Arbeitspapier
The cyclicality of sales, regular and effective prices: Business cycle and policy implications
We study the cyclical properties of sales, regular price changes and average prices paid by consumers (effective prices) using data on prices and quantities sold for numerous retailers across many U.S. metropolitan areas. Inflation in the effective prices paid by consumers declines significantly with higher unemployment while little change occurs in the inflation rate of prices posted by retailers. This difference reflects the reallocation of household expenditures across retailers, a feature of the data which we document and quantify, rather than sales. We propose a simple model with household store-switching and assess its implications for business cycles and policymakers.
- Sprache
-
Englisch
- Erschienen in
-
Series: Bank of Canada Working Paper ; No. 2013-1
- Klassifikation
-
Wirtschaft
- Thema
-
Inflation and prices
Transmission of monetary policy
Monetary policy framework
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Coibion, Olivier
Gorodnichenko, Yuriy
Hong, Gee Hee
- Ereignis
-
Veröffentlichung
- (wer)
-
Bank of Canada
- (wo)
-
Ottawa
- (wann)
-
2013
- DOI
-
doi:10.34989/swp-2013-1
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:42 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Coibion, Olivier
- Gorodnichenko, Yuriy
- Hong, Gee Hee
- Bank of Canada
Entstanden
- 2013
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