ECB paper uses financial conditions indices to help predict growth developments
ECB paper uses financial conditions indices to help predict growth developments
A working paper published by the European Central Bank (ECB) today presents financial conditions indices (FCIs) for a range of industrialised and emerging economies.
In Measuring Financial Conditions in Major Non-Euro Area Economies, Konstantin Wacker, David Lodge and Giulio Nicoletti develop indices for Japan, the UK and US, as well as China, Brazil, Russia, India, Turkey.
"These FCIs summarise a set of underlying financial variables and are furthermore conditional on the business cycle," the
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