Predicting output with a money market spread
The accuracy of a money market yield spread and the difference between 3-month T-bill rates and federal funds rate, in predicting real output are studied. Results show that the money market spread provides accurate predictions of real output. However, federal funds have smaller forecast errors compared to the money market spread. The accuracy of the money market spread is also affected by monetary policy.
Publication Name: Journal of Economics and Business
A generalization of the beta distribution with applications
The text of a page in a paper which appeared in the Journal of Econometrics was inadvertently replaced by a table. Moreover, there was a typographical error in the equation representing the exponential generalized beta of the second kind. An extraneous symbol in the denominator was also erroneously included. The paper's missing text is presented.
Publication Name: Journal of Econometrics
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