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dc.contributor.authorKreuter, Christofen_US
dc.date.accessioned2010-07-27en_US
dc.date.accessioned2010-09-24T14:30:00Z-
dc.date.available2010-09-24T14:30:00Z-
dc.date.issued1998en_US
dc.identifier.urihttp://hdl.handle.net/10419/40284-
dc.description.abstractLeading indicators are typical constructs used in macroeconomics to guide decision making in several areas of economic activity, including policy formation and long term investment. Researchers often evaluate and select leading indicators on a seemingly ad hoc basis involving OLS regression, which does not take into account the fact that perhaps the most important property of a good leading indicator lies in its ability to anticipate the turning points of the time series of interest. We propose an alternative assessment of leading indicators, based on the turning point significance transform, which weights each observation of the original time series according to how much it functions as a turning point. This new construct is then used to evaluate the accuracy and timeliness of several German and American macroeconomic time series as leading indicators for GDP growth.en_US
dc.language.isoengen_US
dc.publisherDB Research Frankfurt am Mainen_US
dc.relation.ispartofseriesResearch notes in economics & statistics 98-1en_US
dc.subject.jelE32en_US
dc.subject.ddc330en_US
dc.subject.keywordleading indicatoren_US
dc.subject.keywordturning pointen_US
dc.subject.keywordpredictionen_US
dc.subject.stwWechselkursen_US
dc.subject.stwZinsen_US
dc.subject.stwAnkündigungseffekten_US
dc.subject.stwLohnstatistiken_US
dc.subject.stwSchätzungen_US
dc.subject.stwIndexanleiheen_US
dc.subject.stwUSAen_US
dc.subject.stwDeutschlanden_US
dc.titleThe reaction of exchange rates and interest rates of news releasesen_US
dc.typeWorking Paperen_US
dc.identifier.ppn25832046Xen_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
dc.identifier.repecRePEc:zbw:dbrrns:981-
Appears in Collections:Research Notes, Deutsche Bank Research

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