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By reading the abstract of (Apergis 2013), I saw that

By using panel methodological approaches and daily data spanning the period 1985–2012, the empirical analysis documents the joint predictability capacity of the BDI for both financial assets and industrial production.

I am wondering what does "joint predictability capacity" mean? Whether it means BDI can be used to predict for financial assets and industrial production separately?

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  • it is from a peer-reviewed published paper tho ....
    – Phil Nguyen
    Commented May 15, 2022 at 23:54

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At a quick read of the paper it seems to mean what you suggest, that it predicts each of them. It remains possible that its effect on one of them is mediated by the other but I am not sufficiently familiar with what econometricians do to say with confidence that they have tested for that.

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