The Cyclicality of Sales, Regular and Effective Prices: Business Cycle and Policy Implications: Reply
回应了不同删截阈值和插补方法对Coibion等人（2015）基线结果的影响，发现高删截阈值会引入测量误差和异常值，但控制异常值的方法仍支持原结论；同时指出BLS插补缺失价格的方法在存在商店转换时会导致价格通胀的周期性偏差。
We address how using different censoring thresholds and imputation procedures affects the baseline results of Coibion, Gorodnichenko, and Hong (2015). Higher censoring thresholds introduce measure ment error and outliers that generate wide variability in results across weighting schemes, but methods that explicitly control for outliers confirm the results of Coibion, Gorodnichenko, and Hong (2015) for all censoring thresholds. We also illustrate how the BLS’s approach to imputing missing prices can introduce a cyclical bias into measures of posted price inflation when store-switching is present in the data.