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Abstract. This paper serves as a partial introduction to and survey of the literature on Markov-switching models. We review the history of this class of models, describe their mathematical structure, and exposit the basic ideas behind estimation and inference. The paper also describes how the approach can be extended in a variety of directions, such as non-Gaussian distributions, time-varying transition...
Abstract. This paper provides a brief overview to how the use of game theory and its derivative theories of information and incentives in public finance have expanded economists methodological toolkit for predicting how procedural aspects influence strategies of participants as well as their overall performance. Moreover given that evaluation of public policy options, where policy failures can and...
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