Households participation strategies in exchanges of private intergenerational transfers
The paper focuses on the issue of price endogeneity and its relation to various micro-economic characteristics of households. The modeling of intergroup dynamics of the price index for food and nutrition among household groups in relation to the amount of expenditure on food per person confirms the relevant hypothesis. This modeling requires the access to the information in the household surveys data, available only in the RLMS. The mechanism of data consolidation of RLMS and Households' budgets survey by Rosstat (VOBDH) is proposed and can also be used for price heterogeneity incurporation.
The article focuses on the impact of financial crisis in Indonesia on the budget for public infrastructure, services, and transfers. The behavior response of the population to the crisis could mean future welfare costs of an economy. With this regard, multiple equilibria in the income or wealth dynamics at the household level has been suggested in such away that hysteresis can stem from a transient income. A counterfactual assessment of the local welfare impacts of the crisis, both in short and long-term is provided.
In this paper we propose and implement a mechanism of modeling the price indices of food purchases by income groups of households. These indices could be interpreted as differentiated by income food inflation. This approach is based on the differences in prices of purchases for the income groups within each year. We provide the calculations of these indices for the RLMS data and Households Budget Survey conducted by Rosstat (HBS). We discuss possible modifications of the proposed procedure for goals of forecasting of inflation differentiated by income groups. In the result of the comparison with direct calculation of inflation separately for each income group we conclude that the proposed in the paper approach has several advantages, including lower requirements of amount of incoming information.
This paper examines what influences Russian households‟ decisions to save and borrow. We use the 2008 data from the 17th round of the Russia Longitudinal Monitoring Survey (RLMS-HSE). Our results show that the determinants of saving and borrowing are not only those suggested by economic theory but also include psychological and sociological considerations: smarter respondents, who are satisfied with their lives and inclined to help other people, are more likely to save. Those who enjoy stable or improving financial conditions and/or are satisfied with them are more likely to save and less likely to borrow. Financial literacy, a factor cited by institutional theory as positive for both saving and borrowing from banks, lost its significance at the onset of the financial crisis. Household income, suggested by economic theory as a basis for choosing a financial strategy, was found to have much less influence on savings and to have a positive influence on borrowing, confirming the rationing theory rather than intertemporal choice theory. Surprisingly, the fear of job loss does not make people save more, contrary to the precautionary motive.