MARC Record from University of Toronto

LEADER: 02040cam 2200289 a 4500
001 ocm61939749
005 20060206122350.0
008 051011s2005 dcua b i000 0 eng d
039 $frv
043 $ae-ur---
100 1 $aKwon, Goohoon.
245 10 $aRussia's regions :$bincome volatility, labor mobility, and fiscal policy /$cprepared by Goohoon Kwon and Antonio Spilimbergo.
260 $aWashington, D.C. :$bInternational Monetary Fund, European Dept. and Reserach Dept.,$cc2005.
300 $a18 p. :$bill. ;$c28 cm.
440 0 $aIMF working paper ;$vWP/05/185
500 $a"September 2005."
504 $aIncludes bibliographical references (p. 16-18).
530 $aAlso available on the World Wide Web.
520 $aRussia's regions are heavily exposed to regional income shocks because of an uneven distribution of natural resources and a Soviet legacy of heavily skewed regional specialization. Also, Russia has a limited mobility of labor and lacks fiscal instruments to deal with regional shocks. We assess how these features influence the magnitude and persistence of regional income shocks, through a panel vector autoregression, drawing on extensive and unique regional data covering last decade. We find that labor mobility associated with regional shocks is far lower than in the United States yet higher than in the EU-15, and that regional expenditures tend to expand in booms and contract in recessions. We discuss institutional factors behind these outcomes and policy implications.
651 0 $aRussia (Federation)$xEconomic conditions$xEconometric models.
650 0 $aIncome$zRussia (Federation)$xEconometric models.
650 0 $aLabor mobility$zRussia (Federation)$xEconometric models.
650 0 $aFiscal policy$zRussia (Federation)$xEconometric models.
700 1 $aSpilimbergo, Antonio.
710 2 $aInternational Monetary Fund.$bEuropean Dept.
710 2 $aInternational Monetary Fund.$bResearch Dept.
949 $aUN9..MF...6-2005I185$wLC$c1$i5739892-1001$lGOVPUBS$mDATAMAPGOV$rN$sY$tBOOK$u6/2/2006