{"product_id":"state-space-models-with-regime-switching-classical-and-gibbs-sampling-approaches-with-applications-paperback","title":"State-Space Models with Regime Switching: Classical and Gibbs-Sampling Approaches with Applications - Paperback","description":"\u003cdiv\u003e\u003cp style=\"text-align: right;\"\u003e\u003ca href=\"https:\/\/reportcopyrightinfringement.com\/\" target=\"_blank\" rel=\"nofollow\"\u003e\u003cb\u003eReport copyright infringement\u003c\/b\u003e\u003c\/a\u003e\u003c\/p\u003e\u003c\/div\u003e\u003cp\u003eby \u003cb\u003eChang-Jin Kim\u003c\/b\u003e (Author), \u003cb\u003eCharles R. Nelson\u003c\/b\u003e (Author)\u003c\/p\u003e\u003cp\u003eBoth state-space models and Markov switching models have been highly productive paths for empirical research in macroeconomics and finance. This book presents recent advances in econometric methods that make feasible the estimation of models that have both features. One approach, in the classical framework, approximates the likelihood function; the other, in the Bayesian framework, uses Gibbs-sampling to simulate posterior distributions from data.\u003c\/p\u003e\u003cp\u003eThe authors present numerous applications of these approaches in detail: decomposition of time series into trend and cycle, a new index of coincident economic indicators, approaches to modeling monetary policy uncertainty, Friedman's \"plucking\" model of recessions, the detection of turning points in the business cycle and the question of whether booms and recessions are duration-dependent, state-space models with heteroskedastic disturbances, fads and crashes in financial markets, long-run real exchange rates, and mean reversion in asset returns.\u003c\/p\u003e\u003ch3\u003eAuthor Biography\u003c\/h3\u003e\u003cp\u003eChang-Jin Kim is Bryan C. Cressey Professor in the Department of Economics at the University of Washington. \u003c\/p\u003e\u003cp\u003e\u003c\/p\u003eCharles Nelson is Ford and Louisa Van Voorhis Professor in the Department of Economics at the University of Washington.\n            \u003cdiv\u003e\n\u003cstrong\u003eNumber of Pages:\u003c\/strong\u003e 311\u003c\/div\u003e\n            \u003cdiv\u003e\n\u003cstrong\u003eDimensions:\u003c\/strong\u003e 0.6 x 8.9 x 6 IN\u003c\/div\u003e\n            \u003cdiv\u003e\n\u003cstrong\u003ePublication Date:\u003c\/strong\u003e November 03, 2017\u003c\/div\u003e\n            ","brand":"BooksCloud","offers":[{"title":"Default Title","offer_id":45306146029670,"sku":"9780262535502","price":138.04,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0599\/7255\/0758\/files\/WVUwOU56TXU5UkRYNTRsQVIzeGVrUT09.webp?v=1774072228","url":"https:\/\/infinitylightwa.com\/products\/state-space-models-with-regime-switching-classical-and-gibbs-sampling-approaches-with-applications-paperback","provider":"Infinity Light","version":"1.0","type":"link"}