Dependent Variable: Category of Respondents

Method: Markov Switching Regression (BFGS/Marquardt steps)

Included observations: 142

Number of states: 2

Variable

Coefficient

Std. Error

z-Statistic

Prob.

Regime 1

TOTAL_INCOME

1.38E−06

6.48E−07

2.127850

0.0333

TIME_SUPPLY_BUY

0.156404

0.027811

5.623917

0.0000

Regime 2

TOTAL_INCOME

3.41E−06

5.71E−07

5.979136

0.0000

TIME_SUPPLY_BUY

0.780970

0.075108

10.39795

0.0000

Common

LOG(SIGMA)

−0.518908

0.066198

−7.838682

0.0000

Transition Matrix Parameters

P11-C

3.215378*

0.651085

4.938495

0.0000

P21-C

−3.186289

0.638353

−4.991429

0.0000

Mean dependent var

1.496183

S.D. dependent var

0.501905

S.E. of regression

0.787553

Sum squared resid

78.15025

Durbin-Watson stat

1.925111

Log likelihood

−137.4576

Akaike info criterion

2.205460

Schwarz criterion

2.359096

Hannan-Quinn criter.

2.267889