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• W1997558034 abstract "Abstract We propose an optimal filter to transform the Conference Board Composite Leading Index (CLI) into recession probabilities in the US economy. We also analyse the CLI's accuracy at anticipating US output growth. We compare the predictive performance of linear, VAR extensions of smooth transition regression and switching regimes, probit, non‐parametric models and conclude that a combination of the switching regimes and non‐parametric forecasts is the best strategy at predicting both the NBER business cycle schedule and GDP growth. This confirms the usefulness of CLI, even in a real‐time analysis. Copyright © 2002 John Wiley & Sons, Ltd." @default.
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• W1997558034 date "2002-01-01" @default.
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• W1997558034 title "This is what the leading indicators lead" @default.
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• W1997558034 doi "https://doi.org/10.1002/jae.641" @default.
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