Consumption smoothing in Russia

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dc.contributor.authorNotten, Geranda
dc.contributor.authorde Crombrugghe, Denis
dc.date.accessioned2015-06-24T15:05:56Z
dc.date.available2015-06-24T15:05:56Z
dc.date.created2012
dc.date.issued2012
dc.identifier.citationNotten, G. and D. de Crombrugghe (2012), “Consumption smoothing in Russia”, Economics of Transition, 20(3), 481-519.
dc.identifier.urihttp://hdl.handle.net/10393/32481
dc.identifier.urihttps://gerandanotten.files.wordpress.com/2014/11/nottendecrom_eot201202b_d.pdf
dc.description.abstractUsing a panel from the Russian Longitudinal Monitoring Survey (1994-2004), this paper investigates to what extent Russian households have been able to maintain their living standards while suffering income shocks. Consumption smoothing is modelled by means of an equilibrium correction mechanism, which disentangles short-run dynamics and long-run equilibrium adjust- ments. GMM estimation is used to control for individual household effects in the presence of dynamics. Additionally, we differentiate between food and non-food consumption, positive and negative shocks, rural and urban areas, and several levels of poverty risk. We find that dynamics are important in the consumption equation, and that estimates are sensitive to imputation errors in home food production. No strong claims can be made regarding heterogeneity in smoothing behaviour.
dc.language.isoen
dc.subjectconsumption smoothing
dc.subjectequilibrium correction model (ECM)
dc.subjectRLMS
dc.subjectdynamic panel
dc.titleConsumption smoothing in Russia
dc.typeArticle
dc.identifier.doi10.1111/j.1468-0351.2012.00441.x
CollectionAffaires publiques et internationales - Publications // Public and International Affairs - Publications

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