| 000 -LEADER |
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| fixed length control field |
01241nam a22001577a 4500 |
| 008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION |
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| fixed length control field |
210220b ||||| |||| 00| 0 eng d |
| 100 ## - MAIN ENTRY--PERSONAL NAME |
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| Personal name |
Conlon, Christopher T. and Rao, Nirupama L. |
| 245 ## - TITLE STATEMENT |
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| Title |
Discrete prices and the incidence and efficiency of excise taxes |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. (IMPRINT) |
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| Place of publication, distribution, etc |
American Economic Journal: Economic Policy |
| 300 ## - PHYSICAL DESCRIPTION |
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| Extent |
12(4), Nov, 2020: p.111-143 |
| 520 ## - SUMMARY, ETC. |
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| Summary, etc |
This paper uses UPC-level data to examine the relationship between excise taxes, retail prices, and consumer welfare in the distilled spirits market. We document a nominal rigidity in retail prices that arises because firms largely choose prices that end in 99 cents and change prices in whole-dollar increments. A correctly specified model, like an ordered logit, takes this discreteness into account when predicting the effects of alternative taxes. Explicitly accounting for price points substantially impacts estimates of tax incidence and the excess burden cost of tax revenue. Meaningful nonmonotonicities in these quantities expand the potential considerations in setting excise taxes. – Reproduced
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| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM |
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| Topical term or geographic name as entry element |
Taxation and subsidies |
| 9 (RLIN) |
24265 |
| 773 ## - HOST ITEM ENTRY |
|---|
| Main entry heading |
American Economic Journal: Economic Policy |
| 906 ## - LOCAL DATA ELEMENT F, LDF (RLIN) |
|---|
| Subject DIP |
TAXATION |
| 942 ## - ADDED ENTRY ELEMENTS (KOHA) |
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| Item type |
Articles |
