Randal Verbrugge is a senior research economist in the Research Department at the Federal Reserve Bank of Cleveland. He participates in the development of the Cleveland Reserve Bank’s forecasting models. His primary areas of research are inflation modeling and measurement, macroeconomics, and housing. He has conducted research on rent-setting, inflation dynamics, the housing bubble, monetary policy, robust estimation, and models featuring local interactions.
Prior to joining the Bank in 2013, Dr. Verbrugge was a senior research economist at the Bureau of Labor Statistics. He began his career as an assistant professor of economics at Virginia Tech in 1995, and he also taught economics for many years at Georgetown University.
Dr. Verbrugge received his BA in economics and political science from Calvin College and his MS in statistics and his MA and PhD in economics from Stanford University.
“A New Look at Historical Monetary Policy (and the Great Inflation) through the Lens of a Persistence-Dependent Policy Rule.” With Richard Ashley and Kwok Ping Tsang. Oxford Economic Papers, 2020, 72(3): 672–691.
“A Theory of Sticky Rents: Search and Bargaining with Incomplete Information.” With Joshua H. Gallin. 2019, Journal of Economic Theory, 183: 478–519.
“The Equilibrium Effect of Fundamentals on House Prices and Rents.” With Kamila Sommer and Paul Sullivan. Journal of Monetary Economics, 2013, 60(7).
“Do the CPI’s Utilities Adjustments for OER Distort Inflation Measurement?” Journal of Business and Economic Statistics, 2012, 30(1): 143–148.