Reassessing the dependence between economic growth and financial conditions since 1973
重新评估1973年以来经济增长与金融状况的依赖关系
Summary Adrian, Boyarchenko and Giannone ((2019), ABG) adapt quantile regression (QR) methods to examine the relationship between US economic growth and financial conditions. We confirm their empirical findings, using their methodology and their pre‐2016 sample. Mindful of the importance of the Covid‐19 pandemic, we extend the sample to 2021Q3 and find attenuation of the key estimated coefficients using ABG's empirical methods. Given the pandemic observations, we provide…