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Revisiting Consumption Smoothing and the 1998 Russian Crisis

Gerry, Christopher and Li, Carmen A (2004) Revisiting Consumption Smoothing and the 1998 Russian Crisis. Technical Report. University College London, Centre for the Study of Economic and Social Change in Europe.

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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.

Item Type: Monograph (Technical Report)
Subjects: H Social Sciences > HB Economic Theory
Divisions: Faculty of Social Sciences > Economics, Department of
Depositing User: Jim Jamieson
Date Deposited: 09 Aug 2012 09:17
Last Modified: 09 Aug 2012 09:17

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