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Estimates of households consumer behavior in Russia
https://doi.org/10.32609/0042-8736-2022-3-98-117
Abstract
In this paper, the consumption profiles of households in the Russian Federation are constructed and, on their basis, the parameters of future discounting and relative risk aversion are evaluated. The paper demonstrates that the age profiles are hump-shaped, the peak consumption level is reached at 38—40 years. The important determinant of the hump shape is the composition of the household: when consumption is recalculated for the average individual in a household, the hump shape becomes less pronounced. On average, households have a high level of relative risk aversion and a low level of future discounting. This configuration of parameters indicates the important role of the precautionary motive in the consumer behavior of households. Estimates are presented for households with different levels of education and number of people.
About the Authors
P. K. Koval
Gaidar Institute for Economic Policy
Russian Federation
Russian Federation
Pavel K. Koval
Moscow
A. V. Polbin
Gaidar Institute for Economic Policy; Russian Presidential Academy of National Economy and Public Administration
Russian Federation
Russian Federation
Andrey V. Polbin
Moscow
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For citations:
Koval P.K., Polbin A.V. Estimates of households consumer behavior in Russia. Voprosy Ekonomiki. 2022;(3):98-117. (In Russ.) https://doi.org/10.32609/0042-8736-2022-3-98-117
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