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in the probit model the fact that the economy is already in a state of recession must be controlled for. The results of …
Persistent link: https://www.econbiz.de/10005076772
The introduction of a common monetary policy in eleven European countries increased the need for leading indicators for that area. A reliable leading indicator should possess the following properties: (1) The movements in the indicator series should resemble those in the business cycle reference...
Persistent link: https://www.econbiz.de/10005076700
A reliable leading indicator should possess the following properties: (1) The movements in the indicator series should resemble those in the business cycle reference series. (2) The relation between the reference series and the indicator should be statistically significant and stable over time....
Persistent link: https://www.econbiz.de/10005561215
Die Einführung einer gemeinsamen Geldpolitik in elf europäischen Ländern erhöhte die Bedeutung von konjunkturellen Frühindikatoren für dieses Gebiet. Brauchbare Frühindikatoren sollten folgende Eigenschaften besitzen: (1) Die konjunkturellen Bewegungen des Frühindikators sollten denen...
Persistent link: https://www.econbiz.de/10004963607
Ifo business climate and other Ifo indicators will be investigated to assess its properties. Properties of Ifo indicators either following the old institutional classification or the newer possibility of use classification will be checked against long-term time series according the new...
Persistent link: https://www.econbiz.de/10004963731
Brauchbare Frühindikatoren sollten folgende Eigenschaften besitzen: (1) Die konjunkturellen Bewegungen des Frühindikators sollten denen der Referenzreihe folgen. (2) Die Beziehung zwischen den Reihen sollte stabil und signifikant sein. (3) Die Einbeziehung des Indikators sollte die...
Persistent link: https://www.econbiz.de/10005069093
This paper investigates to what extent the R&D behavior of manufacturing companies was influenced by the 2008/09 crisis. Based on a broad official data set for German manufacturing companies, only a few companies that engaged in R&D during 2008 gave it up in the following year. Some companies...
Persistent link: https://www.econbiz.de/10010896184
Dynamic factors estimated from panels of macroeconomic indicators are used to predict future recessions using probit models. Three factors are considered: a bond and exchange rates factor; a stock market factor; a real activity factor. Three results emerge. First, models that use only financial...
Persistent link: https://www.econbiz.de/10011266406
evidence in favor of the ones that allow for the possibility that the economy has experienced recurrent breaks. The recession … probabilities of these models provide a clearer classification of the business cycle into expansion and recession periods, and … superior performance in the ability to correctly call recessions and to avoid false recession signals. Overall, the sensitivity …
Persistent link: https://www.econbiz.de/10005014744
Macroeconometric and financial researchers often use secondary or constructed binary random variables that differ in terms of their statistical properties from the primary random variables used in micro-econometric studies. One important difference between primary and secondary binary variables...
Persistent link: https://www.econbiz.de/10005015196