Journal of Applied Econometrics, Vol. 20, No. 2, Recent Developments in Business Cycle Analysis (2005), pp. 253-274 (22 pages) The objective of this paper is to evaluate the effectiveness of using a ...
Journal of Applied Probability, Vol. 58, No. 1 (MARCH 2021), pp. 177-196 (20 pages) We consider a strictly substochastic matrix or a stochastic matrix with absorbing states. By using quasi-stationary ...
Markov processes form a fundamental class of stochastic models in which the evolution of a system is delineated by the memoryless property. In such processes, the future state depends solely on the ...
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