UCL SCHOOL OF SLAVONIC AND EAST EUROPEAN STUDIES DEPARTMENT OF SOCIAL SCIENCES CENTRE FOR THE STUDY OF ECONOMIC & SOCIAL CHANGE IN EUROPE (CSESCE) Revisiting Consumption Smoothing and the 1998 Russian Crisis
نویسندگان
چکیده
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. * We are grateful for the helpful comments and suggestions of S Jenkins, T Hatton, A McAuley, J Micklewright and T.Mickiewicz. The usual disclaimer applies.
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CENTRE FOR THE STUDY OF ECONOMIC & SOCIAL CHANGE IN EUROPE SCHOOL OF SLAVONIC & EAST EUROPEAN STUDIES The Estonian Organizations – The Subjects of Transformation
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