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The Cyclical Response of Advertising Refutes Counter-Cyclical Profit Margins in Favor of Product-Market Frictions
Hall, Robert E. - 2012
According to the standard model, advertising is remarkably sensitive to profit margins. Firms advertise to stimulate … macroeconomics, variations in profit margins over the business cycle have a key role. A widening of margins can explain the rise in …-and-matching map a decline in wages to higher unemployment. But a rise in profit margins should expand advertising by a lot. Really a …
Persistent link: https://www.econbiz.de/10012460290
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Customers and Retail Growth
Einav, Liran; Klenow, Peter J.; Levin, Jonathan; … - National Bureau of Economic Research - 2021
Using Visa debit and credit card transactions in the U.S. from 2016 to 2019, we document the importance of customers in accounting for sales variation across merchants, across stores within retail chains, and over time for individual merchants and stores. Customers, as opposed to transactions...
Persistent link: https://www.econbiz.de/10012794589
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The Margins of Global Sourcing : Theory and Evidence from U.S. Firms
Antràs, Pol - 2014
We develop a quantifiable multi-country sourcing model in which firms self-select into importing based on their productivity and country-specific variables. In contrast to canonical export models where firm profits are additively separable across destination markets, global sourcing decisions...
Persistent link: https://www.econbiz.de/10012457894
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Sales Mechanisms in Online Markets : What Happened to Internet Auctions?
Einav, Liran - 2013
Consumer auctions were very popular in the early days of internet commerce, but today online sellers mostly use posted prices. Data from eBay shows that compositional shifts in the items being sold, or the sellers offering these items, cannot account for this evolution. Instead, the returns to...
Persistent link: https://www.econbiz.de/10012459642
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Quality Change and other Influences on Measures of Export Prices of Manufactured Goods and the Terms of Trade between Primary Products and Manufacture
Lipsey, Robert E. - 1994
Measures of long term trends in world export prices of manufactured goods and in the terms of trade between manufactured goods and primary products are sensitive to the choice of country weights and of base periods and, most important of all, the treatment of quality change. Later base periods...
Persistent link: https://www.econbiz.de/10012474261
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Energy, Groundwater, and Crop Choice
Burlig, Fiona; Preonas, Louis; Woerman, Matt - National Bureau of Economic Research - 2021
Groundwater is a key resource for agricultural production globally. Increasingly rapid aquifer drawdowns--as well as the policies intended to increase their sustainability--increase costs to agricultural producers, with unknown consequences. This paper provides the first large-scale empirical...
Persistent link: https://www.econbiz.de/10012510584
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The Production Relocation and Price Effects of U.S. Trade Policy : The Case of Washing Machines
Flaaen, Aaron B. - 2019
We analyze several rounds of U.S. import restrictions against washing machines. Using retail price data, we estimate the price effect of these import restrictions by comparing the price changes of washers with those of other appliances. We find that in response to the 2018 tariffs on nearly all...
Persistent link: https://www.econbiz.de/10012479717
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Tax Prices and Charitable Giving : Projected Changes in Donations Under the 2017 TCJA
Meer, Jonathan - 2019
We estimate the tax price elasticity of charitable giving using newly-available data from the Panel Study of Income Dynamics spanning 2001-2017. We find that households that always itemize are less sensitive to changes in the tax treatment of donations than house-holds that switch itemizing...
Persistent link: https://www.econbiz.de/10012480395
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Wages, Minimum Wages, and Price Pass-Through : The Case of McDonald's Restaurants
Ashenfelter, Orley; Jurajda, Štěpán - National Bureau of Economic Research - 2021
We use price and wage data from McDonald's restaurants to provide evidence on wage increases, labor-saving technology introduction, and price pass-through by a large low-wage employer facing a flurry of minimum wage hikes from 2016-2020. We estimate an elasticity of hourly wage rates with...
Persistent link: https://www.econbiz.de/10012482721
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What U.S. Data Should be Used to Measure the Price Elasticity of Demand for Alcohol?
Ruhm, Christopher J. - 2011
This paper examines how estimates of the price elasticity of demand for beer vary with the choice of alcohol price series examined. Our most important finding is that the commonly used ACCRA price data are unlikely to reliably indicate alcohol demand elasticities--estimates obtained from this...
Persistent link: https://www.econbiz.de/10012461080