Abstract
For robust policymaking and econometric modelling, it is essential to know whether macroeconomic aggregates contain asymmetric behaviour. The aim of this note is to investigate asymmetries in Singapore's macroeconomic aggregates using the Randles et al . (1980) Triples test. We examine both deepness and steepness asymmetries, and find that for Consumer Price Index (CPI) and unemployment rate there is evidence for deepness asymmetry. On the basis of this finding, we caution policymakers.
Notes
1 For related work, see Bodman (Citation2001), Peel and Speight (Citation1996), Speight (Citation1997), Andreano and Savio (Citation2002), Stanca (Citation1999) and Holly and Stannett (Citation1995), among others.