A consensus has recently emerged that a number of variables in addition to the level, slope, and curvature of the term structure can help predict interest rates and excess bond returns. We demonstrate that the statistical tests that have been used to support this conclusion are subject to very...

A consensus has recently emerged that a number of variables in addition to the level, slope, and curvature of the term structure can help predict interest rates and excess bond returns. We demonstrate that the statistical tests that have been used to support this conclusion are subject to very...

This paper points out some difficulties in the econometric estimation of the original paper and suggests procedures for overcoming these.

The logistic regression models has been widely used in the social and natural sciences and results from studies using this model can have significant impact. Thus, confidence in the reliability of inferences drawn from these models is essential. The robustness of such inferences is dependent on...

The logistic regression models has been widely used in the social and natural sciences and results from studies using this model can have significant impact. Thus, confidence in the reliability of inferences drawn from these models is essential. The robustness of such inferences is dependent on...