Abstract | Keywords | Export | Availability | Bookmark

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

Russia's regions are heavily exposed to regional income shocks because of an uneven distribution of natural resources and a Soviet legacy of heavily skewed regional specialization. Also, Russia has a limited mobility of labor and lacks fiscal instruments to deal with regional shocks. We assess how these features influence the magnitude and persistence of regional income shocks, through a panel vector autoregression, drawing on extensive and unique regional data covering last decade. We find that labor mobility associated with regional shocks is far lower than in the United States yet higher than in the EU-15, and that regional expenditures tend to expand in booms and contract in recessions. We discuss institutional factors behind these outcomes and policy implications.

Electronic books. -- local. --- Fiscal policy -- Russia (Federation) -- Econometric models. --- Income -- Russia (Federation) -- Econometric models. --- Labor mobility -- Russia (Federation) -- Econometric models. --- Russia (Federation) -- Economic conditions -- Econometric models. --- Investments: Energy --- Labor --- Macroeconomics --- Public Finance --- Multiple or Simultaneous Equation Models: Models with Panel Data --- Fiscal Policy --- Intergovernmental Relations --- Federalism --- Secession --- Geographic Labor Mobility --- Immigrant Workers --- Comparative Studies of Particular Economies --- Personal Income, Wealth, and Their Distributions --- Aggregate Factor Income Distribution --- Energy: General --- Investment & securities --- Labour --- income economics --- Personal income --- Income shocks --- Fiscal policy --- Oil --- Labor mobility --- National accounts --- Commodities --- Income --- Petroleum industry and trade --- Russian Federation --- Econometric models. --- Russia (Federation) --- Economic conditions --- Income economics