Variables | Coefficient |
| ||
Budget Deficit financing (Model 1) | State 1 | −6.989*** | −27.240 | |
State 2 | −1.292*** | −5.170 | ||
Fiscal Deficit financing (Model 2) | State 1 | −522,090.900*** | −34.680 | |
State 2 | −3589.300 | −1.240 | ||
Probability of Transition | ||||
Model 1 | Model 2 | |||
State of Probabilities | Probabilities | State of Probabilities | Probabilities | |
| 0.976 |
| 0.794 | |
| 0.024 |
| 0.205 | |
| 0.023 |
| 0.007 | |
| 0.977 |
| 0.993 | |
Durations of Transition | ||||
| Model 1 | Model 2 | ||
State 1 | 42.3 | 4.9 | ||
State 2 | 44.3 | 139.7 |