This paper examines the evidence on asymmetries in the effects of activity on inflation. Data for the G-7 countries are found to strongly support the view that

This paper examines the evidence on asymmetries in the effects of activity on inflation. Data for the G-7 countries are found to strongly support the view that

The view that tight and easy monetary policy produces asymmetric effects on economic activity has long been recognized in policy debates and in the academic pro

This paper empirically explores how fiscal policy (represented by increases in government spending) has asymmetric effects on economic activity at different lev