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

Niklas B., Sadiq-Zada E. R.

Journal of Wine Economics, vol.14, no.4, pp.365-373, 2019 (SCI-Expanded, SSCI, Scopus) identifier

  • Nəşrin Növü: Article / Article
  • Cild: 14 Say: 4
  • Nəşr tarixi: 2019
  • Doi nömrəsi: 10.1017/jwe.2019.33
  • jurnalın adı: Journal of Wine Economics
  • Jurnalın baxıldığı indekslər: Science Citation Index Expanded (SCI-EXPANDED), Social Sciences Citation Index (SSCI), Scopus
  • Səhifə sayı: pp.365-373
  • Açar sözlər: fine wine imports, income inequality, nonlinear autoregressive distributed lag model, pooled mean group, status symbols
  • Açıq Arxiv Kolleksiyası: Məqalə
  • Adres: Bəli

Qısa məlumat

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).