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| Author: | Guariglia, A. Kim, B-Y. |
| Title: | Wage arrears uncertainty and precautionary saving in Russia |
| Journal: | Economics of transition
2003 : VOL. 11:3, p. 493-512 |
| Index terms: | Savings Uncertainty Russia |
| Freeterms: | Wage arrears |
| Language: | eng |
| Abstract: | Wage arrears are widespread in Russia, and are one of the main causes of uncertainty in the labour market. This article uses the Russian longitudinal monitoring survey over the period 1994-98 to construct a new and improved measure of household income risk, based on the uncertainty due to wage arrears. Then this measure of uncertainty is used to test the precautionary saving hypothesis, according to which households save to self-insure against risk. Significant evidence of additional saving is found by those households whose head is more likely to suffer from wage arrears one year hence. |
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