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 Theory of Sticky Rents: Search and Bargaining with Incomplete Information.” With Joshua H. Gallin. 2019, Journal of Economic Theory. (Conditionally accepted.)
“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.
“Frequency Dependence in Regression Model Coefficients: An Alternative Approach for Modeling Nonlinear Dynamic Relationships in Time Series.” With Richard A. Ashley. Econometric Reviews, 2009, 28(1–3): 4–20.