IS THE COST OF LIVING IN RUSSIA REALLY THAT LOW?

Konstantin Gluschenko

No wp949, William Davidson Institute Working Papers Series from William Davidson Institute at the University of Michigan

Abstract: There is a widespread opinion that goods, especially foods, and services in Russia are very cheap as compared to the US. A number of Russian statistical indicators characterizing the cost of living, either directly or indirectly, seemingly corroborate this opinion. This paper demonstrates that these indicators are biased, sufficiently understating the cost of living in Russia. A comparison of Russian actual prices for foods with those in the US evidences that they are comparable. Moreover, the Russian prices are tending to catch up with the US prices.

Keywords: food prices; cost of living; minimum wage; subsistence level; Russia; US. (search for similar items in EconPapers)
JEL-codes: I31 O57 P22 (search for similar items in EconPapers)
Pages: pages
Date: 2008-12-01
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Related works:
Working Paper: Is the cost of living in Russia really that low? (2008)
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