The behavior of temporary sales in a macroeconomic context
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2009-10-21
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Bonomo, Marco Antônio Cesar
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We investigate temporary sales using a very detailed data set for 13 years of retail prices in the Brazilian economy, with price quotes collected every 10-days. We find strong evidence of co-movement between frequency and size of sales and the macroeconomic varibles. The common belief in the literature that sales do not react to changes in macroeconomic variables may be due to little macro volatility in the analysed countries so far.