High Yield Spreads, Real Economic Activity, and the Financial Accelerator

Autor:	Pierangelo De Pace, Kyle D. Weber
Rok vydání:	2013
Předmět:	Economics and Econometrics Economic indicator Yield (finance) Economics Monetary economics Financial accelerator Finance
Zdroj:	SSRN Electronic Journal.
ISSN:	1556-5068
DOI:	10.2139/ssrn.2236096
Popis:	We study the leading properties of 30 U.S. high yield spreads for economic growth between 1996 and 2012 and show that they disappeared in the second half of the 2000s. Our empirical fi ndings demonstrate the unreliability of high yield spreads as leading indicators and cast doubts on the existence of a strong and functioning financial accelerator in recent years.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_dedup___::502332d88d8ae7fd420c0654eb312831 https://doi.org/10.2139/ssrn.2236096 Zobrazit plný text záznamu