Temporal and spatial dependence of interregional risk sharing: Evidence from Russia

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F62156489%3A43110%2F21%3A43915133" target="_blank" >RIV/62156489:43110/21:43915133 - isvavai.cz</a>

Výsledek na webu

<a href="https://doi.org/10.1017/S1365100518000706" target="_blank" >https://doi.org/10.1017/S1365100518000706</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.1017/S1365100518000706" target="_blank" >10.1017/S1365100518000706</a>

Jazyk výsledku

angličtina

Název v původním jazyce

Temporal and spatial dependence of interregional risk sharing: Evidence from Russia

Popis výsledku v původním jazyce

We present an analysis of interregional consumption risk sharing in Russia between 1999 and 2009 using novel estimation methods. In addition to standard fixed-effects panel estimations, we use system and difference GMM estimators to reflect time dynamic Q2 properties and possible endogeneity between output and consumption. Furthermore, we apply spatial models that control for spatial dependence across regions. The results show that regional consumption deviations from the national average are highly persistent in time and space. Nevertheless, the regional consumption risk sharing in Russia is relatively high with 70%-90% of idiosyncratic risk being smoothed. Finally, fiscal policy and the degree of financial development appear to contribute to the consumption smoothing.

Název v anglickém jazyce

Temporal and spatial dependence of interregional risk sharing: Evidence from Russia

Popis výsledku anglicky

We present an analysis of interregional consumption risk sharing in Russia between 1999 and 2009 using novel estimation methods. In addition to standard fixed-effects panel estimations, we use system and difference GMM estimators to reflect time dynamic Q2 properties and possible endogeneity between output and consumption. Furthermore, we apply spatial models that control for spatial dependence across regions. The results show that regional consumption deviations from the national average are highly persistent in time and space. Nevertheless, the regional consumption risk sharing in Russia is relatively high with 70%-90% of idiosyncratic risk being smoothed. Finally, fiscal policy and the degree of financial development appear to contribute to the consumption smoothing.

Druh

J_imp - Článek v periodiku v databázi Web of Science

CEP obor

—

OECD FORD obor

50202 - Applied Economics, Econometrics

Projekt

—

Návaznosti

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Rok uplatnění

2021

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název periodika

Macroeconomic Dynamics

ISSN

1365-1005

e-ISSN

—

Svazek periodika

25

Číslo periodika v rámci svazku

1

Stát vydavatele periodika

US - Spojené státy americké

Počet stran výsledku

23

Strana od-do

178-200

Kód UT WoS článku

000609106000009

EID výsledku v databázi Scopus

2-s2.0-85065074641