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The (Retail) Price of Inequality

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Author Info
Frankel, D.M.

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Abstract

A panel study reveals that an increase in pretax income equality leads to sudstantially lower retail prices. Prices also fall if the income tax on high income families is raised. One explanation is that equality makes consumer demand more elastic. This would imply that progressive taxation helps reduce the distortions that come from imperfect competition in retail markets.

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Publisher Info
Paper provided by Tel Aviv in its series Papers with number 23-96.

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Length: 22 pages
Date of creation: 1996
Date of revision:
Handle: RePEc:fth:teavfo:23-96

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Postal: Israel TEL-AVIV UNIVERSITY, THE FOERDER INSTITUTE FOR ECONOMIC RESEARCH, RAMAT AVIV 69 978 TEL AVIV ISRAEL.
Phone: 972-3-640-9255
Fax: 972-3-640-5815
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Web page: http://econ.tau.ac.il/research/foerder.asp
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Related research
Keywords: RETAIL TRADE; PRICES; TAXES; INCOME;

Other versions of this item:

Find related papers by JEL classification:
H71 - Public Economics - - State and Local Government; Intergovernmental Relations - - - State and Local Taxation, Subsidies, and Revenue
H70 - Public Economics - - State and Local Government; Intergovernmental Relations - - - General
D33 - Microeconomics - - Distribution - - - Factor Income Distribution
L81 - Industrial Organization - - Industry Studies: Services - - - Retail and Wholesale Trade; e-Commerce

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

  1. Carlson, John A & Gieseke, Robert J, 1983. " Price Search in a Product Market," Journal of Consumer Research: An Interdisciplinary Quarterly, University of Chicago Press, vol. 9(4), pages 357-65, March.
  2. Galor, Oded & Zeira, Joseph, 1993. "Income Distribution and Macroeconomics," Review of Economic Studies, Blackwell Publishing, vol. 60(1), pages 35-52, January. [Downloadable!] (restricted)
  3. Richard B. Freeman, 1982. "Crime and the Labor Market," NBER Working Papers 1031, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  4. Douglas Staiger & James H. Stock, 1997. "Instrumental Variables Regression with Weak Instruments," Econometrica, Econometric Society, vol. 65(3), pages 557-586, May.
    Other versions:
  5. Alcaly, Roger E & Klevorick, Alvin K, 1971. "Food Prices in Relation to Income Levels in New York City," Journal of Business, University of Chicago Press, vol. 44(4), pages 380-97, October. [Downloadable!] (restricted)
  6. 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. [Downloadable!] (restricted)
  7. Kunreuther, Howard, 1973. "Why the Poor May Pay More for Food: Theoretical and Empirical Evidence," Journal of Business, University of Chicago Press, vol. 46(3), pages 368-83, July. [Downloadable!] (restricted)
  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, vol. 30(3), pages 344-359, November. [Downloadable!] (restricted)
  9. Donaldson, Loraine & Strangways, Raymond S, 1973. "Can Ghetto Groceries Price Competitively and Make a Profit?," Journal of Business, University of Chicago Press, vol. 46(1), pages 61-65, January. [Downloadable!] (restricted)
  10. 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: An Interdisciplinary Quarterly, University of Chicago Press, vol. 5(3), pages 176-86, December.
Full references

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Michael Noel & Emek Basker, 2007. "The Evolving Food Chain: Competitive Effects of Wal-Mart's Entry Into The Supermarket Industry," University of California at San Diego, Economics Working Paper Series 2007-03, Department of Economics, UC San Diego. [Downloadable!]
    Other versions:
  2. Emek Basker, 2004. "Selling a Cheaper Mousetrap: Wal-Marts Effect on Retail Prices," Working Papers 0401, Department of Economics, University of Missouri, revised 16 Mar 2004. [Downloadable!]
    Other versions:
  3. Stewart, Hayden & Davis, David E., 2005. "Price Dispersion and Accessibility: A Case study of Fast Food," MPRA Paper 7970, University Library of Munich, Germany. [Downloadable!]
    Other versions:
  4. Gould, Eric D & Paserman, Marco Daniele, 2002. "Waiting for Mr Right: Rising Inequality and Declining Marriage Rates," CEPR Discussion Papers 3388, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
    Other versions:
  5. Ting Zhu & Vishal Singh & Anthony J. Dukes, 2005. "Local Competition and Impact of Entry by a Dominant Retailer," CIE Discussion Papers 2005-05, University of Copenhagen. Department of Economics. Centre for Industrial Economics. [Downloadable!]
  6. Wendt, Minh & Kinsey, Jean & Kaufman, Phillip, 2008. "Food Accessibility in the Inner City: What Have We Learned, A Literature Review 1963-2006," Working Papers 37625, University of Minnesota, The Food Industry Center. [Downloadable!]
  7. Stewart, Hayden & Blisard, Noel, 2006. "Household versus Community Effects: Who Really Pays More for Food?," 2006 Annual meeting, July 23-26, Long Beach, CA 21053, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association). [Downloadable!]
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