| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w13614 |
| 来源ID | Working Paper 13614 |
| Revisiting the Income Effect: Gasoline Prices and Grocery Purchases | |
| Dora Gicheva; Justine Hastings; Sofia Villas-Boas | |
| 发表日期 | 2007-11-26 |
| 出版年 | 2007 |
| 语种 | 英语 |
| 摘要 | This paper examines the importance of income effects in purchase decisions for every-day products by analyzing the effect of gasoline prices on grocery expenditures. Using detailed scanner data from a large grocery chain as well as data from the Consumer Expenditure Survey (CES), we show that consumers re-allocate their expenditures across and within food-consumption categories in order to offset necessary increases in gasoline expenditures when gasoline prices rise. We show that gasoline expenditures rise one-for-one with gasoline prices, consumers substitute away from food-away-from-home and towards groceries in order to partially offset their increased expenditures on gasoline, and that within grocery category, consumers substitute away from regular shelf-price products and towards promotional items in order to save money on overall grocery expenditures. On average, consumers are able to decrease the net price paid per grocery item by 5-11% in response to a 100% increase in gasoline prices. Our results show that consumers respond to permanent changes in income from gasoline prices by substituting towards lower-cost food at the grocery store and lower priced items within grocery category. The substitution away from full-priced items towards sale items has implications for microeconomic discrete-choice demand models as well as for macroeconomic inflation measures that typically do not incorporate frequently changing promotional prices. |
| 主题 | Macroeconomics ; Consumption and Investment ; Business Cycles ; Industrial Organization ; Market Structure and Firm Performance ; Industry Studies |
| URL | https://www.nber.org/papers/w13614 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/571297 |
| 推荐引用方式 GB/T 7714 | Dora Gicheva,Justine Hastings,Sofia Villas-Boas. Revisiting the Income Effect: Gasoline Prices and Grocery Purchases. 2007. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w13614.pdf（204KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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