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Soviet Household Saving Function

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  • Byung Yeon Kim

Abstract

In this paper, the Soviet household saving function is estimated using reconstructed data from the unpublished archival material: the Soviet family budget survey data. In addition, a shortage indicator is developed to capture both household purchasing power in comparison with the availability of consumer goods in the official market and the spillover of the household demand for consumer goods from the official retail market to the secondary one. A long-run solution of the Soviet household saving function, which includes a shortage indicator as one of the independent variables, is estimated using these data. The reliability of the long-run solution is confirmed by the short-run dynamics of the Soviet household saving function, which satisfy super-exogeneity, parameter constancy, and several diagnostic tests. The highly significant coefficient of the shortage indicator suggests that Soviet household saving behaviour was affected by shortages of consumer goods during 1965–1989. Copyright Kluwer Academic Publishers 1997
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Suggested Citation

  • Byung Yeon Kim, "undated". "Soviet Household Saving Function," Ace Project Memoranda 96/14, Department of Economics, University of Leicester.
  • Handle: RePEc:wuk:leiapm:96/14
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    Cited by:

    1. Mark C. Foley & William Pyle, 2005. "Household Savings in Russia during the Transition," Middlebury College Working Paper Series 0522, Middlebury College, Department of Economics.
    2. Kenneth Smith, 2003. "Individual Welfare in the Soviet Union," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 64(1), pages 75-105, October.
    3. Shida, Yoshisada, 2015. "Forced Savings in the Soviet Republics: Re-examination," RRC Working Paper Series 54, Russian Research Center, Institute of Economic Research, Hitotsubashi University.
    4. Kim, Byung Yeon & Shida, Yoshisada, 2014. "Shortages and the Informal Economy in the Soviet Republics: 1965-1989," RRC Working Paper Series 43, Russian Research Center, Institute of Economic Research, Hitotsubashi University.
    5. Randall K. Filer & Jan Hanousek, 2002. "Data Watch: Research Data from Transition Economies," Journal of Economic Perspectives, American Economic Association, vol. 16(1), pages 225-240, Winter.
    6. Kim, Byung-Yeon, 1999. "The Income, Savings, and Monetary Overhang of Soviet Households," Journal of Comparative Economics, Elsevier, vol. 27(4), pages 644-668, December.
    7. Albu, Lucian-Liviu & Nicolae, Mariana, 2003. "Use of households survey data to estimate the size of the informal economy in Romania," MPRA Paper 14286, University Library of Munich, Germany.
    8. Kenneth Smith, 2007. "Determinants of Soviet Household Income," European Journal of Comparative Economics, Cattaneo University (LIUC), vol. 4(1), pages 3-24, June.

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