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150128 ||| eng |
020 |
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|a 9781451852684
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100 |
1 |
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|a Sloek, Torsten
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245 |
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|a Do Asset Prices in Transition Countries Contain Information About Future Economic Activity?
|c Torsten Sloek, Peter Christoffersen
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260 |
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|a Washington, D.C.
|b International Monetary Fund
|c 2000
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300 |
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|a 25 pages
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700 |
1 |
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|a Christoffersen, Peter
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041 |
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7 |
|a eng
|2 ISO 639-2
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989 |
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|b IMF
|a International Monetary Fund
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490 |
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|a IMF Working Papers
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028 |
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|a 10.5089/9781451852684.001
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856 |
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|u http://elibrary.imf.org/view/journals/001/2000/103/001.2000.issue-103-en.xml
|x Verlag
|3 Volltext
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|a 330
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|a There is ample empirical evidence for developed economies that asset prices contain information about future economic developments. But is this also the case in transition economies? Using a panel of monthly data for the Czech Republic, Hungary, Poland, Russia, Slovakia, and Slovenia for the period 1994-1999 it is shown that historical values for interest rates, exchange rates, and stock prices signal future movements in real economic activity. This result has significant implications for policymakers, and a composite leading indicator based on the three asset prices is presented, which contains information about the future development of economic activity
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