Bundesbank economists propose composite FSI with real economy predictive power
Two economists at the Deutsche Bundesbank have published a new discussion paper outlining a new single composite financial stress indicator (FSI) which they claim can predict developments in the real economy better than existing FSIs.
In A single composite financial stress indicator and its real impact in the euro area, Mevlud Islami and Jeong-Ryeol Kurz-Kim say their FSI contains financial variables that have a causal relationship with the real economy and is therefore able to serve as an early
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