Hidden Markov Models, Markov Chains, Markov Switching, Markov Auto Regression, Maximum Likelihood.
get into those details here, but as with the MSDR model, we will look at how to build and train an MSAR model in Python and statsmodels in an upcoming article. References and Copyrights Data set U.S. Bureau of Labor Statistics, Unemployment Rate [UNRATE], retrieved from FRED, Federal Reserve Bank