We document that aggregate accounting earnings growth is an incrementally significant leading indicator of growth in nominal Gross Domestic Product (GDP). Professional macro forecasters, however, do not fully incorporate the predictive content embedded in publicly available accounting earnings...

As the COVID-19 pandemic hit EU countries, the economic impact rapidly became a second area of concern both for politicians and for citizens. The release of quarterly national accounts aggregates, which give an integrated picture of the economic situation, was eagerly anticipated by users of...

Research on the information value of accounting data has been mainly conducted from the perspective of individual companies and the capital market. However, in recent years, the area has been expanding to an aggregate perspective and the analysis of the relationship with the macro economy. Among...

In addition to its direct effects on the global trading and production structure, the ongoing process of globalisation may have important implications for the interaction of exchange rates and the overall economy. This paper presents evidence regarding possible changes in the role of exchange...

This study draws on the investor protection literature to examine differences in a country's information environment that are likely to explain cross country variation in the extent to which macroeconomic forecasters take account of current earnings when forecasting future growth in GDP. Using a...