[Vortrag Regensburg] Temporal and Spatial Dependence of Interregional Risk Sharing: Evidence from Russia

09.05.2017 (13:30 - 15:00)

Am Dienstag, 9. Mai 2017, hält Jarko Fidrmuc (Zeppelin University/IOS research fellow) im Rahmen der Seminarreihe des AB Ökonomie am IOS einen Vortrag zum Thema "Temporal and Spatial Dependence of Interregional Risk Sharing: Evidence from Russia".

Beginn: 13:30 Uhr in Raum 109/IOS

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 possible endogeneity between output and consumption. Furthermore, we apply spatial models that controls 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.

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