Replication data for: The Cyclicality of Sales, Regular and Effective Prices: Business Cycle and Policy Implications: Reply
Principal Investigator(s): View help for Principal Investigator(s) Olivier Coibion; Yuriy Gorodnichenko; Gee Hee Hong
Version: View help for Version V1
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Project Citation:
Coibion, Olivier, Gorodnichenko, Yuriy, and Hong, Gee Hee. Replication data for: The Cyclicality of Sales, Regular and Effective Prices: Business Cycle and Policy Implications: Reply. Nashville, TN: American Economic Association [publisher], 2019. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-12. https://doi.org/10.3886/E113196V1
Project Description
Summary:
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We address how using different censoring thresholds and imputation procedures affects the baseline results of Coibion, Gorodnichenko, and Hong (2015). Higher censoring thresholds introduce measurement error and outliers that generate wide variability in results across weighting schemes, but methods that explicitly control for outliers confirm the results of Coibion et al. (2015) for all censoring thresholds. We also illustrate how the BLS's approach to imputing missing prices can introduce a cyclical bias into measures of posted price inflation when store-switching is present in the data.
Scope of Project
JEL Classification:
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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
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
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