Advanced Search
MyIDEAS: Login to save this article or follow this journal

Giffen Goods in a Transition Economy: Subsistence Consumption in Russia

Contents:

Author Info

  • Yochanan Shachmurove, Janusz Szyrmer

    ()
    (The City College of The City University of New York)

Abstract

In the last decade, events outside the realm of Western economics have been viewed as “paradoxes.” We focus on the Giffen paradox, and argue that Giffenity is consistent with a generalized law of demand. We confirm the occurrence of Giffenity in Russia during the early 1990s. During this period, people reduced consumption of less affordable meat and fish despite a decline in their relative prices, while augmenting their consumption of more affordable potatoes and bread, a significant increase in relative prices of the latter goods notwithstanding. We conclude that incorporating Giffenity into current economic theory will make it more robust.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://www.ffe.esc-lille.com/papers/Vol8-2ms354Shachmurove.pdf
Download Restriction: no

Bibliographic Info

Article provided by SKEMA Business School in its journal Frontiers in Finance and Economics.

Volume (Year): 8 (2011)
Issue (Month): 2 (October)
Pages: 27-48

as in new window
Handle: RePEc:ffe:journl:v:8:y:2011:i:2:p:27-48

Contact details of provider:
Web page: http://www.ffe.esc-lille.com

Related research

Keywords: Giffen goods; inferior goods; subsistence; Russia; household consumption; post-soviet transition;

Find related papers by JEL classification:

References

No references listed on IDEAS
You can help add them by filling out this form.

Citations

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:ffe:journl:v:8:y:2011:i:2:p:27-48. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Sophie Bodo).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.