Pierdzioch, Christian; Risse, Marian; Rohloff, Sebastian - In: The Quarterly Review of Economics and Finance 54 (2014) 2, pp. 292-305
output gaps of the G7 countries, has out-of-sample predictive power for gold-price fluctuations. To this end, we use a real … business cycle has predictive power for gold-price fluctuations. After accounting for transaction costs, a simple trading rule …