theory of economic indicators

[Mikalac Norman S NSSC <MikalacNS@xxxxxxxxxxxxxxx>]

on the subject of economic indicators, can someone cite sources for their
theoretical justification?  my old stat books give theory for justifying
interpolating data via correlations, but not extrapolating data via
correlations, i.e., forecasting.

thanks for your help.

norm


-----Original Message-----
From: Jim Devine [mailto:jdevine@xxxxxxxxxxxxxxx]
Sent: Wednesday, August 30, 2000 6:39 PM
To: pen-l@xxxxxxxxxxxxxxxxxxx
>Subject: [PEN-L:1000] Re: Re: Crisis-mongering #4781v


At 06:09 PM 8/30/00 -0400, you wrote:
>Rob Schaap wrote:
>
>>I hear the index of leading economic indicators is down for a third
>>consecutive quarter (never heard of the thing and don't know which
>>indicators it considers important, but ya gotta grab what's going, eh?).

I wouldn't trust the leading indicators much, since they were originally
developed for a very different economy.

Jim Devine jdevine@xxxxxxx &  http://bellarmine.lmu.edu/~jdevine