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This paper examines the extent to which consumption in Russian households responds to exogenous income shocks. During … wealth households. Only models of consumption which include precautionary savings motives can explain why poorer households … both reduce their consumption and increase their savings in response to an exogenous decline in income. …
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Machine generated contents note: 1 The Dream Class Is Over: Home Ownership, Consumption, -- and (Re)definitions of …
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