Ireland economists construct new business-cycle indicator
An economic letter published by the Central Bank of Ireland yesterday presents a new monthly business-cycle indicator designed to provide a "real-time signal" to policy-makers of the state of the Irish economy.
In A Monthly Business Cycle Indicator for Ireland, Thomas Conefrey and Joelle Liebermann use a flexible estimation approach to construct the index from a panel of variables covering, among others, the labour, credit and housing markets.
"As a result, all of the most recent information
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