Income Shocks, Consumption, Wealth, and Human Capital
Evidence from Russia
Bibliographic Data
| ID | 4361842 |
|---|---|
| Authors | Ren Mu (0000-0002-8342-5404), Mu Ren (0000-0001-8238-3364, corresponding author) |
| Year | 2006 |
| Volume | 54 |
| Issue | 4 |
| Pages | 857-892 |
| Publication date | 2006-07-01 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | Economic Development and Cultural Change (JOURNAL) |
| Journal identifiers | ISSN: 0013-0079 • E-ISSN: 1539-2988 |
| Publisher | University of Chicago Press (PUBLISHER • US) |
| DOI | 10.1086/503581 |
| OpenAlex | W1997529613 |
| Language | EN |
| Citations received | 4 |
| References cited | 29 |
Using the Russia Longitudinal Monitoring Survey, this article investigates how Russian households’ consumption responds to income shocks and, in particular, how household wealth and human capital affect the households’ ability to smooth consumption. An instrumental variable estimation method with household fixed effects is implemented. After correcting for potential problems of sample attrition using the inverse probability weighting method, the article finds that household consumption in Russia is only partially protected from idiosyncratic shocks. The analysis also provides evidence that wealthier households can better smooth their consumption. Furthermore, changes in income have less impact on consumption when households have members with higher education levels. Wealth effects are more pronounced in rural areas, while education effects are stronger for urban households
Affect (linguistics) · Autonomous consumption · Consumption (sociology) · Demographic economics · Econometrics · Economic growth · Economics · Estimation · Geography · Household income · Human capital · Instrumental variable · Inverse probability weighting · Labour economics · Macroeconomics · Propensity score matching · Sample (material) · Agricultural risk and resilience · Financial Literacy, Pension, Retirement Analysis · Income, Poverty, and Inequality
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Consumption Insurance
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| Unique citing works | 4 |
|---|---|
| Citations per year | 0.22 |
| Citation span | 2008 - 2026 (19) |
| Citation velocity | current |
| Highly cited | No |
| Citation types | Neutral: 3 |