Current incomes and financial behavior of households: Who loses more in a crisis?

Ludmila Nivorozhkina ()
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Ludmila Nivorozhkina: Rostov State University of Economics (RSUE), Rostov-on-Don, Russian Federation

Applied Econometrics, 2017, vol. 48, 85-96

Abstract: The article suggests an original approach to assessing changes in living standard during the economic crisis, implemented by the triangular recursive system of equation using a multivariate probit model, dealing with unobservable individual heterogeneity, the bias due to omitted variables and endogeneity. The outcomes of the system equations are binary variables capturing changes in the position of the household in the income distribution, subjective estimates of such changes and financial behavior.

Keywords: crisis; household financial behavior; multivariate probit model; the triangular recursive system of equations; endogeneity (search for similar items in EconPapers)
JEL-codes: D22 G32 (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:ris:apltrx:0332

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