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) David López-Salido; Etienne Gagnon; Jason Sockin

Name	File Type	Size	Last Modified
CATrep.txt	text/plain	11.2 KB	08/02/2019 07:35:PM
CATstacked.txt	text/plain	11.2 KB	08/02/2019 07:35:PM
GLSS_batch_common_weights	text/x-shellscript	340 bytes	08/02/2019 07:35:PM
GLSS_batch_create_stratum	text/x-shellscript	412 bytes	08/02/2019 07:35:PM
GLSS_batch_effective	text/x-shellscript	415 bytes	08/02/2019 07:35:PM
GLSS_batch_generate_statum_indexes	text/x-shellscript	551 bytes	08/02/2019 07:35:PM
GLSS_batch_import_2001_2007	text/x-shellscript	396 bytes	08/02/2019 07:35:PM
GLSS_batch_import_2008_2011	text/x-shellscript	359 bytes	08/02/2019 07:35:PM
GLSS_batch_posted	text/x-shellscript	412 bytes	08/02/2019 07:35:PM
GLSS_batch_stats_censor	text/x-shellscript	459 bytes	08/02/2019 07:35:PM

Project Citation:

Project Description

Summary: 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:
      E31 Price Level • Inflation • Deflation
      D12 Consumer Economics: Empirical Analysis
      L81 Retail and Wholesale Trade • e-Commerce
      L25 Firm Performance: Size, Diversification, and Scope
      M31 Marketing
      E32 Business Fluctuations • Cycles

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Published Versions

V1 [2019-08-02]

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