Internet Rising, Prices Falling: Measuring Inflation in a World of E-Commerce

Austan D. Goolsbee, Peter J. Klenow

NBER Working Paper No. 24649
Issued in May 2018

---- Acknowledgments ----

Mathias Jimenez and Matteo Leombroni provided superb research assistance; Alberto Cavallo, Charles Hulten, and Leonard Nakamura helpful comments; and Luis Maykot and Siddharth Kulkarni assistance in accessing and understanding the Adobe data. Goolsbee thanks the Initiative on Global Markets at the University of Chicago Booth School of Business for financial support. Klenow is grateful to the Stanford Institute for Economic Policy Research for financial support. This is a more expansive version of an AEA Papers and Proceedings paper. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

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