Chan-Lau, Jorge A.; Ivaschenko, Iryna V. - International Monetary Fund (IMF) - 2002
to predict future changes in industrial production, beyond the information already contained in interest rates …, commercial paper-treasury bill spreads, and lagged values of industrial production. In fact, the corporate spread curve can … explain the cumulative growth rate of industrial production over 3- to 48-month horizons, and the marginal growth rate over 6 …