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Temporal and spatial dependence of inter-regional risk sharing: Evidence from Russia

Wirtschaftswissenschaften

Autoren:
Fidrmuc, Jarko, Degler, Moritz
Titel:
Temporal and spatial dependence of inter-regional risk sharing: Evidence from Russia
Kurzzitat:
Fidrmuc, Jarko, Degler, Moritz: Temporal and spatial dependence of inter-regional risk sharing: Evidence from Russia, Macroeconomic Dynamics, 2019 (in Druck).
Publikationstyp:
Originalarbeiten in wissenschaftlichen Fachzeitschriften mit Review-Verfahren
Abstract:
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.
Status
(Im Druck)
Kontakt:
Zeppelin-Lehrstuhl für Internationale Wirtschaftstheorie & -politik (eingerichtet 05 / 2011)

Am Seemooser Horn 20
88045 Friedrichshafen

Tel: +49 7541 6009-1241
Fax: +49 7541 6009-1299
Email: jarko.fidrmuc@zu.de
http://www.zeppelin-university.de/deutsch/lehrstuehle/internationales_management/internationales_management_profil.php
Forschungsbericht der Abteilung für das Jahr 2019