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Journal Article
Predicting real growth using the yield curve
A study using out-of-sample regressions to determine how well the 10-year, 3-month yield spread predicts future real GDP growth. The author finds that although the yield curve is a good predictor over the entire 30-year sample period, it has become much less accurate over the last decade.
Journal Article
Gilt by association: uncovering expected inflation
An argument that U.S. inflation expectations are better measured by comparing U.S. treasury bonds with British "gilts" -- marketable securities linked to a broad index of retail prices -- than by surveys or econometric models.