Nyberg, Henri (contributor) - 2008
in the model equation
pit = ω + δ1yt−1 +x′t−kβ. (5)
This ”dynamic” probit model1 is used in the recession forecasting … extensions for the static model (4) are called dynamic models, but in particular model (5)
is called the ”dynamic” probit model … explanatory variables and the correctness of the probit model
specification, the asymptotic distribution is
T1/2(ˆθ −θ0) L−→ N(0,I …