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시변 모수 벡터오차수정모형 (TVP-VECM)×시간 가변 모수 VAR (TVP-VAR)×
분야계량경제학계량경제학
계열Regression modelRegression model
기원 연도1999–20102005
창시자Park & Hahn (1999); extended by Bierens & Martins (2010)Giorgio Primiceri
유형Dynamic multivariate time-series modelBayesian state-space model
원전Park, J. Y., & Hahn, S. B. (1999). Cointegrating regressions with time varying coefficients. Econometric Theory, 15(5), 664–703. DOI ↗Primiceri, G. E. (2005). Time varying structural vector autoregressions and monetary policy. Review of Economic Studies, 72(3), 821–852. DOI ↗
별칭TVP-VECM, time-varying VECM, TVP cointegration model, dynamic VECM with drifting coefficientsTime-Varying Parameter Vector Autoregression, TVP-SVAR, Stochastic Coefficient VAR, Zamana Göre Değişen Parametreli VAR
관련32
요약The Time-Varying Parameter Vector Error Correction Model extends the standard VECM by allowing the adjustment speeds, cointegrating vectors, and short-run dynamics to drift over time. It captures long-run cointegrating relationships among integrated series while accommodating structural change, evolving policy regimes, and shifting economic relationships within a unified state-space framework.TVP-VAR is a Bayesian multivariate time-series model in which both the VAR coefficients and the shock covariance matrix are allowed to evolve continuously over time as random walks. Introduced by Primiceri (2005) to study U.S. monetary policy transmission, the model captures structural changes and regime shifts without requiring ex-ante knowledge of when breaks occurred, making it indispensable for macroeconomics, finance, and any setting where economic relationships are suspected to be unstable across time.
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