Lost in Transit: Product Replacement Bias and Pricing to Market
---- Acknowledgements ----
We thank Ryan Chahrour, Vickram Mohan, Dmitriy Sergeyev and especially Patrick Sun for excellent research assistance. We thank Ariel Pakes and John Rogers for inspiring conversations that encouraged us to work on this problem. Our thinking about the ideas and empirical results presented in this paper has benefited greatly from conversations with among others Bill Alterman, Mark Bils, Ariel Burstein, Menzie Chinn, Charles Engel, Tim Erickson, Doireann Fitzgerald, Penny Goldberg, Gita Gopinath, John Greenlees, Oleg Itskhoki, Patrick Kehoe, Timothy Kehoe, Narayana Kocherlakota, Greg Kurtzon, Rob McClelland, Alice Nakamura, Marshall Reinsdorf, Rozi Ulics, Robert Vigfusson and seminar participants at various institutions. This research has been supported by the National Science Foundation grant SES 0922011. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.