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来源类型Working Paper
规范类型报告
DOI10.3386/w15642
来源IDWorking Paper 15642
Virtual Borders: Online Nominal Rigidities and International Market Segmentation
Jean Boivin; Robert Clark; Nicolas Vincent
发表日期2010-01-07
出版年2010
语种英语
摘要Do prices respond to macro shocks? Does the mere presence of international frontiers hinder trade? We revisit these questions by studying a dataset of online book prices for a number of US and Canadian retailers. We believe our dataset is well suited to this task for a number of reasons: (1) data for multiple retailers are available; (2) the products sold are identical across retailers; (3) the sample spans a period of large fluctuations in the bilateral exchange rate; (4) the nature of the industry is such that physical distance is irrelevant beyond shipping costs which are observable; (5) nominal frictions in the form of menu costs are arguably minimal; and (6) proxies for sales are available for most retailers. Given the unique nature of our dataset, the first objective of the paper is to document the degree of price rigidity and price dispersion. Our main findings are: online book prices display significant stickiness; there is a large degree of heterogeneity across retailers in terms of price rigidity and pricing strategy; price dispersion is high both within and across borders. Also, price levels do not appear to respond to exchange rate fluctuations. Building on the predictions from a simple two-country, multi-firm model and by exploiting information contained both in prices and quantities, we show that market segmentation is probably behind this disconnect .
主题Macroeconomics ; Business Cycles ; International Economics ; International Finance ; International Macroeconomics ; Industrial Organization ; Market Structure and Firm Performance
URLhttps://www.nber.org/papers/w15642
来源智库National Bureau of Economic Research (United States)
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资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/573317
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Jean Boivin,Robert Clark,Nicolas Vincent. Virtual Borders: Online Nominal Rigidities and International Market Segmentation. 2010.
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