The cyclicality of sales, regular and effective prices: business cycle and policy implications
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
[Washington, D.C.]
International Monetary Fund
2012
|
| Schriftenreihe: | IMF working paper
WP/12/207 |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Beschreibung: | Description based on online resource; title from pdf information screen (Ebsco, viewed Nov. 12, 2013). - "Research Department.". - "August 2012." Includes bibliographical references We study the cyclical properties of sales, regular price changes and average prices paid by consumers ("effective" prices) in a dataset containing prices and quantities sold for numerous retailers across a variety of U.S. metropolitan areas. Both the frequency and size of sales fall when local unemployment rates rise and yet the inflation rate for effective prices paid by consumers declines significantly with higher unemployment. This discrepancy can be reconciled by consumers reallocating their expenditures across retailers, a feature of the data which we document and quantify. We propose a simple model with household shopping effort and store-switching consistent with these stylized facts and document its implications for business cycles and policymakers |
| Beschreibung: | 1 Online-Ressource (74 pages) |
| ISBN: | 9781475581225 147558122X |
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| 245 | 1 | 0 | |a The cyclicality of sales, regular and effective prices |b business cycle and policy implications |c Olivier Coibion, Yuriy Gorodnichenko and Gee Hee Hong |
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| 500 | |a Includes bibliographical references | ||
| 500 | |a We study the cyclical properties of sales, regular price changes and average prices paid by consumers ("effective" prices) in a dataset containing prices and quantities sold for numerous retailers across a variety of U.S. metropolitan areas. Both the frequency and size of sales fall when local unemployment rates rise and yet the inflation rate for effective prices paid by consumers declines significantly with higher unemployment. This discrepancy can be reconciled by consumers reallocating their expenditures across retailers, a feature of the data which we document and quantify. We propose a simple model with household shopping effort and store-switching consistent with these stylized facts and document its implications for business cycles and policymakers | ||
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Datensatz im Suchindex
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| author | Coibion, Olivier |
| author_facet | Coibion, Olivier |
| author_role | aut |
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| dewey-hundreds | 300 - Social sciences |
| dewey-ones | 332 - Financial economics |
| dewey-raw | 332.152 |
| dewey-search | 332.152 |
| dewey-sort | 3332.152 |
| dewey-tens | 330 - Economics |
| discipline | Wirtschaftswissenschaften |
| format | Electronic eBook |
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| id | DE-604.BV042962557 |
| illustrated | Not Illustrated |
| indexdate | 2024-07-10T07:13:51Z |
| institution | BVB |
| isbn | 9781475581225 147558122X |
| language | English |
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| spelling | Coibion, Olivier Verfasser aut The cyclicality of sales, regular and effective prices business cycle and policy implications Olivier Coibion, Yuriy Gorodnichenko and Gee Hee Hong [Washington, D.C.] International Monetary Fund 2012 1 Online-Ressource (74 pages) txt rdacontent c rdamedia cr rdacarrier IMF working paper WP/12/207 Description based on online resource; title from pdf information screen (Ebsco, viewed Nov. 12, 2013). - "Research Department.". - "August 2012." Includes bibliographical references We study the cyclical properties of sales, regular price changes and average prices paid by consumers ("effective" prices) in a dataset containing prices and quantities sold for numerous retailers across a variety of U.S. metropolitan areas. Both the frequency and size of sales fall when local unemployment rates rise and yet the inflation rate for effective prices paid by consumers declines significantly with higher unemployment. This discrepancy can be reconciled by consumers reallocating their expenditures across retailers, a feature of the data which we document and quantify. We propose a simple model with household shopping effort and store-switching consistent with these stylized facts and document its implications for business cycles and policymakers BUSINESS & ECONOMICS / Finance bisacsh Psychologie Wirtschaft Ökonometrisches Modell Consumer behavior United States Econometric models Unemployment Effect of inflation on United States Econometric models Inflation (Finance) United States Psychological aspects Econometric models USA Gorodnichenko, Yuriy Sonstige oth Hong, Gee Hee Sonstige oth International Monetary Fund Research Department Sonstige oth http://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&db=nlabk&AN=568201 Aggregator Volltext |
| spellingShingle | Coibion, Olivier The cyclicality of sales, regular and effective prices business cycle and policy implications BUSINESS & ECONOMICS / Finance bisacsh Psychologie Wirtschaft Ökonometrisches Modell Consumer behavior United States Econometric models Unemployment Effect of inflation on United States Econometric models Inflation (Finance) United States Psychological aspects Econometric models |
| title | The cyclicality of sales, regular and effective prices business cycle and policy implications |
| title_auth | The cyclicality of sales, regular and effective prices business cycle and policy implications |
| title_exact_search | The cyclicality of sales, regular and effective prices business cycle and policy implications |
| title_full | The cyclicality of sales, regular and effective prices business cycle and policy implications Olivier Coibion, Yuriy Gorodnichenko and Gee Hee Hong |
| title_fullStr | The cyclicality of sales, regular and effective prices business cycle and policy implications Olivier Coibion, Yuriy Gorodnichenko and Gee Hee Hong |
| title_full_unstemmed | The cyclicality of sales, regular and effective prices business cycle and policy implications Olivier Coibion, Yuriy Gorodnichenko and Gee Hee Hong |
| title_short | The cyclicality of sales, regular and effective prices |
| title_sort | the cyclicality of sales regular and effective prices business cycle and policy implications |
| title_sub | business cycle and policy implications |
| topic | BUSINESS & ECONOMICS / Finance bisacsh Psychologie Wirtschaft Ökonometrisches Modell Consumer behavior United States Econometric models Unemployment Effect of inflation on United States Econometric models Inflation (Finance) United States Psychological aspects Econometric models |
| topic_facet | BUSINESS & ECONOMICS / Finance Psychologie Wirtschaft Ökonometrisches Modell Consumer behavior United States Econometric models Unemployment Effect of inflation on United States Econometric models Inflation (Finance) United States Psychological aspects Econometric models USA |
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