Owyang, Michael T. (contributor); … - 2007
represented in our DFM, the third factor is most closely related
to core inflation (see columns six and seven of Table 1 and …, which is not included in our DFM. This is likely a remnant of the widely
documented simple correlation between inflation …–91 recession and takes on a relatively low value during the 2001 recession, signaling
differences in the behavior of inflation …