The Cyclicality of Sales, Regular and Effective Prices: Business Cycle and Policy Implications
The Cyclicality of Sales, Regular and Effective Prices: Business Cycle and Policy Implications
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DOI：
10.1257/aer.20121546
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发表时间：
2012-08
期刊：
影响因子：
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通讯作者：
Olivier Coibion;Y. Gorodnichenko;G. Hong
中科院分区：
文献类型：
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作者：
Olivier Coibion;Y. Gorodnichenko;G. Hong
我们讨论了使用不同的删失阈值和插补程序如何影响Coibion，Gorodnichenko和Hong（2015）的基线结果。更高的删失阈值会引入测量误差和离群值，这些误差和离群值会在加权方案的结果中产生广泛的变异性，但明确控制离群值的方法证实了Coibion、Gorodnichenko和Hong（2015）对所有删失阈值的结果。我们还说明了如何劳工统计局的方法来估算缺失的价格可以引入一个周期性的偏见时，商店转换的数据中存在的公布的价格通胀的措施。(JEL D12、E31、E32、L25、L81）
We address how using different censoring thresholds and imputation procedures affects the baseline results of Coibion, Gorodnichenko, and Hong (2015). Higher censoring thresholds introduce measure ment error and outliers that generate wide variability in results across weighting schemes, but methods that explicitly control for outliers confirm the results of Coibion, Gorodnichenko, and Hong (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. (JEL D12, E31, E32, L25, L81)