| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP14633 |
| DP14633 A Sticky-Price View of Hoarding | |
| Aureo de Paula; Christopher Hansman; Harrison Hong; Vishal Singh | |
| 发表日期 | 2020-04-17 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | We show that sticky prices exacerbate household hoarding of storable goods. When stores are slow to adjust prices following a cost shock, households have an incentive to stockpile just as in a typical retail sale. This incentive is present even in the absence of traditional panic or precautionary motives for hoarding. Using detailed US supermarket scanner data covering the 2008 global rice crisis—a shock triggered by an Indian rice export ban—we find that household hoarding anticipated retail price adjustments. We construct forecast tests relating the cross-section of product or store-level price adjustments to the expectations implied by consumer purchases. Bias and efficiency tests reject panic/precautionary motives in favor of a sticky price view. |
| 主题 | Industrial Organization |
| URL | https://cepr.org/publications/dp14633-0 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/543544 |
| 推荐引用方式 GB/T 7714 | Aureo de Paula,Christopher Hansman,Harrison Hong,et al. DP14633 A Sticky-Price View of Hoarding. 2020. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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