Is The Cost Of Living In Russia Really That Low?
AbstractThere is a widespread opinion that goods, especially foods, and services in Russia are very cheap as compared to the US. A number of Russian statistical indicators characterizing the cost of living, either directly or indirectly, seemingly corroborate this opinion. This paper demonstrates that these indicators are biased, sufficiently understating the cost of living in Russia. A comparison of Russian actual prices for foods with those in the US evidences that they are comparable. Moreover, the Russian prices are tending to catch up with the US prices.
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Bibliographic InfoPaper provided by William Davidson Institute at the University of Michigan in its series William Davidson Institute Working Papers Series with number wp949.
Date of creation: 01 Dec 2008
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food prices; cost of living; minimum wage; subsistence level; Russia; US.;
Other versions of this item:
- I31 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General Welfare, Well-Being
- O57 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries
- P22 - Economic Systems - - Socialist Systems and Transition Economies - - - Prices
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