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Alberto Cavallo Profile

Alberto Cavallo is the Edgerley Family Associate Professor at Harvard Business School, where he teaches in the Business, Government, and the International Economy unit. He is an NBER faculty research fellow affiliated with the International Finance and Macroeconomics Program, and a member of the Technical Advisory Committee of the US Bureau of Labor Statistics.

Cavallo’s research focuses on the behavior of prices and its implications for macroeconomic measurement, models, and policies. He started using online data to measure inflation and conduct research on high-frequency pricing dynamics during his PhD studies at Harvard. He created Inflación Verdadera in 2007 to measure the real inflation rate in Argentina, and cofounded The Billion Prices Project in 2008 to expand the measurement of online inflation globally. In 2011, he cofounded PriceStats, a private source of inflation and purchasing power parity statistics in over 20 countries.

Cavallo grew up in Argentina. He received a BS from the Universidad de San Andrés in Buenos Aires in 2000, an MBA from the MIT Sloan School of Management in 2005, and a PhD in economics from Harvard University in 2010. He lives in Cambridge with his wife and two sons.


1. Measuring Real Consumption and CPI Bias under Lockdown Conditions,” Diewert WE, Fox K. NBER Working Paper 27144, May 2020.   Go to ⤴︎
2. The Economic Impacts of COVID-19: Evidence from a New Public Database Built Using Private Sector Data,” Chetty R, Friedman J, Hendren N, Stepner M, Opportunity Insights Team. NBER Working Paper 27431, June 2020.   Go to ⤴︎
3. Inflation with COVID Consumption Baskets,” Cavallo A. NBER Working Paper 27352, June 2020.   Go to ⤴︎
4. Pandemic Prices: Assessing Inflation in the Months and Years Ahead,” Bernstein J, Tedeschi E. Council of Economic Advisers, April 12, 2021.   Go to ⤴︎
5. What Can Stockouts Tell Us about Inflation? Evidence from Online Micro Data,” Cavallo A, Kryvtsov O. NBER Working Paper 29209, September 2021.   Go to ⤴︎
6. Are Online and Offline Prices Similar? Evidence from Large Multi-Channel Retailers,” Cavallo A. NBER Working Paper 22142, April 2016, and American Economic Review 107(1), January 2017, pp. 283–303.   Go to ⤴︎
7. Tariff Pass-Through at the Border and at the Store: Evidence from US Trade Policy,” Cavallo A, Gopinath G, Neiman B, Tang J. NBER Working Paper 26396, October 2019, and American Economic Review: Insights 3(1), March 2021, pp. 19–34.   Go to ⤴︎
8. More Amazon Effects: Online Competition and Pricing Behaviors,” Cavallo A. NBER Working Paper 25138, October 2018, and presented at Changing Market Structures and Implications for Monetary Policy, Jackson Hole Economic Policy Symposium, Jackson Hole, Wyoming, August 23–25, 2018.   Go to ⤴︎
9. Online and Official Price Indexes: Measuring Argentina’s Inflation,” Cavallo A. Journal of Monetary Economics 60(2), March 2013, pp. 152–165.   Go to ⤴︎
10. COVID Inflation: Evidence from Real-Time Data,” Cavallo A. Princeton University Bendheim Center for Finance, Markus Academy Series, June 17, 2021.     Go to ⤴︎
11. Effects of COVID-19 Pandemic and Response on the Consumer Price Index,” US Bureau of Labor Statistics, accessed September 1, 2021. Go to ⤴︎

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