OPEN-SOURCE SCRIPT

Michez rule by Pascal Michaillat and Emmanuel Saez

Par tradepeak
Mis à jour
Ref: https://pascalmichaillat.org/16/

Economists Pascal Michaillat and Emmanuel Saez have created a two-sided Sahm rule-based indicator[26] (which the Financial Times named the 'Michez rule'[27]), using both the unemployment rate and also the vacancy rate for jobs. The economists noted that their modified indicator functioned for recessions going back to the year 1930,[28] while Sahm's worked only back to the 1950s. Another notable difference: The 'Michez rule' is usually triggered earlier than the Sahm rule as it detects recessions on average 1.4 months after they have started.[29]
Notes de version
Since Pascal Michaillat updated the paper on September 17, 2024, and made slight adjustments to the formulas, a new version has been released to synchronize the values. You can select the paper version under "Official Paper Update Date" on settings.
Notes de version
Correcting data calculation errors for non-"monthly" cycles.
forecastingstatistics

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