BEGIN:VCALENDAR
VERSION:2.0
PRODID:-//jEvents 2.0 for Joomla//EN
CALSCALE:GREGORIAN
METHOD:PUBLISH
BEGIN:VEVENT
UID:cc5f89c03d2f2810d76ef0d2bdb8196b
CATEGORIES:Seminars
CREATED:20170418T173434
SUMMARY:Lunch Seminar: Nicholas Trachter - Federal Reserve Bank of Richmond
DESCRIPTION;ENCODING=QUOTED-PRINTABLE:Relative Price Dispersion: Evidence and Theory (joint with G. Kaplan, G. Me
 nzio, and L. Rudanko)\nAbstract:\n We document that a sizeable portion of t
 he cross-sectional variation in the price at which the same good trades in 
 the same period and in the same market is due to the fact that stores that 
 are, on average, equally expensive set persistently different prices for th
 e same good. We refer to this phenomenon as relative price dispersion. We a
 rgue that relative price dispersion stems from sellers’ attempts to discrim
 inate between high-valuation buyers who need to make all of their purchases
  in the same store and low-valuation buyers who are willing to purchase dif
 ferent items from different stores. We calibrate our theory and show that i
 t is not only consistent with the extent and sources of dispersion in the p
 rice that different sellers charge for the same good, but also with the ext
 ent and sources of dispersion in the prices that different households pay f
 or the same basket of goods and with the relationship between prices paid a
 nd the number of stores visited by different households.\n
DTSTAMP:20260407T105619Z
DTSTART:20160614T130000Z
DTEND:20160614T140000Z
SEQUENCE:0
TRANSP:OPAQUE
END:VEVENT
END:VCALENDAR