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The responses of internet retail prices to aggregate shocks: A high-frequency approach

Yuriy Gorodnichenko, Viacheslav Sheremirov, Sasha Talavera Orcid Logo

Economics Letters, Volume: 164, Pages: 124 - 127

Swansea University Author: Sasha Talavera Orcid Logo

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DOI (Published version): 10.1016/j.econlet.2018.01.014

Abstract

Using a unique dataset of daily price listings and the associated number of clicks for precisely defined goods from a major shopping platform, we examine whether internet prices respond to aggregate shocks at a high frequency. Despite internet retailers’ unique position to exercise dynamic pricing d...

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Published in: Economics Letters
ISSN: 01651765
Published: 2018
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URI: https://cronfa.swan.ac.uk/Record/cronfa39296
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first_indexed 2018-04-03T13:38:17Z
last_indexed 2019-07-23T21:12:20Z
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spelling 2019-07-23T16:33:46.9415732 v2 39296 2018-04-03 The responses of internet retail prices to aggregate shocks: A high-frequency approach c33f8979a1b19d178652b3c848176829 0000-0002-4799-778X Sasha Talavera Sasha Talavera true false 2018-04-03 BAF Using a unique dataset of daily price listings and the associated number of clicks for precisely defined goods from a major shopping platform, we examine whether internet prices respond to aggregate shocks at a high frequency. Despite internet retailers’ unique position to exercise dynamic pricing due to low costs of nominal price adjustment, we find little evidence that online prices respond promptly to unanticipated announcements about macroeconomic activity. Shopping activity also appears unresponsive to aggregate shocks, suggesting that internet retailers may follow individual demand for their products more closely than aggregate demand. Journal Article Economics Letters 164 124 127 01651765 online markets, price stickiness, aggregate shocks, high-frequency approach 31 3 2018 2018-03-31 10.1016/j.econlet.2018.01.014 https://www.sciencedirect.com/science/article/pii/S0165176518300144 COLLEGE NANME Accounting and Finance COLLEGE CODE BAF Swansea University 2019-07-23T16:33:46.9415732 2018-04-03T09:18:56.3338370 Faculty of Humanities and Social Sciences School of Management - Business Management Yuriy Gorodnichenko 1 Viacheslav Sheremirov 2 Sasha Talavera 0000-0002-4799-778X 3 0039296-03042018091953.pdf GST-OnlinePricesAndHighFrequencyAggregateShocks.pdf 2018-04-03T09:19:53.0870000 Output 128184 application/pdf Accepted Manuscript true 2019-07-31T00:00:00.0000000 18 month embargo. true eng
title The responses of internet retail prices to aggregate shocks: A high-frequency approach
spellingShingle The responses of internet retail prices to aggregate shocks: A high-frequency approach
Sasha Talavera
title_short The responses of internet retail prices to aggregate shocks: A high-frequency approach
title_full The responses of internet retail prices to aggregate shocks: A high-frequency approach
title_fullStr The responses of internet retail prices to aggregate shocks: A high-frequency approach
title_full_unstemmed The responses of internet retail prices to aggregate shocks: A high-frequency approach
title_sort The responses of internet retail prices to aggregate shocks: A high-frequency approach
author_id_str_mv c33f8979a1b19d178652b3c848176829
author_id_fullname_str_mv c33f8979a1b19d178652b3c848176829_***_Sasha Talavera
author Sasha Talavera
author2 Yuriy Gorodnichenko
Viacheslav Sheremirov
Sasha Talavera
format Journal article
container_title Economics Letters
container_volume 164
container_start_page 124
publishDate 2018
institution Swansea University
issn 01651765
doi_str_mv 10.1016/j.econlet.2018.01.014
college_str Faculty of Humanities and Social Sciences
hierarchytype
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 - Business Management{{{_:::_}}}Faculty of Humanities and Social Sciences{{{_:::_}}}School of Management - Business Management
url https://www.sciencedirect.com/science/article/pii/S0165176518300144
document_store_str 1
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description Using a unique dataset of daily price listings and the associated number of clicks for precisely defined goods from a major shopping platform, we examine whether internet prices respond to aggregate shocks at a high frequency. Despite internet retailers’ unique position to exercise dynamic pricing due to low costs of nominal price adjustment, we find little evidence that online prices respond promptly to unanticipated announcements about macroeconomic activity. Shopping activity also appears unresponsive to aggregate shocks, suggesting that internet retailers may follow individual demand for their products more closely than aggregate demand.
published_date 2018-03-31T03:49:53Z
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score 10.998093

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