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

Gee Hee Hong, Yuriy Gorodnichenko & Olivier Coibion
We study the cyclical properties of sales, regular price changes, and average prices paid by consumers (\"effective\" prices) using data on prices and quantities sold for numerous retailers across many US metropolitan areas. Inflation in the effective prices paid by consumers declines significantly with higher unemployment while little change occurs in the inflation rate of prices posted by retailers. This difference reflects the reallocation of household expenditures across retailers, a feature of the data which...
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