Armesto, Michelle T.; Hernández-Murillo, Rubén; … - 2008 - Rev.
Reserve’s Beige Book, an anecdotal measure of
regional economic conditions, for aggregate output and employment have proven … regional data. We nd that the Beige
Book’s national summary and District reports predict GDP and aggregate employment and that …
most District reports provide information content for regional employment. In addition, there
appears to be an asymmetry in …