Fig. 4.
Filtered regime probabilities estimated from the Markov switching Model 1: S&P500 index returns vs JCJ_KCJ in the period 04.06.2019–12.06.2020.
Official websites use .gov
A
.gov website belongs to an official
government organization in the United States.
Secure .gov websites use HTTPS
A lock (
) or https:// means you've safely
connected to the .gov website. Share sensitive
information only on official, secure websites.