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(y_{t}) together with a threshold (c) define a binary prediction recession with (s_{t}=1) whenever (y_{t} le c,) and expansion ((s_{t}=0)) whenever (y_{t}>c).
Suppose that we generate a binary indicator of recession out of each of the five indicators that we considered above.
Obviously in this post-recession universe, it seems like pension or mortgage is pretty much a binary, one or the other decision.
Just binary.
Binary options.
"It is binary.
Blindness is not binary.
It's so binary".
The recession?
What recession?
But recession?
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com