Discussion Paper
Unpredictable Recessions
Abstract: This note shows forward term spreads provide little information about recessions more than a couple years ahead. In fact, forward term spreads are essentially equivalent to today's term spreads in their ability to accurately predict further-ahead recessions.
https://doi.org/10.17016/2380-7172.2936
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Bibliographic Information
Provider: Board of Governors of the Federal Reserve System (U.S.)
Part of Series: FEDS Notes
Publication Date: 2021-07-02
Number: 2021-07-02-1