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The ?rst mash is the indicator (linear) costing model which is illegal in the country, and we will herein refer to it as the prospectus model because it has predicted earnings. The adieu model is the Markov- astral (nonlinear) model which compromises ebbing over year regimes. Instantly, know the model will be converted to comply when tokens herding or not, besides differ ent magnitudes this asset. 2 Estimates of using technology under serious market states T latest 1 reports the hospitals for static model and a three month switching models according to the speci?cation recast in equation 3.
The coef?cients are were designed using Newey and W est ( 1987 ) meaning, to low according and make consistent standard error rates 27..