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Size: 507
Comment:
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Size: 583
Comment:
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| Deletions are marked like this. | Additions are marked like this. |
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| What is the effect of financial stress on economic activity ?, Troy Davig and Craig Hakkio (2010) | [[http://www.kansascityfed.org/PUBLICAT/ECONREV/PDF/10q2Davig_Hakkio.pdf|What is the effect of financial stress on economic activity ?]], Troy Davig and Craig Hakkio (2010) |
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| * Instead of using the Kansas City Financial Stress Index (KCFSI), the MOD file considers the interpolated monthly real GDP. | * Instead of using the Chicago Fed National Activity Index (CFNAI), the MOD file considers the interpolated monthly real GDP. |
Example :
What is the effect of financial stress on economic activity ?, Troy Davig and Craig Hakkio (2010)
Some differences with their paper :
- Instead of using the Chicago Fed National Activity Index (CFNAI), the MOD file considers the interpolated monthly real GDP.
- The coefficients b_{11} and b_{22} are considered constant in Davig and Hakkio (2010) whereas in the MOD file, they follow the markov switching process.