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- June 2024
- Article
Inflation with COVID Consumption Baskets
By: Alberto Cavallo
The Covid-19 pandemic led to changes in expenditure patterns that introduced significant bias in the measurement of Consumer Price Index (CPI) inflation. Using publicly-available data on card transactions, I updated the official CPI weights and re-calculated inflation... View Details
Keywords: COVID; Consumer Expenditures; CPI; Inflation; Consumer Behavior; Inflation and Deflation; Health Pandemics
Cavallo, Alberto. "Inflation with COVID Consumption Baskets." Special Issue on The Global Economy: Looking Back, Moving Forward, Part II. IMF Economic Review 72, no. 2 (June 2024): 902–917.
- 2023
- Working Paper
Detecting Structural Breaks in Inflation Trends: A High-Frequency Approach
By: Alberto Cavallo and Gaston Garcia Zavaleta
We combine standard structural-break methods with high-frequency data to identify shifts in inflation trends. We use this approach to study the inflation dynamics of 25 countries from January 2022 to April 2023 and find evidence of a broad-based slowdown in about half... View Details
Cavallo, Alberto, and Gaston Garcia Zavaleta. "Detecting Structural Breaks in Inflation Trends: A High-Frequency Approach." Working Paper, May 2023. (Preliminary draft.)
- March 2021
- Article
Targeted Price Controls on Supermarket Products
By: Alberto Cavallo and Diego Aparicio
We study the impact of targeted price controls for supermarket products in Argentina from 2007 to 2015. Using web scraping, we collected daily prices for controlled and non-controlled goods and measured the differential effects on inflation, product availability, and... View Details
Keywords: Prices; Controls; Price Dispersion; Economics; Price; Cost Management; Goods and Commodities; Retail Industry; Argentina
Cavallo, Alberto, and Diego Aparicio. "Targeted Price Controls on Supermarket Products." Review of Economics and Statistics 103, no. 1 (March 2021): 60–71.
- 2019
- Working Paper
Real Exchange Rate Behavior: New Evidence from Matched Retail Goods
By: Alberto Cavallo, Brent Neiman and Roberto Rigobon
We use a dataset containing daily prices for thousands of matched retail products in nine countries to study tradable-goods real exchange rates. Prices were collected from the websites of large multi-channel retailers and then carefully matched into narrowly-defined... View Details
Keywords: Purchasing Power Parity; Online Prices; Real Exchange Rate; Macroeconomics; Currency Exchange Rate; Price; Internet and the Web
Cavallo, Alberto, Brent Neiman, and Roberto Rigobon. "Real Exchange Rate Behavior: New Evidence from Matched Retail Goods." Harvard Business School Working Paper, No. 20-040, January 2019.
- March 2018
- Article
Scraped Data and Sticky Prices
By: Alberto Cavallo
I use daily prices collected from online retailers in five countries to study the impact of measurement bias on three common price stickiness statistics. Relative to previous results, I find that online prices have longer durations, with fewer price changes close to... View Details
Keywords: Online Data; Scraped Data; Sticky Prices; Scanner Data; Consumer Price Index; Price; Data and Data Sets
Cavallo, Alberto. "Scraped Data and Sticky Prices." Review of Economics and Statistics 100, no. 1 (March 2018): 105–119.