Financial predictors of real activity and the financial accelerator

被引：31

作者：

Mody, A

Taylor, MP ^{[1
]}

机构：

[1] Univ Warwick, Dept Econ, Coventry CV4 7AL, W Midlands, England

[2] Int Monetary Fund, Dept Res, Washington, DC 20431 USA

来源：

ECONOMICS LETTERS | 2004年 / 82卷 / 02期

关键词：

high yield spread; financial accelerator;

D O I：

10.1016/j.econlet.2002.11.001

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We document the breakdown in the term spread as a predictor of activity during the 1990s and provide the first long-horizon regression evidence that the high yield spread predicts well. The results support the presence of a US financial accelerator. (C) 2003 Elsevier B.V. All rights reserved.

引用

页码：167 / 172

页数：6

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