The Cyclicality of Sales, Regular and Effective Prices: Business Cycle and Policy Implications

Working Paper No. 12/207

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... READ MORE...

Publication date: August 2012
ISBN 9781475505573

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Publication date: August 2012