| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w18273 |
| 来源ID | Working Paper 18273 |
| The Cyclicality of Sales, Regular and Effective Prices: Business Cycle and Policy Implications | |
| Olivier Coibion; Yuriy Gorodnichenko; Gee Hee Hong | |
| 发表日期 | 2012-08-02 |
| 出版年 | 2012 |
| 语种 | 英语 |
| 摘要 | We study the cyclical properties of sales, regular price changes and average prices paid by consumers ("effective" prices) in a dataset containing prices and quantities sold for numerous retailers across a variety of U.S. metropolitan areas. Both the frequency and size of sales fall when local unemployment rates rise and yet the inflation rate for effective prices paid by consumers declines significantly with higher unemployment. This discrepancy can be reconciled by consumers reallocating their expenditures across retailers, a feature of the data which we document and quantify. We propose a simple model with household shopping effort and store-switching consistent with these stylized facts and document its implications for business cycles and policymakers. |
| 主题 | Macroeconomics ; Business Cycles ; Money and Interest Rates ; Monetary Policy |
| URL | https://www.nber.org/papers/w18273 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/575949 |
| 推荐引用方式 GB/T 7714 | Olivier Coibion,Yuriy Gorodnichenko,Gee Hee Hong. The Cyclicality of Sales, Regular and Effective Prices: Business Cycle and Policy Implications. 2012. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w18273.pdf（511KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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