Colombian economic growth under Markov switching regimes with endogenous transition probabilities

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Borradores de Economía; No. 425
Date published
2006-12-10
Date of last update
2006-12-10
Author
Misas A., Martha
Ramírez-Giraldo, María Teresa
Document language
spa
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Las opiniones contenidas en el presente documento son responsabilidad exclusiva de los autores y no comprometen al Banco de la República ni a su Junta Directiva.
Abstract
We modelled the Colombian long run per capita economic growth (1925-2005) using a Markov switching regime model with both fixed (FTP) and time-varying transition probabilities (TVTP) to explain regime changes in the economic growth. We found evidence of n
JEL Codes
E32 - Business Fluctuations; CyclesC22 - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion processesN16 - Macroeconomics and Monetary Economics; Growth and Fluctuations: Latin America; CaribbeanO40 - Economic Growth and Aggregate Productivity: General
Keywords
Markov endogenous switching regime model ; Time-varying transition probabilities ; Economic growth ; Colombia ;
URI
https://repositorio.banrep.gov.co/handle/20.500.12134/5443
https://hdl.handle.net/20.500.12134/5443
https://doi.org/10.32468/be.425
https://ideas.repec.org/p/bdr/borrec/425.html
https://ideas.repec.org/p/col/000094/002148.html
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