'Twas Four Weeks before Christmas: Retail Sales and the Length of the Christmas Shopping Season
I study the effect of the length of the Christmas "shopping season" in the United States (traditionally, beginning the day after US Thanksgiving) on aggregate retail sales. I find a statistically significant increase in per-capita retail sales in November and December (combined) of approximately $6.50 per additional day over the relevant range. The implications of these finding are briefly discussed. Classification-JEL: L81, D12
|Date of creation:||20 Oct 2004|
|Date of revision:||20 Oct 2004|
|Publication status:||Published in Economic Letters, 89:3 (December 2005), pp. 317-322|
|Contact details of provider:|| Postal: 118 Professional Building, Columbia, MO 65211|
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- Waldfogel, Joel, 1993. "The Deadweight Loss of Christmas," American Economic Review, American Economic Association, vol. 83(5), pages 1328-36, December.
- Joel Waldfogel, 2005. "Does Consumer Irrationality Trump Consumer Sovereignty?," The Review of Economics and Statistics, MIT Press, vol. 87(4), pages 691-696, November.
- Wen, Yi, 2002. "The business cycle effects of Christmas," Journal of Monetary Economics, Elsevier, vol. 49(6), pages 1289-1314, September.
- David Laibson, 2001.
"A Cue-Theory of Consumption,"
The Quarterly Journal of Economics,
Oxford University Press, vol. 116(1), pages 81-119.
- Elizabeth J. Warner & Robert B. Barsky, 1995. "The Timing and Magnitude of Retail Store Markdowns: Evidence from Weekends and Holidays," The Quarterly Journal of Economics, Oxford University Press, vol. 110(2), pages 321-352.
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