IDEAS home Printed from https://ideas.repec.org/a/ris/apltrx/0332.html
   My bibliography  Save this article

Current incomes and financial behavior of households: Who loses more in a crisis?

Author

Listed:
  • Ludmila Nivorozhkina

    (Rostov State University of Economics (RSUE), Rostov-on-Don, Russian Federation)

Abstract

The article suggests an original approach to assessing changes in living standard during the economic crisis, implemented by the triangular recursive system of equation using a multivariate probit model, dealing with unobservable individual heterogeneity, the bias due to omitted variables and endogeneity. The outcomes of the system equations are binary variables capturing changes in the position of the household in the income distribution, subjective estimates of such changes and financial behavior.

Suggested Citation

  • Ludmila Nivorozhkina, 2017. "Current incomes and financial behavior of households: Who loses more in a crisis?," Applied Econometrics, Russian Presidential Academy of National Economy and Public Administration (RANEPA), vol. 48, pages 85-96.
    • Handle: RePEc:ris:apltrx:0332
    as

    Download full text from publisher

    File URL: http://pe.cemi.rssi.ru/pe_2017_48_085-096.pdf
    File Function: Full text
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Lorenzo Cappellari & Stephen P. Jenkins, 2006. "Calculation of multivariate normal probabilities by simulation, with applications to maximum simulated likelihood estimation," Stata Journal, StataCorp LLC, vol. 6(2), pages 156-189, June.
    2. Balia, Silvia & Jones, Andrew M., 2008. "Mortality, lifestyle and socio-economic status," Journal of Health Economics, Elsevier, vol. 27(1), pages 1-26, January.
    3. Lorenzo Cappellari & Stephen P. Jenkins, 2003. "Multivariate probit regression using simulated maximum likelihood," Stata Journal, StataCorp LLC, vol. 3(3), pages 278-294, September.
    4. Young, Gary & Valdez, Emiliano A. & Kohn, Robert, 2009. "Multivariate probit models for conditional claim-types," Insurance: Mathematics and Economics, Elsevier, vol. 44(2), pages 214-228, April.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Young, Gary & Valdez, Emiliano A. & Kohn, Robert, 2009. "Multivariate probit models for conditional claim-types," Insurance: Mathematics and Economics, Elsevier, vol. 44(2), pages 214-228, April.
    2. Francisco Rosas & Santiago Acerenza & Peter F. Orazem, 2020. "Optimal pricing strategies for a cluster of goods: own- and cross-price effects with correlated tastes," Applied Economics, Taylor & Francis Journals, vol. 52(7), pages 742-755, February.
    3. Cinzia Di Novi, 2007. "An Economic Evaluation of Life-Style and Air-pollution-related Damages: Results from the BRFSS," JEPS Working Papers 07-001, JEPS.
    4. Bronwyn H. Hall & Francesca Lotti & Jacques Mairesse, 2013. "Evidence on the impact of R&D and ICT investments on innovation and productivity in Italian firms," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 22(3), pages 300-328, April.
    5. Fang, Xiangming & Tarui, Nori, 2015. "Child Maltreatment, Family Characteristics, and Educational Attainment: Evidence from Add Health Data," 2015 AAEA & WAEA Joint Annual Meeting, July 26-28, San Francisco, California 205319, Agricultural and Applied Economics Association.
    6. Damien Rousselière & Samira Rousselière, 2010. "On the impact of trust on consumer willingness to purchase GM food:Evidence from a European survey," Review of Agricultural and Environmental Studies - Revue d'Etudes en Agriculture et Environnement, INRA Department of Economics, vol. 91(1), pages 5-26.
    7. George van Leeuwen & Pierre Mohnen, 2017. "Revisiting the Porter hypothesis: an empirical analysis of Green innovation for the Netherlands," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 26(1-2), pages 63-77, February.
    8. Kanabar, Ricky, 2017. "In or out? Poverty dynamics among older individuals in the UK," Journal of Pension Economics and Finance, Cambridge University Press, vol. 16(4), pages 509-553, October.
    9. Krisztina Kis-Katos, 2012. "Gender differences in work-schooling decisions in rural North India," Review of Economics of the Household, Springer, vol. 10(4), pages 491-519, December.
    10. Doran Justin & Ryan Geraldine, 2017. "The role of stimulating employees’ creativity and idea generation in encouraging innovation behaviour in Irish firms," The Irish Journal of Management, Sciendo, vol. 36(1), pages 32-48.
    11. Allen, W. David, 2009. "Interview effects in the reporting of domestic violence," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 38(2), pages 288-300, March.
    12. Vitaliy Roud & Valeriya Vlasova, 2016. "Firm-Level Evidence on the Cooperative Innovation Strategies in Russian Manufacturing," HSE Working papers WP BRP 63/STI/2016, National Research University Higher School of Economics.
    13. Miriam Marcén & José Molina, 2012. "Informal caring-time and caregiver satisfaction," The European Journal of Health Economics, Springer;Deutsche Gesellschaft für Gesundheitsökonomie (DGGÖ), vol. 13(6), pages 683-705, December.
    14. STANCIOLE Anderson, 2007. "Health Insurance and Life Style Choices: Identifying the Ex Ante Moral Hazard," IRISS Working Paper Series 2007-10, IRISS at CEPS/INSTEAD.
    15. Di Novi, Cinzia, 2013. "The indirect effect of fine particulate matter on health through individuals’ life-style," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 44(C), pages 27-36.
    16. Pinuccia Calia & Maria Ferrante, 2013. "How do firms combine different internationalisation modes? A multivariate probit approach," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 149(4), pages 663-696, December.
    17. Cottini Elena & Ghinetti Paolo, 2017. "Is it the Way You Live or the Job You Have? Health Effects of Lifestyles and Working Conditions," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 17(3), pages 1-20, July.
    18. Witvorapong, Nopphol, 2018. "Healthy behaviours and productive activities among Thai older adults: A repeated cross-sectional analysis," Social Science & Medicine, Elsevier, vol. 213(C), pages 12-19.
    19. Oparinde, Adewale & Hodge, Ian, 2011. "Building livelihood resilience: a case study of factors affecting farm households’ adoption of coping and adaptive strategies in rural Nigeria," MPRA Paper 39162, University Library of Munich, Germany.
    20. Sosa-Rubí, Sandra G. & Galárraga, Omar & Harris, Jeffrey E., 2009. "Heterogeneous impact of the "Seguro Popular" program on the utilization of obstetrical services in Mexico, 2001-2006: A multinomial probit model with a discrete endogenous variable," Journal of Health Economics, Elsevier, vol. 28(1), pages 20-34, January.

    More about this item

    Keywords

    crisis; household financial behavior; multivariate probit model; the triangular recursive system of;
    All these keywords.

    JEL classification:

    • D22 - Microeconomics - - Production and Organizations - - - Firm Behavior: Empirical Analysis
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ris:apltrx:0332. See general information about how to correct material in RePEc.

    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 CitEc recognized a bibliographic reference but did not link an item in RePEc 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Anatoly Peresetsky (email available below). General contact details of provider: http://appliedeconometrics.cemi.rssi.ru/ .

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

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.