Chen, Haipeng (Allan); Levy, Daniel; Ray, Sourav; … - In: Journal of Monetary Economics 55 (2008) 4, pp. 728-737
the small.” Furthermore, it turns out that inflation offers only a partial explanation for the finding. Indeed …, substantial proportion of the asymmetry remains unexplained, even after accounting for the inflation. For example, the asymmetry … holds also after excluding periods of inflation from the data, and even for products whose price had not increased. The …