TY  - BOOK
AU  - Chan-Lau,Jorge A.
AU  - Ivaschenko,Iryna V.
TI  - The Corporate Spread Curve and Industrial Production in the United States
T2  - IMF Working Papers; Working Paper
SN  - 145184252X :
SN  - 1018-5941
PY  - 2002///
CY  - Washington, D.C.
PB  - International Monetary Fund
KW  - Bond
KW  - imf
KW  - Bonds
KW  - Business Fluctuations
KW  - Corporate Bond
KW  - Corporate Spreads
KW  - Financial Markets and the Macroeconomy
KW  - United States
N2  - The term structure of domestic investment grade bond spreads - or corporate spread curve - contains useful information to predict future changes in industrial production, beyond the information already contained in interest rates, commercial paper-treasury bill spreads, and lagged values of industrial production. In fact, the corporate spread curve can explain the cumulative growth rate of industrial production over 3- to 48-month horizons, and the marginal growth rate over 6- to 18-month horizons. Unlike other financial variables, the corporate spread curve has been a stable predictor of real activity for the last fifteen years
UR  - http://elibrary.imf.org/view/IMF001/06853-9781451842524/06853-9781451842524/06853-9781451842524.xml
UR  - http://www.imfbookstore.org/IMFORG/9781451842524
ER  -