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Home
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Working Papers
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Income and Competition Effects on the World Market for French Wines

Working Paper No. 157

Published: 2014
Category:
Economics

Income and Competition Effects on the World Market for French Wines

Fabien Candau & Florent Deisting
Full Text PDF
Abstract

The price of wine grew at a fast rate between 2001 and 2010 and has since been stagnating. The period of growth may be explained by the rise in the demand from emerging markets and from richest people (the top 1% and 10%), while the stagnation may come from the entry of new varieties causing a crowding/competition e ect on the market. We estimate the gen- eralized model of ideal variety proposed by Hummels and Lugovskyy (2009) that combines these two elements and nd support for this explanation. A 1% increases in GDP per-capita (income e ect) generated an increase in price of 1.13% between 2001 and 2011. In contrast a 1% increase in market size (competition e ect) reduced price by 1.10% over the same period. This paper also analyses these e ects by considering exports of wine according to mode of transport and indirectly evaluates economies of scale in transport of wine exported by plane, boat and road.

Submission

Please send your papers as PDF files to the editor, Victor Ginsburgh, at vginsbur@ulb.ac.be
Papers will be quickly reviewed, prior to potential posting on the website. Decision will be to post or not, possibly with short comments, but without referee reports. The decision will be based primarily on the suitability of the paper’s topic to the aims of the Association.
Such decisions are independent of publication decisions for the Journal of Wine Economics.

Working Paper publication requires that at least one author
is a regular member of AAWE.

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