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Title:Inequality and volatility moderation in Russia: evidence from micro-level panel data on consumption and income PDF Logo
Authors:Gorodnichenko, Yuriy
Peter, Klara Sabirianova
Stolyarov, Dmitriy
Issue Date:2009
Series/Report no.:IZA discussion papers 4233
Abstract:We construct key household and individual economic variables using a panel micro data set from the Russia Longitudinal Monitoring Survey (RLMS) for 1994-2005. We analyze cross-sectional income and consumption inequality and find that inequality decreased during the 2000-2005 economic recovery. The decrease appears to be driven by falling volatility of transitory income shocks. The response of consumption to permanent and transitory income shocks becomes weaker later in the sample, consistent with greater self-insurance against permanent shocks and greater smoothing of transitory shocks. Comparisons of RLMS data with official macroeconomic statistics reveal that national accounts may underestimate the extent of unofficial economic activity, and that the official consumer price index may overstate inflation and be prone to quality bias.
Subjects:Inequality
income
consumption
transition
Russia
JEL:E20
J30
I30
O15
P20
Persistent Identifier of the first edition:urn:nbn:de:101:1-20090622155
Document Type:Working Paper
Appears in Collections:IZA Discussion Papers, Forschungsinstitut zur Zukunft der Arbeit (IZA)

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