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The (Retail) Price of Inequality

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  • Frankel, D.M.

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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Bibliographic 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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Keywords: RETAIL TRADE; PRICES; TAXES; INCOME;

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References

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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, vol. 46(3), pages 368-83, July.
  2. Richard B. Freeman, 1982. "Crime and the Labor Market," NBER Working Papers 1031, National Bureau of Economic Research, Inc.
  3. 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.
  4. Galor, Oded & Zeira, Joseph, 1993. "Income Distribution and Macroeconomics," Review of Economic Studies, Wiley Blackwell, vol. 60(1), pages 35-52, January.
  5. Carlson, John A & Gieseke, Robert J, 1983. " Price Search in a Product Market," Journal of Consumer Research, University of Chicago Press, vol. 9(4), pages 357-65, March.
  6. Daniel Feenberg & Elisabeth Coutts, 1993. "An introduction to the TAXSIM model," Journal of Policy Analysis and Management, John Wiley & Sons, Ltd., vol. 12(1), pages 189-194.
  7. Joseph Altonji & David Card, 1989. "The Effects of Immigration on the Labor Market Outcome of Less-Skilled Natives," Working Papers 636, Princeton University, Department of Economics, Industrial Relations Section..
  8. 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, vol. 44(4), pages 380-97, October.
  9. John M. Abowd & Richard B. Freeman, 1991. "Immigration, Trade and the Labor Market," NBER Books, National Bureau of Economic Research, Inc, number abow91-1.
  10. Donaldson, Loraine & Strangways, Raymond S, 1973. "Can Ghetto Groceries Price Competitively and Make a Profit?," The Journal of Business, University of Chicago Press, vol. 46(1), pages 61-65, January.
  11. Douglas Staiger & James H. Stock, 1994. "Instrumental Variables Regression with Weak Instruments," NBER Technical Working Papers 0151, National Bureau of Economic Research, Inc.
  12. 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.
  13. 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, vol. 5(3), pages 176-86, December.
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Citations

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Cited by:
  1. Gibson, John & Kim, Bonggeun, 2013. "Do the urban poor face higher food prices? Evidence from Vietnam," Food Policy, Elsevier, vol. 41(C), pages 193-203.
  2. Basker, Emek, 2005. "Selling a cheaper mousetrap: Wal-Mart's effect on retail prices," Journal of Urban Economics, Elsevier, vol. 58(2), pages 203-229, September.
  3. Noel, Michael & Basker, Emek, 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 qt4nq8d4sm, Department of Economics, UC San Diego.
  4. 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 37625, University of Minnesota, The Food Industry Center.
  5. Schuetz, Jenny & Kolko, Jed & Meltzer, Rachel, 2012. "Are poor neighborhoods “retail deserts”?," Regional Science and Urban Economics, Elsevier, vol. 42(1-2), pages 269-285.
  6. Bellou, Andriana, 2013. "Male Wage Inequality and Marital Dissolution: Is There a Link?," IZA Discussion Papers 7331, Institute for the Study of Labor (IZA).
  7. Somekh, Babak, 2012. "The Effect Of Income Inequality On Price Dispersion," Working Papers WP2012/2, University of Haifa, Department of Economics, revised 19 Feb 2012.
  8. Emek Basker, 2013. "Change at the Checkout: Tracing the Impact of a Process Innovation," Working Papers 1302, Department of Economics, University of Missouri.
  9. 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).
  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, vol. 36(2), pages 128-135, April.
  11. Gould, Eric D. & Paserman, M. Daniele, 2003. "Waiting for Mr. Right: rising inequality and declining marriage rates," Journal of Urban Economics, Elsevier, vol. 53(2), pages 257-281, March.
  12. Stewart, Hayden & Davis, David E., 2005. "Price Dispersion and Accessibility: A Case study of Fast Food," MPRA Paper 7970, University Library of Munich, Germany.
  13. Lakner, Christoph & Milanovic, Branko, 2013. "Global income distribution : from the fall of the Berlin Wall to the great recession," Policy Research Working Paper Series 6719, The World Bank.

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