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The Retail Price of Inequality

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Author Info
Frankel, David M.
Gould, Eric

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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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Publisher Info
Paper provided by Iowa State University, Department of Economics in its series Staff General Research Papers with number 11922.

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Date of creation: 05 May 2004
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Publication status: Published in Journal of Urban Economics, 2001, No. 49, pp. 219-239.
Handle: RePEc:isu:genres:11922

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Postal: Iowa State University, Dept. of Economics, 260 Heady Hall, Ames, IA 50011-1070
Phone: +1 515.294.6741
Fax: +1 515.294.0221
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Web page: http://www.econ.iastate.edu
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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.
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  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.
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(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. 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!]
  3. 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:
  4. 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!]
  5. 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:
  6. 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:
  7. 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!]
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