We discuss specification of regression models for using migration data to infer the living standards of different regions, and for observing how much of the standard of living is determined by income opportunities versus non-pecuniary amenities. We estimate a regression using Canadian data from...

We calculate impulse response functions from regime-switching models where the driving variable can respond to the shock. Two methods used to estimate the impulse responses in these models are generalized impulse response functions and local projections. Local projections depend on the observed...

"This paper develops a framework for inferring common Markov-switching components in a panel data set with large cross-section and time-series dimensions. We apply the framework to studying similarities and differences across U.S. states in the timing of business cycles. We hypothesize that...