In this study we provide some preliminary evidence about the impact of the economic crisis on household living standards, measured by real consumption expenditures per capita, and the distribution of living standards across households, measured by indeces of inequality. Our study has tow distinguishing characteristics worth highlighting right from the start. The first is that it is based on a set of households that were first surveyed in May 1997 just before the onset of the crisis, and then fourteen months later in August 1998 when the crisis had reached its peak. Examining the impact of the crisis using a panel of households offers the opportunity to identify how the welfare of specific households changed as a result of the crisis. The second is in relation to the price deflator we use to make nominal consumption expenditures comparable across years. We adopt a household-specific deflator that is a weighted average of the food and non-food price indices. Such a deflator is more appropriate for evaluating the effects of the economic crisis since it captures more accurately the impact of higher food prices on the poorer households.
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Length: 47 pages Date of creation: Sep 1999 Date of revision: Handle: RePEc:eab:develo:93
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Find related papers by JEL classification: D60 - Microeconomics - - Welfare Economics - - - General I31 - Health, Education, and Welfare - - Welfare and Poverty - - - General Welfare I32 - Health, Education, and Welfare - - Welfare and Poverty - - - Measurement and Analysis of Poverty P46 - Economic Systems - - Other Economic Systems - - - Household Behavior
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