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Forecast of Russian Personal Consumption Expenditures as Function of Income Distribution and Relative Prices

Author

Listed:
  • V. V. Potapenko

    (Institute of Economic Forecasting, Russian Academy of Sciences)

  • A. A. Shirov

    (Institute of Economic Forecasting, Russian Academy of Sciences)

Abstract

— The article considers an approach to modeling and forecasting personal consumption expenditures for Russia. This approach requires modeling income distribution by Lorenz curve and estimation demand system’s equations. The estimated system is “Perhaps Adequate Demand System” (PADS). The result of this approach’s application is a forecast of personal consumption expenditures in constant prices per capita for goods and services in COICOP classification.

Suggested Citation

  • V. V. Potapenko & A. A. Shirov, 2021. "Forecast of Russian Personal Consumption Expenditures as Function of Income Distribution and Relative Prices," Studies on Russian Economic Development, Springer, vol. 32(1), pages 1-10, January.
    • Handle: RePEc:spr:sorede:v:32:y:2021:i:1:d:10.1134_s1075700721010111
    DOI: 10.1134/S1075700721010111
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    References listed on IDEAS

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    1. Sonnenschein, Hugo, 1972. "Market Excess Demand Functions," Econometrica, Econometric Society, vol. 40(3), pages 549-563, May.
    2. Rossella Bardazzi & Marco Barnabani, 2001. "A Long-run Disaggregated Cross-section and Time-series Demand System: An Application to Italy," Economic Systems Research, Taylor & Francis Journals, vol. 13(4), pages 365-389.
    3. Rasche, R H, et al, 1980. "Functional Forms for Estimating the Lorenz Curve: Comment," Econometrica, Econometric Society, vol. 48(4), pages 1061-1062, May.
    4. Deaton, Angus S & Muellbauer, John, 1980. "An Almost Ideal Demand System," American Economic Review, American Economic Association, vol. 70(3), pages 312-326, June.
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