4.2 Numerical Results of the Regime-Switching Approach
Germany
• Fiscal Policy Rule: 1970-2003, (-) indicates that the coefficient is not state-dependent.
|
2.5% |
Median |
97.5% | |
|
Constant( SF = 1) |
-1.2090 |
0.0467 |
1.3407 |
|
Constant( SF = 2) |
4.3338 |
5.3577 |
6.3301 |
|
Yy (-) |
0.0146 |
0.1014 |
0.1871 |
|
Yg (-) |
0.4292 |
0.4976 |
0.5696 |
|
Yb (SF = 1) |
0.0372 |
0.0458 |
0.0542 |
|
Yb (SF = 2) |
0.0043 |
0.0065 |
0.0085 |
|
σ2(-) |
0.5564 |
0.6664 |
0.7953 |
|
P11 |
0.2491 |
0.4955 |
0.7707 |
|
P12 |
0.2293 |
0.5045 |
0.7509 |
|
P21 |
0.0113 |
0.0345 |
0.0804 |
|
_________P22_________ |
0.9196 |
0.9655 |
0.9887 |
Spain
• Fiscal Policy Rule: 1986-2003, (-) indicates that the coefficient is not state-dependent.
|
2.5% |
Median |
97.5% | |
|
Constant(SF = 1) |
-1.0973 |
-0.0439 |
1.1760 |
|
Constant(SF = 2) |
0.8891 |
1.9087 |
2.8654 |
|
Yy (-) |
0.0018 |
0.2111 |
0.3969 |
|
Yg (-) |
0.6217 |
0.6959 |
0.7642 |
|
Yb (-) |
0.0121 |
0.0207 |
0.0291 |
|
σ2(-) |
1.8446 |
2.3238 |
3.0440 |
|
P11 |
0.7221 |
0.8716 |
0.9588 |
|
P12 |
0.0412 |
0.1284 |
0.2779 |
|
P21 |
0.0139 |
0.0526 |
0.1475 |
|
_________P22_________ |
0.8525 |
0.9474 |
0.9861 |
18
More intriguing information
1. The name is absent2. Moi individuel et moi cosmique Dans la pensee de Romain Rolland
3. Design and investigation of scalable multicast recursive protocols for wired and wireless ad hoc networks
4. Fiscal Rules, Fiscal Institutions, and Fiscal Performance
5. Strategic Planning on the Local Level As a Factor of Rural Development in the Republic of Serbia
6. The name is absent
7. Skill and work experience in the European knowledge economy
8. The name is absent
9. DISCUSSION: POLICY CONSIDERATIONS OF EMERGING INFORMATION TECHNOLOGIES
10. The Structure Performance Hypothesis and The Efficient Structure Performance Hypothesis-Revisited: The Case of Agribusiness Commodity and Food Products Truck Carriers in the South