Financial predictors of real activity and the financial accelerator

Ashoka Mody; Mark P. Taylor

doi:10.1016/j.econlet.2002.11.001

Financial predictors of real activity and the financial accelerator

Ashoka Mody
, Mark P. Taylor

Research output: Contribution to journal › Article › peer-review

38 Scopus citations

Abstract

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.

Original language	English
Pages (from-to)	167-172
Number of pages	6
Journal	Economics Letters
Volume	82
Issue number	2
DOIs	https://doi.org/10.1016/j.econlet.2002.11.001
State	Published - Feb 2004

Keywords

Financial accelerator
High yield spread

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10.1016/j.econlet.2002.11.001

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title = "Financial predictors of real activity and the financial accelerator",

abstract = "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.",

keywords = "Financial accelerator, High yield spread",

author = "Ashoka Mody and Taylor, \{Mark P.\}",

year = "2004",

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journal = "Economics Letters",

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AU - Taylor, Mark P.

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AB - 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.

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KW - High yield spread

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DO - 10.1016/j.econlet.2002.11.001

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Financial predictors of real activity and the financial accelerator

Abstract

Keywords

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