| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP5279 |
| DP5279 Model Averaging and Value-at-Risk Based Evaluation of Large Multi-Asset Volatility Models for Risk Management | |
| M. Hashem Pesaran; Paolo Zaffaroni | |
| 发表日期 | 2005-10-31 |
| 出版年 | 2005 |
| 语种 | 英语 |
| 摘要 | Russia'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 labour 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 auto-regression, drawing on extensive and unique regional data covering the last decade. We find that labour mobility associated with regional shocks is far lower than in the US 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. |
| 主题 | International Macroeconomics ; International Trade and Regional Economics |
| 关键词 | Russia Fiscal policy Panel var Labour mobility |
| URL | https://cepr.org/publications/dp5279 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/534189 |
| 推荐引用方式 GB/T 7714 | M. Hashem Pesaran,Paolo Zaffaroni. DP5279 Model Averaging and Value-at-Risk Based Evaluation of Large Multi-Asset Volatility Models for Risk Management. 2005. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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