Monetary tightening cycles and the predictability of economic activity

Ten of thirteen monetary tightening cycles since 1955 were followed by increases in unemployment, three were not. The term spread at the end of these cycles discriminates between subsequent outcomes, but levels of nominal or real interest rates do not.

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Year of publication:	2008
Authors:	Adrian, Tobias ; Estrella, Arturo
Published in:	Economics Letters. - Elsevier, ISSN 0165-1765. - Vol. 99.2008, 2, p. 260-264
Publisher:	Elsevier

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Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005355805