The linearity of the U.S. hog-corn cycle has been questioned by <link rid="b4">Chavas and Holt (1991)</link>. Even so, attempts have not been made to model the potential nonlinear dynamics in the hog-corn cycle by using regime-switching models. One popular alternative is <link rid="b43">Teräsvirta's</link> smooth transition autoregressive...

The linearity of the U.S. hog—corn cycle has been questioned by <xref ref-type="bibr" rid="R4">Chavas and Holt (1991)</xref>. Even so, attempts have not been made to model the potential nonlinear dynamics in the hog—corn cycle by using regime-switching models. One popular alternative is <xref ref-type="bibr" rid="R43">Teräsvirta's</xref> smooth transition...