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) Etienne Gagnon; David López-Salido; Jason Sockin

Name	File Type	Size	Last Modified
CATrep.txt	text/plain	11.2 KB	10/12/2019 12:38:AM
CATstacked.txt	text/plain	11.2 KB	10/12/2019 12:38:AM
GLSS_batch_common_weights	text/x-shellscript	340 bytes	10/12/2019 12:38:AM
GLSS_batch_create_stratum	text/x-shellscript	412 bytes	10/12/2019 12:38:AM
GLSS_batch_effective	text/x-shellscript	415 bytes	10/12/2019 12:38:AM
GLSS_batch_generate_statum_indexes	text/x-shellscript	551 bytes	10/12/2019 12:38:AM
GLSS_batch_import_2001_2007	text/x-shellscript	396 bytes	10/12/2019 12:38:AM
GLSS_batch_import_2008_2011	text/x-shellscript	359 bytes	10/12/2019 12:38:AM
GLSS_batch_posted	text/x-shellscript	412 bytes	10/12/2019 12:38:AM
GLSS_batch_stats_censor	text/x-shellscript	459 bytes	10/12/2019 12:38:AM

Project Citation:

Gagnon, Etienne, López-Salido, David, and Sockin, Jason. Replication data for: The Cyclicality of Sales, Regular, and Effective Prices: Business Cycle and Policy Implications: Comment. Nashville, TN: American Economic Association [publisher], 2017. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-12. https://doi.org/10.3886/E113072V1

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

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Published Versions

V1 [2019-10-12]

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