Chauvet, Marcelle; Lima, Elcyon C.R.; Vasquez, Brisne - Federal Reserve Bank of Atlanta - 2002
This paper compares the forecasting performance of linear and nonlinear models under the presence of structural breaks for the Brazilian real GDP growth. The Markov-switching models proposed by Hamilton (1989) and its generalized version proposed by Lam (1991) are applied to quarterly GDP from...
