DHSY revisited: the role of asymmetries

References

• Ball , L. and Mankiw , G. 1994 . Asymmetric price adjustment and economic fluctuations . Economic Journal , 104 : 247 – 261 .
   Web of Science ®Google Scholar
• Caballero , R. J. 1995 . Near-rationality, heterogeneity and aggregate consumption . Journal of Money, Credit and Banking , 27 : 29 – 48 .
   Web of Science ®Google Scholar
• Cook , S. 1997 . Forecasting the growth in consumers' expenditure: the treasury model Mimeo
   Google Scholar
• Cook , S. 1997 . “ Cross-vintage encompassing ” . In The Encompassing Principle and Progressive Econometric Modelling , Edited by: Mizon , ed. G. E. Oxford : Oxford University Press .
   Google Scholar
• Cook , S. and Hendry , D. F. 1994 . The theory of reduction in econometrics . Poznan Studies in the Philosophy of the Sciences and Humanities , 38 : 71 – 100 .
   Google Scholar
• Cook , S. , Holly , S. and Turner , P. 1999 . “ The power of tests for non-linearity: the case of Granger-Lee asymmetry ” . In Economic Letters 155 – 159 .
   Google Scholar
• Davidson , J. E. H. , Hendry , D. F. , Srba , F. and Yeo , S. 1978 . econometric modelling of the aggregate time series relationship between consumers' expenditure and income in the United Kingdom . Economic Journal , 88 : 661 – 692 .
   Web of Science ®Google Scholar
• Davis , E. P. 1984 . The consumption function in macroeconomic models . Applied Economics , 16 : 799 – 838 .
   Web of Science ®Google Scholar
• Deaton , A. S. 1992 . Understanding Consumption , Oxford : Oxford University Press .
   Google Scholar
• Escribano , A. and Pfann , G. 1997 . Nonlinear error correction, asymmetric adjustment and cointegration . Economic Modelling , 15 ( 2 ) : 197 – 216 .
   Web of Science ®Google Scholar
• Gale , D. 1996 . Delay and cycles . Review of Economic Studies , 63 ( 2 ) : 169 – 198 .
   Web of Science ®Google Scholar
• Granger , C. W. J. and Lee , T.-H. 1989 . Investigation of production, sales and inventory relationships using multicointegration and non-symmetric error correction models . Journal of Applied Econometrics , 4 : S145 – S159 .
   Web of Science ®Google Scholar
• Hall , R. E. 1978 . Stochastic implications of the life cycle-permanent income hypothesis: theory and evidence . Journal of Political Economy , 86 : 971 – 987 .
   Web of Science ®Google Scholar
• Hendry , D. F. and Doornik , J. A. 1996 . Empirical Econometric Modelling System Using PcGive 9.0 for Windows , London : International Thomson Business Press .
   Google Scholar
• Hendry , D. F. , Muellbauer , J. N. J. and Murphy , A. 1990 . The econometrics of DHSY in A Century of Economic , Edited by: Hey , J. D. and Winch , D. Oxford : Basil Blackwell .
   Google Scholar
• Hendry , D. F. and von Ungern-Sternberg , T. 1980 . “ Liquidity and inflation effects on consumers' behaviour ” . In Essays in the Theory and Measurement of Consumers' Behaviour , Edited by: Deaton , A. S. and Winch , D. Cambridge : Cambridge University Press .
   Google Scholar
• Holly , S. and Stannett , M. 1995 . Are there asymmetries in UK consumption? A time series analysis . Applied Economics , 27 : 767 – 772 .
   Web of Science ®Google Scholar
• Krane , S. D. 1994 . The distinction between inventory holding and stockout costs: implications for target inventories, asymmetric adjustment and the effect of aggregation on production smoothing . International Economic Review , 35 : 117 – 136 .
   Google Scholar
• Mills , F. 1927 . The Behaviour of Price , New York : National Bureau of Economic Research .
   Google Scholar