Richard Ashley, Randal J. Verbrugge, Josh Gallin, Andy Levin, Athanasios Orphanides, Steve Reed, ...
All errors, misinterpretations and omissions are ours. All views expressed in this paper are those of the authors and do not reflect the views or policies of the Bureau of Labor Statistics or the...
Mis-Specification and Frequency Dependence in a New Keynesian Phillips Curve (2008)
Richard Ashley, Randal J. Verbrugge
at Virginia Tech. All errors, misinterpretations and omissions are ours. All views expressed in this paper are those of the authors and do not reflect the views or policies of the Bureau of Labor...
Cross-Sectional and Longitudinal Inflation Asymmetries (2007)
This paper re-examines evidence relating mean inflation to cross-sectional inflation asymmetry, and investigates longitudinal asymmetry in disaggregated price series. The asymmetry test used...
Two key aspects of corruption are strategic complementarity (the greater the prevailing level of corruption, the more likely is a particular agent to engage in it) and localized interactions...
A Framework for Studying Economic Interactions (with applications to corruption and business cycles)
Most economic models implicitly or explicitly assume that interactions between economic agents are 'global' - in other words, each agent interacts in a uniform manner with every other agent. However,...
Local Complementarities and Aggregate Fluctuations
Accumulating microeconomic evidence points both to firm level adjustment lumpiness and to the significant influence of idiosyncratic disturbances. Do these matter for aggregate fluctuations, or do...
A cross-country investigation of macroeconomic asymmetries
Using a recently introduced nonparametric test, I investigate two important and distinct asymmetries in cross-country quarterly macroeconomic time series. Asymmetries are suggested by many theories...
Cross-Sectional and Longitudinal Inflation Asymmetries
This paper re-examines evidence relating mean inflation to cross- sectional inflation asymmetry, and investigates longitudinal asymmetry in disaggregated price series. The asymmetry test used...
Longitudinal Inflation Asymmetry.
Using an asymmetry test which has high power and is not dominated by outliers, a longitudinal asymmetry is detected in most of the disaggregated price series investigated. This finding is intriguing,...
Cross-Sectional Inflation Asymmetries And Core Inflation: A Comment On Bryan And Cecchetti
This paper reexamines the evidence relating core inflation to cross-sectional inflation asymmetry using statistical measures that are robust to the criticism of Bryan and Cecchetti. The results here...
Richard A. Ashley, Randal J. Verbrugge
It is often unclear whether time series displaying substantial persistence should be modelled as a vector autoregression in levels (perhaps with a trend term) or in differences. The impact of this...