Kim, Chang-Jin; Nelson, Charles R. - In: The Review of Economics and Statistics 81 (1999) 4, pp. 608-616
We hope to answer three questions: Has there been a structural break in postwar U.S. real GDP growth towards stabilization? If so, when? What is the nature of this structural break? We employ a Bayesian approach to identify a structural break at an unknown changepoint in a Markov-switching model...