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Using the Retail Distribution of Sellers to Impute Expenditure Shares

Author

Listed:
  • Alexis Antoniades
  • Robert C. Feenstra
  • Mingzhi (Jimmy) Xu

Abstract

Many price indices must be constructed without quantity data at the elementary level. The paper shows that for some consumer goods in the United States and other countries, one can approximate expenditure shares using weights derived from the retail distribution of sellers. These weights are based on the share of outlets selling an item, or the share of outlets adjusted by the total number of items sold in each. Relative to using no weights, the paper finds that using such imputed weights substantially reduces bias in the frequency of price changes, in annual inflation, and in price comparisons across countries.

Suggested Citation

  • Alexis Antoniades & Robert C. Feenstra & Mingzhi (Jimmy) Xu, 2022. "Using the Retail Distribution of Sellers to Impute Expenditure Shares," American Economic Review, American Economic Association, vol. 112(7), pages 2213-2236, July.
    • Handle: RePEc:aea:aecrev:v:112:y:2022:i:7:p:2213-36
    DOI: 10.1257/aer.20190896
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    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms
    • L81 - Industrial Organization - - Industry Studies: Services - - - Retail and Wholesale Trade; e-Commerce
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O14 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology

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