Guidolin, Massimo; Hyde, Stuart; McMillan, David G.; … - 2008
term spread, the dividend yield, the
inflation rate, the rate of growth of industrial production, the change in the …) government bond yields, the change in the effective log-exchange rate (∆s
t
), the
CPI inflation rate (π
t
), changes in log …-oil prices (∆oil
t
), industrial production growth (∆IP
t
), and the change
in the unemployment rate (∆u
t
). Inflation …