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Income Inequality and Status Symbols: The Case of Fine Wine Imports

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  • Niklas, Britta
  • Sadik-Zada, Elkhan Richard

Abstract

This survey investigates the inequality-fine wine imports nexus. To this end, the study employs cointegration techniques to analyze two panel datasets, one of which will analyze data from 12 countries between 1871 and 2018, and another that analyzes data from 66 countries between 1995 and 2017. Estimations indicate that income inequality leads to more fine wine imports in the long run. Changes in income have only a short-term effect on fine wine imports. Nonlinear autoregressive distributed lag (NARDL) estimators reveal an asymmetric long-run relationship between income inequality and fine wine imports in the cases of Argentina and the United States. (JEL Classifications: C19, D01, D12, D31, L66)

Suggested Citation

  • Niklas, Britta & Sadik-Zada, Elkhan Richard, 2019. "Income Inequality and Status Symbols: The Case of Fine Wine Imports," Journal of Wine Economics, Cambridge University Press, vol. 14(4), pages 365-373, November.
    • Handle: RePEc:cup:jwecon:v:14:y:2019:i:4:p:365-373_3
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    Cited by:

    1. Eduardo Polloni-Silva & Diogo Ferraz & Flávia de Castro Camioto & Daisy Aparecida do Nascimento Rebelatto & Herick Fernando Moralles, 2021. "Environmental Kuznets Curve and the Pollution-Halo/Haven Hypotheses: An Investigation in Brazilian Municipalities," Sustainability, MDPI, vol. 13(8), pages 1-19, April.
    2. Hai Tao & Hailin Mu & Nan Li & Peng Wang, 2023. "Alternative Energy and CO 2 Emission in China: Evidence from Bounds Testing and Vector Error Correction Model Approach," Energies, MDPI, vol. 16(8), pages 1-19, April.
    3. Asongu, Simplice & Odhiambo, Nicholas, 2020. "The role of governance in quality education in sub-Saharan Africa," MPRA Paper 107497, University Library of Munich, Germany.
    4. Koketso Phale & Fanglin Li & Isaac Adjei Mensah & Akoto Yaw Omari-Sasu & Mohammed Musah, 2021. "Knowledge-Based Economy Capacity Building for Developing Countries: A Panel Analysis in Southern African Development Community," Sustainability, MDPI, vol. 13(5), pages 1-28, March.
    5. Naoufel Mahfoudh & Imen Gmach, 2021. "The Effects of Fiscal Effort in Tunisia: An Evidence from the ARDL Bound Testing Approach," Economies, MDPI, vol. 9(4), pages 1-20, December.
    6. Maria Alebaki & Maria Psimouli & Stella Kladou & Foivos Anastasiadis, 2022. "Digital Winescape and Online Wine Tourism: Comparative Insights from Crete and Santorini," Sustainability, MDPI, vol. 14(14), pages 1-16, July.
    7. Chong Peng & Jingjing Zhang & Zhenyu Xu, 2022. "Does Price Distortion Affect Energy Efficiency? Evidence from Dynamic Spatial Analytics of China," Energies, MDPI, vol. 15(24), pages 1-15, December.
    8. Qingwen Li & Guangxi Yan & Chengming Yu, 2022. "A Novel Multi-Factor Three-Step Feature Selection and Deep Learning Framework for Regional GDP Prediction: Evidence from China," Sustainability, MDPI, vol. 14(8), pages 1-21, April.
    9. Mercedes Raquel García Revilla & Olga Martínez Moure, 2021. "Wine as a Tourist Resource: New Manifestations and Consequences of a Quality Product from the Perspective of Sustainability. Case Analysis of the Province of Málaga," Sustainability, MDPI, vol. 13(23), pages 1-13, November.
    10. Die Li & Sumin Hu, 2021. "How Does Technological Innovation Mediate the Relationship between Environmental Regulation and High-Quality Economic Development? Empirical Evidence from China," Sustainability, MDPI, vol. 13(4), pages 1-20, February.

    More about this item

    JEL classification:

    • C19 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Other
    • D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles
    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • L66 - Industrial Organization - - Industry Studies: Manufacturing - - - Food; Beverages; Cosmetics; Tobacco

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