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Consumption Smoothing and Vulnerability in Russia

Gerry, CJ; Li, C; (2007) Consumption Smoothing and Vulnerability in Russia. (William Davidson Institute Working Paper 885). William Davidson Institute, University of Michigan

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Abstract

Applying bootstrapped quantile regression to the Russian Longitudinal Monitoring Survey (RLMS) data, we examine the channels through which individuals experience and seek to cope with changes in consumption. We find that married individuals living in small households, with educated heads in urban areas are better equipped to smooth consumption. Investigating the impact of idiosyncratic shocks, we find that the labour market is an important transmission mechanism allowing households to smooth their consumption but also exposing them to risk, mainly through job loss. Outside of pension payments the formal social safety net does not facilitate consumption smoothing, thus heightening the importance of informal coping institutions. It transpires that both support from relatives/friends and home production act as important insurance mechanisms for the most vulnerable.

Type: Working / discussion paper
Title: Consumption Smoothing and Vulnerability in Russia
Keywords: vulnerability, consumption smoothing, russia, shocks, Russia, economics, vulnerability, quantile
UCL classification: UCL > Provost and Vice Provost Offices
UCL > Provost and Vice Provost Offices > UCL SLASH
UCL > Provost and Vice Provost Offices > UCL SLASH > SSEES
URI: http://discovery.ucl.ac.uk/id/eprint/44252
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