Revisiting Consumption Smoothing and the 1998 Russian Crisis

Christopher Gerry and Carmen Li

No 43, UCL SSEES Economics and Business working paper series from UCL School of Slavonic and East European Studies (SSEES)

Abstract: Applying quantile regression techniques to Russian data we investigate the channels through which individuals experience changes in their well being. We find that married individuals in non-rural households with university-educated heads are less vulnerable to severe welfare shocks. For the most vulnerable individuals the labour market plays a key role in transmitting the effects of aggregate shocks through the unemployment channel whereas those individuals able to maintain their employment status are more able to cope with economic shocks. While increases in pension payments help individuals to cope with shocks, it transpires that vulnerable individuals rely more broadly on the support of relatives and the produce of their garden plots and dachas.

JEL-codes: I31 P20 (search for similar items in EconPapers)
Pages: 37 pages
Date: 2004-11
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (9)

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Persistent link: https://EconPapers.repec.org/RePEc:see:wpaper:43

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