Financial predictors of real activity and the propagation of aggregate shocks

Bond yield and retail interest rate spreads are presumed to lead real activity on the basis of financial accelerator mechanisms, markup cyclicality or simply because they are forward-looking. Empirical results for Austria show that retail rate spreads outperform many other indicators in this respect. Nevertheless, there is no evidence for a financial accelerator being behind this finding.

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Year of publication:	2006-09
Authors:	Burgstaller, Johann
Institutions:	Institut für Volkswirtschaftslehre, Johannes-Kepler-Universität Linz
Subject:	Leading indicator \| business cycle \| shock propagation \| financial accelerator \| bank markup

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Extent:	application/pdf
Series:	Economics working papers.
Type of publication:	Book / Working Paper
Language:	English
Notes:	Number 2006-16
Classification:	E32 - Business Fluctuations; Cycles ; E44 - Financial Markets and the Macroeconomy ; G12 - Asset Pricing ; G21 - Banks; Other Depository Institutions; Mortgages
Source:	RePEc - Research Papers in Economics

Persistent link: https://ebvufind01.dmz1.zbw.eu/10005800621