Modern theories of sales make conflicting predictions about the temporal pattern of sales, which we test using grocery scanner data. We examine both frozen orange juice, which consumers can store, and refrigerated orange juice, which is more perishable, to determine what role-if any-durability...

In this paper different models of vertical relationships between manufacturers and retailers in the supermarket industry are compared. Demand estimates are used to compute price-cost margins for retailers and manufacturers under different supply models when wholesale prices are not observed. The...

How a cost shock is passed through into final consumer prices may relate to nominal price stickiness and rigidities, the existence of non adjustable cost components, strategic mark-up adjustments, or other contract terms along the supply distribution chain. This paper presents a simple framework...

In this paper, different models of vertical relationships between manufacturersand retailers in the supermarket industry are compared. Demand estimates areused to compute price-cost margins for retailers and manufacturers underdifferent supply models when wholesale prices are not observed. The...

With an eye to providing a methodology for tracking the dynamic integrity of prices for important market indicators, in this paper we use Benford second digit reference distribution to track the daily London Interbank Offered Rate (Libor) over the period 2005-2008. This reference, known as...

A large share of international trade occurs through intra-firm transactions. We show that this common cross-border organization of the firm has implications for the well-documented incomplete transmission of shocks across such borders. We present new evidence of an inverse relationship between a...

The combination of habits and a forward outlook suggests that consumers will be sensitive not justto prices but to price dynamics. In particular, rational habits models suggest 1. that price volatilityand uncertainty will reduce demand for a habit-forming good and 2. that such volatility will...