Hidden Bibliographic Details
| Other authors / contributors: | Sløk, Torsten.
International Monetary Fund. Research Department.
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| ISBN: | 1281155810
9781281155818
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| Notes: | Includes bibliographical references (pages 23-25).
Restrictions unspecified
Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2010.
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212
digitized 2010 HathiTrust Digital Library committed to preserve
Print version record.
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| Summary: | The purpose of this paper is to assess if the prices observed in stock, money, and foreign exchange markets in transition countries contain information about future real economic activity. This is investigated in three different empirical analyses, examining if stock prices, short term interest rates, and the exchange rate signal future movements in industrial production, unemployment, and real wages. The conclusion is that asset prices do contain information about future movements in real variables, and in particular it is found that asset prices significantly signal future movements in industrial production. These results have important implications for policymakers in transition countries and a composite leading indicator based on the stock price, the interest rate, and the exchange rate is suggested which can yield information about future developments in real activity.
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| Other form: | Print version: Christoffersen, Peter F. Do asset prices in transition countries contain information about future economic activity?. Washington, D.C. : International Monetary Fund, ©2000
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