Targeted Price Controls on Supermarket Products
研究阿根廷超市产品定向价格管制的影响,发现其对通胀只有短暂小幅效果,且企业会推出高价新品,总体效果与传统价格管制一样无效。
We study the impact of targeted price controls on supermarket products in Argentina. Using daily prices for controlled and noncontrolled goods, we examine the effects on inflation, product availability, entry and exit, and price dispersion. First, price controls have only a small and temporary effect on inflation that reverses soon after the controls are lifted. Second, contrary to common belief, controlled goods are consistently available for sale. Third, firms respond by introducing new varieties at higher prices. Overall, our results show that targeted price controls are just as ineffective as more traditional policies of price controls in reducing aggregate inflation.