Research ArticleOpen AccessGoogle Scholar indexed
An Examination of Male and Female Monthly Employment Rates over Time in Canada and the United States Using Hidden Markov Probability Models
Department of Mathematics and Statistics, University of Saskatchewan, Saskatoon, Canada
Professor Emeritus, University of Saskatchewan, Saskatoon, Canada
- 1 Department of Mathematics and Statistics, University of Saskatchewan, Saskatoon, Canada
- 2 Professor Emeritus, University of Saskatchewan, Saskatoon, Canada
Open Journal of Statistics·Volume 08 (2018)·Pages 837–845·Published 10 September 2018·DOI10.4236/ojs.2018.85055
Copy link · social · email
Abstract
In this paper, we will illustrate the use and power of Hidden Markov models in analyzing multivariate data over time. The data used in this study was obtained from the Organization for Economic Co-operation and Development (OECD. Stat database url: https://stats.oecd.org/) and encompasse d monthly data on the employment rate of males and females in Canada and the United States (aged 15 years and over; seasonally adjusted from January 1995 to July 2018) . Two different underlying patterns of trends in employment over the 23 year s observation period were uncovered.
KeywordsEmployment TrendsHidden Markov ModelsMultivariate DataCanadaUnited States
- The Organization for Economic Co-Operation and Development (OECD). https://stats.oecd.org/
- Walker II, M. (2011) Hidden Markov Models for Heart Rate Variability with Biometric Applications. All Theses and Dissertations (ETDs).
- Laverty, W.H., Miket, M.J. and Kelly, I.W. (2002) Application of Hidden Markov Models on Residuals: An Example Using Canadian Traffic Accident Data. Perceptual and Motor Skills, 94, 1151-1156. https://doi.org/10.2466/pms.2002.94.3c.1151
- Laverty, W.H., Miket, M.J. and Kelly, I.W. (2002) Examination of Residuals to Vancouver Crisis Call Data by Using Hidden Markov Models. Perceptual and Motor Skills, 94, 548-550. https://doi.org/10.2466/pms.2002.94.2.548
- Bhar, R. and Hamori, S. (2004) Hidden Markov Models: Applications to Financial Economics. Springer, Switzerland.
- Lihn, S. (Forthcoming) Hidden Markov Model for Financial Time Series and Its Application to S & P 500 Index. Quantitative Finance.
- Nootyaskool, S. and Choengtong, W. (2014) Hidden Markov Model Prediction of Foreign Exchange Rate. International Symposium on Communications and Information Technology, Incheon, 24-26 September 2014.
- Xuan, T. (2004) Autoregressive Hidden Markov Model with Application in an El Nino Study. MSc. Thesis, University of Saskatchewan, Saskatoon.