Dynamic Economic Problems with Regime Switches
This book presents the state of the art in the relatively new field of dynamic economic modelling with regime switches. The contributions, written by prominent scholars in the field, focus on dynamic decision problems with regime changes in underlying dyn
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Josef L. Haunschmied Raimund M. Kovacevic Willi Semmler Vladimir M. Veliov Editors
Dynamic Economic Problems with Regime Switches
Dynamic Modeling and Econometrics in Economics and Finance Volume 25
Series Editors Stefan Mittnik Department of Statistics Ludwig Maximilian University of Munich München, Germany Willi Semmler New School for Social Research Bielefeld University Germany and New School for Social Research New York, NY, USA
More information about this series at http://www.springer.com/series/5859
Josef L. Haunschmied Raimund M. Kovacevic Willi Semmler Vladimir M. Veliov •
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Editors
Dynamic Economic Problems with Regime Switches
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Editors Josef L. Haunschmied Operations Research and Control Systems, Institute of Statistics and Mathematical Methods in Economics Vienna University of Technology Wien, Austria Willi Semmler Department of Economics The New School for Social Research New York, NY, USA
Raimund M. Kovacevic Operations Research and Control Systems, Institute of Statistics and Mathematical Methods in Economics Vienna University of Technology Wien, Austria Vladimir M. Veliov Operations Research and Control Systems, Institute of Statistics and Mathematical Methods in Economics Vienna University of Technology Wien, Austria
ISSN 1566-0419 ISSN 2363-8370 (electronic) Dynamic Modeling and Econometrics in Economics and Finance ISBN 978-3-030-54575-8 ISBN 978-3-030-54576-5 (eBook) https://doi.org/10.1007/978-3-030-54576-5 Mathematics Subject Classification: 91-06, 91Bxx, 90-06, 93Exx, 49-06 © Springer Nature Switzerland AG 2021 This work is subject to copyright. All rights are reserved by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publisher, the authors and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, expressed or implied, with respect to the material contained herein or for any errors or omissions that may have been made. The publisher remains neutral with regard to jurisdictional claims in published maps and institutional affiliations. This Springer imprint is published by the registered company Springer Nature Switzerland AG The registered company address is: Gewerbestrasse 11, 6330 Cham, Switzerland
Preface
This book is about instantaneous (or relatively fast) changes of the regime of opera
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