The Cyclicality of Sales, Regular and Effective Prices: Business Cycle and Policy Implications: Reply
成果类型：
Article
署名作者：
Coibion, Olivier; Gorodnichenko, Yuriy; Hong, Gee Hee
署名单位：
University of Texas System; University of Texas Austin; University of California System; University of California Berkeley; International Monetary Fund
刊物名称：
AMERICAN ECONOMIC REVIEW
ISSN/ISSBN：
0002-8282
DOI：
10.1257/aer.20171338
发表日期：
2019
页码：
314-324
关键词：
摘要：
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, Gorodnichenko, and Hong (2015) for all censoring thresholds. We also illustrate how the BIS'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.