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The Cyclicality of Sales, Regular, and Effective Prices: Business Cycle and Policy Implications: Comment

By Etienne Gagnon, David López-Salido, and Jason Sockin

American Economic Review, October 2017

Coibion, Gorodnichenko, and Hong (2015) argue that the CPI underestimates the deceleration in consumer prices during economic downturns because the index fails to account for the reallocation of consumer spending from high-price to low-price stores. We sh...

The Cyclicality of Sales, Regular and Effective Prices: Business Cycle and Policy Implications: Reply

By Olivier Coibion, Yuriy Gorodnichenko, and Gee Hee Hong

American Economic Review, January 2019

We address how using different censoring thresholds and imputation procedures affects the baseline results of Coibion, Gorodnichenko, and Hong (2015). Higher censoring thresholds introduce measurement error and outliers that generate wide variability in r...

The Impact of Criminal Financial Sanctions: A Multi-State Analysis of Survey and Administrative Data

By Keith Finlay, Matthew Gross, Carl Lieberman, Elizabeth Luh, and Michael Mueller-Smith

American Economic Review: Insights

We estimate the impact of financial sanctions in the U.S. criminal justice system leveraging nine natural experiments in a regression discontinuity design framework across a diverse range of enforcement levels ($17–$6,000) and institutional environmen...