Journal
REVIEW OF ECONOMICS AND STATISTICS
Volume 100, Issue 1, Pages 105-119Publisher
MIT PRESS
DOI: 10.1162/REST_a_00652
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Funding
- Warburg Fund at Harvard University
- JFRAP at MIT Sloan
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I use daily prices collected from online retailers in five countries to study the impact of measurement bias on three common price stickiness statistics. Relative to previous results, I find that online prices have longer durations, with fewer price changes close to 0, and hazard functions that initially increase over time. I show that time-averaging and imputed prices in scanner and CPI data can fully explain the differences with the literature. I then report summary statistics for the duration and size of price changes using scraped data collected from 181 retailers in 31 countries.
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