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Nonparametric identification and maximum likelihood estimation for finite-state hidden Markov models are investigated. We obtain identification of the parameters as well as the order of the Markov ...

Drought is a naturally occurring climate phenomenon that significantly affects human and environmental activity, and can be considered one of the most widespread and destructive natural disasters.

Download PDF More Formats on IMF eLibrary Order a Print Copy Create Citation This paper proposes a hidden state Markov model (HMM) that incorporates workers’ unobserved labor market attachment into ...