Replication data for: Product Creation and Destruction: Evidence and Price Implications

Principal Investigator(s):  View help for Principal Investigator(s) Christian Broda; David E. Weinstein

Version:  View help for Version V1

Name File Type Size Last Modified
._ATable1.do application/octet-stream 4 KB 10/11/2019 10:49:AM
._ATable10.do application/octet-stream 4 KB 10/11/2019 10:49:AM
._ATable2.do application/octet-stream 4 KB 10/11/2019 10:49:AM
._ATable3.do application/octet-stream 4 KB 10/11/2019 10:49:AM
._ATable4.do application/octet-stream 4 KB 10/11/2019 10:49:AM
._ATable5.do application/octet-stream 4 KB 10/11/2019 10:49:AM
._ATable6_part1.do application/octet-stream 4 KB 10/11/2019 10:49:AM
._ATable6_part2.do application/octet-stream 4 KB 10/11/2019 10:49:AM
._ATable6_part3.do application/octet-stream 4 KB 10/11/2019 10:49:AM
._ATable7.do application/octet-stream 4 KB 10/11/2019 10:49:AM
    Total of 56 records. Records per page
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Project Description

Summary:  View help for Summary This paper describes the extent of product creation and destruction in a large sector of the US economy. We find four times more entry and exit in product markets than is found in labor markets because most product turnover happens within firms. Net product creation is strongly procyclical and primarily driven by creation rather than destruction. We find that a cost-of-living index that takes product turnover into account is 0.8 percentage points per year lower than a "fixed goods" price index like the CPI. The procyclicality of the bias implies that business cycles are more volatile than indicated by official statistics. (JEL E31, E32, L11, O31)

Scope of Project

JEL Classification:  View help for JEL Classification
      E31 Price Level; Inflation; Deflation
      E32 Business Fluctuations; Cycles
      L11 Production, Pricing, and Market Structure; Size Distribution of Firms
      O31 Innovation and Invention: Processes and Incentives


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Published Versions

V1 [2019-10-11]

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