Lost in Transit: Product Replacement Bias and Pricing to Market

In the microdata underlying US trade price indexes, 40 percent of products are replaced before a single price change is observed and 70 percent are replaced after two price changes or fewer. A price index that focuses on price changes for identical items may, therefore, miss an important component o...

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Bibliographic Details
Published in:The American economic review 2012-12, Vol.102 (7), p.3277-3316
Main Authors: Nakamura, Emi, Steinsson, Jón
Format: Article
Language:English
Subjects:
Accounting
American dollar
Bias
Changes
Consumer goods
Datasets
Economic indicators
Economic models
Economic statistics
Economic theory
Estimates
Exchange rates
Exports
Foreign exchange rates
Import prices
Imports
Indexes
International trade
Price changes
Price index
Price indexes
Price indices
Price level changes
Prices
Pricing
Product development
Products
Real exchange rates
Studies
Terms of trade
U.S.A
US exports
Volatility
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