Macroeconomic Implications of Uniform Pricing
利用阿根廷杂货店价格数据发现统一定价现象，并构建区域模型表明区域冲击的价格弹性仅为总体冲击的一半，提醒用区域冲击估计总体弹性需谨慎。
We compile a new database of grocery prices in Argentina. We find uniform pricing both within and across regions—i.e., prices almost do not vary within the stores of a chain. In line with uniform pricing, prices in stores of chains operating in one region react to changes in regional employment while prices in multiregion chains do not. Using a quantitative regional model with multiregion firms and uniform pricing, we find a one-half smaller elasticity of prices to a regional than an aggregate shock. This result highlights that some caution may be necessary when using regional shocks to estimate aggregate elasticities.