Browsing Norges Banks vitenarkiv by Subject "Markov regime switching model"
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Multiple Unemployment Equilibria: Do Transitory Shocks Have Permanent Effects?
(Working Papers;6/1999, Working paper, 1999)This paper tests for multiple equilibria in the Norwegian unemployment rate and investigates whether it displays asymmetric response to positive and negative shocks. Linear and nonlinear univariate models are employed to ...