Replication data for: The Cyclicality of Sales, Regular, and Effective Prices: Business Cycle and Policy Implications: Comment
Principal Investigator(s): View help for Principal Investigator(s) Etienne Gagnon; David López-Salido; Jason Sockin
Version: View help for Version V1
Name | File Type | Size | Last Modified |
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CATrep.txt | text/plain | 11.2 KB | 10/12/2019 12:38:AM |
CATstacked.txt | text/plain | 11.2 KB | 10/12/2019 12:38:AM |
GLSS_batch_common_weights | text/x-shellscript | 340 bytes | 10/12/2019 12:38:AM |
GLSS_batch_create_stratum | text/x-shellscript | 412 bytes | 10/12/2019 12:38:AM |
GLSS_batch_effective | text/x-shellscript | 415 bytes | 10/12/2019 12:38:AM |
GLSS_batch_generate_statum_indexes | text/x-shellscript | 551 bytes | 10/12/2019 12:38:AM |
GLSS_batch_import_2001_2007 | text/x-shellscript | 396 bytes | 10/12/2019 12:38:AM |
GLSS_batch_import_2008_2011 | text/x-shellscript | 359 bytes | 10/12/2019 12:38:AM |
GLSS_batch_posted | text/x-shellscript | 412 bytes | 10/12/2019 12:38:AM |
GLSS_batch_stats_censor | text/x-shellscript | 459 bytes | 10/12/2019 12:38:AM |
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Project Citation:
Gagnon, Etienne, López-Salido, David, and Sockin, Jason. Replication data for: The Cyclicality of Sales, Regular, and Effective Prices: Business Cycle and Policy Implications: Comment. Nashville, TN: American Economic Association [publisher], 2017. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-12. https://doi.org/10.3886/E113072V1
Project Description
Summary:
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Coibion, Gorodnichenko, and Hong (2015) argue that the CPI underestimates the deceleration in consumer prices during economic downturns because the index fails to account for the reallocation of consumer spending from high-price to low-price stores. We show that their conclusion hinges on some nonstandard methodological choices, including an aggressive censoring of price adjustments and a treatment for missing observations that can leave out some of the price variation. Under our preferred methodology, the regression results no longer indicate that greater store switching during downturns is a statistically or economically significant phenomenon.
Scope of Project
JEL Classification:
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D12 Consumer Economics: Empirical Analysis
E31 Price Level; Inflation; Deflation
E32 Business Fluctuations; Cycles
L25 Firm Performance: Size, Diversification, and Scope
L81 Retail and Wholesale Trade; e-Commerce
M31 Marketing
D12 Consumer Economics: Empirical Analysis
E31 Price Level; Inflation; Deflation
E32 Business Fluctuations; Cycles
L25 Firm Performance: Size, Diversification, and Scope
L81 Retail and Wholesale Trade; e-Commerce
M31 Marketing
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