Inequality, neighborhoods and variation in prices
In this study we examine the link between of income distribution and wholesale price of wheat using panel data. We have weekly time series data on prices for wheat for 3 districts in Uttar-Pradesh in India obtained from the Department of Economics and Statistics of the Ministry of Agriculture, Government of India (DES-MOA, GOI) for the period 2006-2011. Gini coefficient is calculated on the basis of consumption expenditure collected by National Sample Survey Organisation of India. We find that there is inverted-U shape relation between inequality and level of price for wheat: if we compare a cross-section of societies over the period of time, then price of food grain initially increases with increase in inequality but after a point it starts declining.
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- Durgesh Chandra Pathak, 2010.
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- Ankita Mishra & Ranjan Ray, 2011. "Prices, Inequality, And Poverty: Methodology And Indian Evidence," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 57(3), pages 428-448, 09.
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- Manisha Chakrabarty & Amita Majumder & Ranjan Ray, 2012. "Preferences, Spatial Prices and Inequality," Monash Economics Working Papers 52-12, Monash University, Department of Economics.
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