Temporal and spatial dependence of inter-regional risk sharing: evidence from Russia
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 properties and possible endogeneity between ou...
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| Hauptverfasser: | , |
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Regensburg
Leibniz Institute for Eastern and Southeastern European Studies
July 2018
|
| Schriftenreihe: | IOS working papers
No. 373 |
| Schlagworte: | |
| Online-Zugang: | kostenfrei |
| Zusammenfassung: | 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 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, regional consumption risk sharing in Russia is relatively high with 70 to 90 per cent of idiosyncratic risk being smoothed. Finally, fiscal policy and the degree of financial development appear to contribute to the consumption smoothing. |
| Beschreibung: | 1 Online-Ressource (v, 31 Seiten) |
| Format: | kostenfrei |
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| spelling | Fidrmuc, Jarko 1968- (DE-588)121488659 aut Temporal and spatial dependence of inter-regional risk sharing evidence from Russia Jarko Fidrmuc and Moritz Degler Regensburg Leibniz Institute for Eastern and Southeastern European Studies July 2018 1 Online-Ressource (v, 31 Seiten) txt rdacontent c rdamedia cr rdacarrier IOS working papers No. 373 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 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, regional consumption risk sharing in Russia is relatively high with 70 to 90 per cent of idiosyncratic risk being smoothed. Finally, fiscal policy and the degree of financial development appear to contribute to the consumption smoothing. kostenfrei Langzeitarchivierung durch die Bayerische Staatsbibliothek Geschichte 1999-2009 gnd rswk-swf Privater Verbrauch (DE-588)4076351-1 gnd rswk-swf Region (DE-588)4049029-4 gnd rswk-swf Russland (DE-588)4076899-5 gnd rswk-swf Russland (DE-588)4076899-5 g Region (DE-588)4049029-4 s Privater Verbrauch (DE-588)4076351-1 s Geschichte 1999-2009 z DE-604 Degler, Moritz aut IOS working papers No. 373 (DE-604)BV040033175 373 http://www.dokumente.ios-regensburg.de/publikationen/wp/wp_373.pdf Verlag kostenfrei |
| spellingShingle | Fidrmuc, Jarko 1968- Degler, Moritz Temporal and spatial dependence of inter-regional risk sharing evidence from Russia IOS working papers Privater Verbrauch (DE-588)4076351-1 gnd Region (DE-588)4049029-4 gnd |
| subject_GND | (DE-588)4076351-1 (DE-588)4049029-4 (DE-588)4076899-5 |
| title | Temporal and spatial dependence of inter-regional risk sharing evidence from Russia |
| title_auth | Temporal and spatial dependence of inter-regional risk sharing evidence from Russia |
| title_exact_search | Temporal and spatial dependence of inter-regional risk sharing evidence from Russia |
| title_full | Temporal and spatial dependence of inter-regional risk sharing evidence from Russia Jarko Fidrmuc and Moritz Degler |
| title_fullStr | Temporal and spatial dependence of inter-regional risk sharing evidence from Russia Jarko Fidrmuc and Moritz Degler |
| title_full_unstemmed | Temporal and spatial dependence of inter-regional risk sharing evidence from Russia Jarko Fidrmuc and Moritz Degler |
| title_short | Temporal and spatial dependence of inter-regional risk sharing |
| title_sort | temporal and spatial dependence of inter regional risk sharing evidence from russia |
| title_sub | evidence from Russia |
| topic | Privater Verbrauch (DE-588)4076351-1 gnd Region (DE-588)4049029-4 gnd |
| topic_facet | Privater Verbrauch Region Russland |
| url | http://www.dokumente.ios-regensburg.de/publikationen/wp/wp_373.pdf |
| volume_link | (DE-604)BV040033175 |
| work_keys_str_mv | AT fidrmucjarko temporalandspatialdependenceofinterregionalrisksharingevidencefromrussia AT deglermoritz temporalandspatialdependenceofinterregionalrisksharingevidencefromrussia |