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Price Setting in Online Markets: Basic Facts, International Comparisons, and Cross-Border Integration

Yuriy Gorodnichenko, Sasha Talavera Orcid Logo

American Economic Review, Volume: 107, Issue: 1, Pages: 249 - 282

Swansea University Author: Sasha Talavera Orcid Logo

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DOI (Published version): 10.1257/aer.20141127

Abstract

We document basic facts about prices in online markets in the United States and Canada, which is a rapidly growing segment of the retail sector. Relative to prices in regular stores, prices in online markets are more flexible and exhibit stronger pass-through (60-75 percent) and faster convergence (...

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Published in: American Economic Review
ISSN: 0002-8282
Published: 2017
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URI: https://cronfa.swan.ac.uk/Record/cronfa31861
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spelling 2021-01-18T17:49:43.2791797 v2 31861 2017-02-06 Price Setting in Online Markets: Basic Facts, International Comparisons, and Cross-Border Integration c33f8979a1b19d178652b3c848176829 0000-0002-4799-778X Sasha Talavera Sasha Talavera true false 2017-02-06 CBAE We document basic facts about prices in online markets in the United States and Canada, which is a rapidly growing segment of the retail sector. Relative to prices in regular stores, prices in online markets are more flexible and exhibit stronger pass-through (60-75 percent) and faster convergence (half-life less than two months) in response to movements of the nominal exchange rate. Multiple margins of adjustment are active in the process of responding to nominal exchange rate shocks. Properties of goods, sellers, and markets are systematically related to pass-through and the speed of price adjustment for international price differentials. Journal Article American Economic Review 107 1 249 282 0002-8282 1 1 2017 2017-01-01 10.1257/aer.20141127 http://dx.doi.org/10.1257/aer.20141127 COLLEGE NANME Management School COLLEGE CODE CBAE Swansea University 2021-01-18T17:49:43.2791797 2017-02-06T08:38:46.2811162 Faculty of Humanities and Social Sciences School of Management - Accounting and Finance Yuriy Gorodnichenko 1 Sasha Talavera 0000-0002-4799-778X 2 0031861-02032017101937.pdf Talavera.pdf 2017-03-02T10:19:37.5070000 Output 1277090 application/pdf Version of Record true 2017-03-02T00:00:00.0000000 true eng
title Price Setting in Online Markets: Basic Facts, International Comparisons, and Cross-Border Integration
spellingShingle Price Setting in Online Markets: Basic Facts, International Comparisons, and Cross-Border Integration
Sasha Talavera
title_short Price Setting in Online Markets: Basic Facts, International Comparisons, and Cross-Border Integration
title_full Price Setting in Online Markets: Basic Facts, International Comparisons, and Cross-Border Integration
title_fullStr Price Setting in Online Markets: Basic Facts, International Comparisons, and Cross-Border Integration
title_full_unstemmed Price Setting in Online Markets: Basic Facts, International Comparisons, and Cross-Border Integration
title_sort Price Setting in Online Markets: Basic Facts, International Comparisons, and Cross-Border Integration
author_id_str_mv c33f8979a1b19d178652b3c848176829
author_id_fullname_str_mv c33f8979a1b19d178652b3c848176829_***_Sasha Talavera
author Sasha Talavera
author2 Yuriy Gorodnichenko
Sasha Talavera
format Journal article
container_title American Economic Review
container_volume 107
container_issue 1
container_start_page 249
publishDate 2017
institution Swansea University
issn 0002-8282
doi_str_mv 10.1257/aer.20141127
college_str Faculty of Humanities and Social Sciences
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hierarchy_top_id facultyofhumanitiesandsocialsciences
hierarchy_top_title Faculty of Humanities and Social Sciences
hierarchy_parent_id facultyofhumanitiesandsocialsciences
hierarchy_parent_title Faculty of Humanities and Social Sciences
department_str School of Management - Accounting and Finance{{{_:::_}}}Faculty of Humanities and Social Sciences{{{_:::_}}}School of Management - Accounting and Finance
url http://dx.doi.org/10.1257/aer.20141127
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description We document basic facts about prices in online markets in the United States and Canada, which is a rapidly growing segment of the retail sector. Relative to prices in regular stores, prices in online markets are more flexible and exhibit stronger pass-through (60-75 percent) and faster convergence (half-life less than two months) in response to movements of the nominal exchange rate. Multiple margins of adjustment are active in the process of responding to nominal exchange rate shocks. Properties of goods, sellers, and markets are systematically related to pass-through and the speed of price adjustment for international price differentials.
published_date 2017-01-01T19:03:40Z
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score 11.04748

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