| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w19350 |
| 来源ID | Working Paper 19350 |
| Informational Rigidities and the Stickiness of Temporary Sales | |
| Eric Anderson; Benjamin A. Malin; Emi Nakamura; Duncan Simester; Jón Steinsson | |
| 发表日期 | 2013-08-22 |
| 出版年 | 2013 |
| 语种 | 英语 |
| 摘要 | We use unique price data to study how retailers react to underlying cost changes. Temporary sales account for 95% of price changes in our data. Simple models would, therefore, suggest that temporary sales play a central role in price responses to cost shocks. We find, however, that, in response to a wholesale cost increase, the entire increase in retail prices comes through regular price increases. Sales actually respond temporarily in the opposite direction from regular prices, as though to conceal the price hike. Additional evidence from responses to commodity cost and local unemployment shocks, as well as broader evidence from BLS data reinforces these findings. We present institutional evidence that sales are complex contingent contracts, determined substantially in advance. We show theoretically that these institutional practices leave little money “on the table”: in a price-discrimination model of sales, dynamically adjusting the size of sales yields only a tiny increase in profits. |
| 主题 | Macroeconomics ; Business Cycles ; Industrial Organization ; Market Structure and Firm Performance ; Other ; Accounting, Marketing, and Personnel |
| URL | https://www.nber.org/papers/w19350 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/577025 |
| 推荐引用方式 GB/T 7714 | Eric Anderson,Benjamin A. Malin,Emi Nakamura,et al. Informational Rigidities and the Stickiness of Temporary Sales. 2013. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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