Gómez Biscarri, Javier - In: Applied financial economics 19 (2009) 13/15, pp. 1131-1142
We qualify some of the traditionally accepted results on the predictive power of the term spread over output. We show that in the case of short-term spreads, the direction of the predictive power may be the opposite to that usually found in the empirical literature, which has mostly rested on...
