Verbrugge, Randal Verbrugge Randal - In: Studies in Nonlinear Dynamics & Econometrics 2 (2007) 1, pp. 15-22
This paper accomplishes two goals. First, it introduces a powerful nonparametric test of asymmetry to the economics literature, namely, the triples test of Randles et al. (1980). Second, it documents the presence of two specific kinds of asymmetry in U.S. macroeconomic time series. Depth, or...