Park, Kyungjin; Lee, Hojin - In: East Asian Economic Review (EAER) 27 (2023) 3, pp. 213-242
notable result in the out-of-sample predictability is the predictability of the returns on value-weighted portfolio by gold … unrestricted model is significant in improving out-of-sample predictability of the portfolio returns using gold. From the empirical … analyses, we can conclude that in-sample predictability cannot guarantee out-of-sample predictability and vice versa. This may …
