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The Retail Price of Inequality

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  • Frankel, David M.
  • Gould, Eric D.

Abstract

This paper studies the relation between a city's income distribution and its retail price level using panel data. We find that an increase in the presence of lower middle income households, relative to poor or upper income households, is associated with lower prices. Our findings suggest that greater income inequality raises the prices that poor households face, thus making it harder for them to invest in human capital.

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Bibliographic Info

Article provided by Elsevier in its journal Journal of Urban Economics.

Volume (Year): 49 (2001)
Issue (Month): 2 (March)
Pages: 219-239

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Handle: RePEc:eee:juecon:v:49:y:2001:i:2:p:219-239

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Web page: http://www.elsevier.com/locate/inca/622905

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  1. Kunreuther, Howard, 1973. "Why the Poor May Pay More for Food: Theoretical and Empirical Evidence," The Journal of Business, University of Chicago Press, University of Chicago Press, vol. 46(3), pages 368-83, July.
  2. Carlson, John A & Gieseke, Robert J, 1983. " Price Search in a Product Market," Journal of Consumer Research, University of Chicago Press, University of Chicago Press, vol. 9(4), pages 357-65, March.
  3. Daniel Feenberg & Elisabeth Coutts, 1993. "An introduction to the TAXSIM model," Journal of Policy Analysis and Management, John Wiley & Sons, Ltd., John Wiley & Sons, Ltd., vol. 12(1), pages 189-194.
  4. Alcaly, Roger E & Klevorick, Alvin K, 1971. "Food Prices in Relation to Income Levels in New York City," The Journal of Business, University of Chicago Press, University of Chicago Press, vol. 44(4), pages 380-97, October.
  5. Joseph G. Altonji & David Card, 1989. "The Effects of Immigration on the Labor Market Outcomes of Natives," NBER Working Papers 3123, National Bureau of Economic Research, Inc.
  6. John M. Abowd & Richard B. Freeman, 1991. "Immigration, Trade and the Labor Market," NBER Books, National Bureau of Economic Research, Inc, National Bureau of Economic Research, Inc, number abow91-1.
  7. Oded Galor & Joseph Zeira, 2013. "Income Distribution and Macroeconomics," Working Papers, Brown University, Department of Economics 2013-12, Brown University, Department of Economics.
  8. MacDonald, James M. & Nelson, Paul Jr., 1991. "Do the poor still pay more? Food price variations in large metropolitan areas," Journal of Urban Economics, Elsevier, Elsevier, vol. 30(3), pages 344-359, November.
  9. Douglas Staiger & James H. Stock, 1997. "Instrumental Variables Regression with Weak Instruments," Econometrica, Econometric Society, Econometric Society, vol. 65(3), pages 557-586, May.
  10. Richard B. Freeman, 1982. "Crime and the Labor Market," NBER Working Papers 1031, National Bureau of Economic Research, Inc.
  11. Goldman, Arieh & Johansson, J K, 1978. " Determinants of Search for Lower Prices: An Empirical Assessment of the Economics of Information Theory," Journal of Consumer Research, University of Chicago Press, University of Chicago Press, vol. 5(3), pages 176-86, December.
  12. Joseph G. Altonji & David Card, 1991. "The Effects of Immigration on the Labor Market Outcomes of Less-skilled Natives," NBER Chapters, National Bureau of Economic Research, Inc, in: Immigration, Trade and the Labor Market, pages 201-234 National Bureau of Economic Research, Inc.
  13. Donaldson, Loraine & Strangways, Raymond S, 1973. "Can Ghetto Groceries Price Competitively and Make a Profit?," The Journal of Business, University of Chicago Press, University of Chicago Press, vol. 46(1), pages 61-65, January.
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Cited by:
  1. Emek Basker & Michael Noel, 2007. "The Evolving Food Chain: Competitive Effects of Wal-Marts Entry into the Supermarket Industry," Working Papers, Department of Economics, University of Missouri 0712, Department of Economics, University of Missouri.
  2. Stewart, Hayden & Blisard, Noel, 2006. "Household versus Community Effects: Who Really Pays More for Food?," 2006 Annual meeting, July 23-26, Long Beach, CA, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association) 21053, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  3. Schuetz, Jenny & Kolko, Jed & Meltzer, Rachel, 2012. "Are poor neighborhoods “retail deserts”?," Regional Science and Urban Economics, Elsevier, Elsevier, vol. 42(1-2), pages 269-285.
  4. Gould, Eric D & Paserman, Marco Daniele, 2002. "Waiting for Mr Right: Rising Inequality and Declining Marriage Rates," CEPR Discussion Papers, C.E.P.R. Discussion Papers 3388, C.E.P.R. Discussion Papers.
  5. Emek Basker, 2013. "Change at the Checkout: Tracing the Impact of a Process Innovation," Working Papers, Department of Economics, University of Missouri 1302, Department of Economics, University of Missouri.
  6. Gibson, John & Kim, Bonggeun, 2013. "Do the urban poor face higher food prices? Evidence from Vietnam," Food Policy, Elsevier, Elsevier, vol. 41(C), pages 193-203.
  7. Hayden Stewart & David E. Davis, 2005. "Price Dispersion and Accessibility: A Case Study of Fast Food," Southern Economic Journal, Southern Economic Association, Southern Economic Association, vol. 71(4), pages 784-799, April.
  8. Basker, Emek, 2005. "Selling a cheaper mousetrap: Wal-Mart's effect on retail prices," Journal of Urban Economics, Elsevier, Elsevier, vol. 58(2), pages 203-229, September.
  9. Somekh, Babak, 2012. "The Effect Of Income Inequality On Price Dispersion," Working Papers, University of Haifa, Department of Economics WP2012/2, University of Haifa, Department of Economics, revised 19 Feb 2012.
  10. Stewart, Hayden & Dong, Diansheng, 2011. "Variation in retail costs for fresh vegetables and salty snacks across communities in the United States," Food Policy, Elsevier, Elsevier, vol. 36(2), pages 128-135, April.
  11. Bellou, Andriana, 2013. "Male Wage Inequality and Marital Dissolution: Is There a Link?," IZA Discussion Papers 7331, Institute for the Study of Labor (IZA).
  12. Lakner, Christoph & Milanovic, Branko, 2013. "Global income distribution : from the fall of the Berlin Wall to the great recession," Policy Research Working Paper Series, The World Bank 6719, The World Bank.
  13. Wendt, Minh & Kinsey, Jean D. & Kaufman, Phillip R., 2008. "Food Accessibility in the Inner City: What Have We Learned, A Literature Review 1963-2006," Working Papers, University of Minnesota, The Food Industry Center 37625, University of Minnesota, The Food Industry Center.

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