| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w19474 |
| 来源ID | Working Paper 19474 |
| Prices and Supply Disruptions during Natural Disasters | |
| Alberto Cavallo; Eduardo Cavallo; Roberto Rigobon | |
| 发表日期 | 2013-09-26 |
| 出版年 | 2013 |
| 语种 | 英语 |
| 摘要 | We study the daily behavior of supermarket prices and product availability following two recent natural disasters: the 2010 earthquake in Chile and the 2011 earthquake in Japan. In both cases there was an immediate and persistent effect on product availability. The number of goods available for sale fell 32% in Chile and 17% in Japan from the day of the disaster to its lowest point, which occurred 61 and 18 days after the earthquakes, respectively. Product availability recovered slowly, and a significant share of goods remained out of stock after six months. By contrast, prices were relatively stable and did not increase for months after the earthquakes, even for goods that were experiencing severe stockouts. These trends are present at all levels of aggregation, but appear strongly in non-perishable goods and emergency products. Our findings shed light into the determinants of sticky prices in conditions where traditional adjustment costs are less important. In particular, we look at the frequency and magnitudes of price changes in both countries and find that the results in Chile are consistent with pricing models where retailers have fear of "customer anger". In Japan, by contrast, the evidence suggests a bigger role for supply disruptions that restricted the ability of retailers to re-stock goods after the earthquake. |
| 主题 | Macroeconomics ; Consumption and Investment ; Business Cycles ; Development and Growth ; Country Studies ; Environmental and Resource Economics ; Environment |
| URL | https://www.nber.org/papers/w19474 |
| 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/577148 |
| 推荐引用方式 GB/T 7714 | Alberto Cavallo,Eduardo Cavallo,Roberto Rigobon. Prices and Supply Disruptions during Natural Disasters. 2013. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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