Discussion of 'An approach for identifying and predicting economic recessions in real-time using time-frequency functional models'by Holan, Yang, Matteson, and Wikle Discussion of 'An approach for identifying and predicting economic recessions in real-time using time-frequency functional models'by Holan, Yang, Matteson, and Wikle

The article focuses on identification and prediction of economic recessions using time-frequency functional models. It argues that the model being used by several researchers including Holan, Yang, and Matheson provides a better forecast than models that excludes daily frequency variable. It adds that their framework can be represented into a Monitoring, Intrusion, Detection, Administration System (MIDAS) extension of a probit model.