Chong, Terence Tai-Leung; Liu, Guoxin; Yan, Isabel Kit-Ming - In: Economics Bulletin 3 (2007) 2, pp. 1-10
Most of the existing structural-change models presume that the impact of a change is instantaneous and occurs at the same time for all individuals. In this paper, we develop a new structural-change model to measure the lag length between the time when an economic crisis breaks out and the time...
