Hi everyone, I have times series with 11 observations on the business climate index. Can I apply Markov switching model to these few time series with two states (expansion and contraction)?
April-2020 35
May-2020 22
June-2020 51
July-2020 54
August-2020 49
September-2020 50
October-2020 44
November-2020 40
December-2020 52
January-2021 69
February-2021 69