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Indicators of Financial Security on the Micro-Level: Approach to Empirical Estimation

Author

Listed:
  • L.I. Nivorozhkina
  • E.N. Alifanova
  • Y.S. Evlakhova
  • A.A. Tregubova

Abstract

The article suggests an original approach to economic security system indicators formation at micro level based on the assessment of changes in households’ living and financial behavior under economic crisis.An econometric implementation based on the triangular recursive system of equations is used with a multivariate probit model, dealing with unobservable individual heterogeneity, with the bias atributed to omitted variables and endogeneity.The estimation was performed according to the representative survey of the population “The Russia Longitudinal Monitoring Survey - Higher School of Economics (RLMS-HSE) (RLMS-HSE, 2017).

Suggested Citation

  • L.I. Nivorozhkina & E.N. Alifanova & Y.S. Evlakhova & A.A. Tregubova, 2018. "Indicators of Financial Security on the Micro-Level: Approach to Empirical Estimation," European Research Studies Journal, European Research Studies Journal, vol. 0(Special1), pages 324-332.
    • Handle: RePEc:ers:journl:v:xxi:y:2018:i:special1:p:324-332
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    More about this item

    Keywords

    Crisis; household; financial behavior; system of equations; endogeneity; financial safety; indicators. JEL Classification Codes: C35; C51; D14Read the Full Version here;
    All these keywords.

    JEL classification:

    • C35 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Discrete Regression and Qualitative Choice Models; Discrete Regressors; Proportions
    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation

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