Every city, organization and business has something in common: a defined life cycle. Take New Orleans, for example. US Route 90—a segment of the Ponchartrain expressway—cuts through the heart of New ...
The synthesis of the dynamic factor model of Stock and Watson (1989) and the regime-switching model of Hamilton (1989) proposed by Diebold and Rudebusch (1996) potentially encompasses both features of ...
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