Abstract

http://ssrn.com/abstract=1883530
 
 

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Sir Robert Giffen Meets Russia in Early 1990s


Yochanan Shachmurove


The City College of The City University of New York - Department of Economics; The University of Pennsylvania - Department of Economics

Janusz M. Szyrmer


CASE - Center for Social and Economic Research

July 11, 2011

PIER Working Paper No. 11-020

Abstract:     
This paper analyzes the theoretical foundations of Giffen goods and details the difficulty with which prior studies have encountered limited empirical proof of Giffenity. Subsequently, a discussion of the economic overview of Russia during the early 1990s is provided. The paper then applies Giffenity to the newly established free market system of post-Soviet Union Russia while acknowledging changes in the prices for goods, specifically, for inferior food commodities. The paper concludes by advocating for the need to incorporate Giffenity into current economic theory to make it more comprehensive.

Number of Pages in PDF File: 25

Keywords: Giffen goods, inferior goods, subsistence, Russia, household consumption, post-soviet transition

JEL Classification: D1, E2

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Date posted: July 11, 2011  

Suggested Citation

Shachmurove, Yochanan and Szyrmer, Janusz M., Sir Robert Giffen Meets Russia in Early 1990s (July 11, 2011). PIER Working Paper No. 11-020. Available at SSRN: http://ssrn.com/abstract=1883530 or http://dx.doi.org/10.2139/ssrn.1883530

Contact Information

Yochanan Shachmurove (Contact Author)
The City College of The City University of New York - Department of Economics ( email )
160 Convent Avenue
New York, NY 10031
United States
212-650-6202 (Phone)
The University of Pennsylvania - Department of Economics ( email )
3718 Locust Walk
Philadelphia, PA 19104
United States
215-898-1090 (Phone)
215-573-2057 (Fax)
Janusz M. Szyrmer
CASE - Center for Social and Economic Research ( email )
Sienkiewicza 12
Warsaw, 00-010
Poland
+48 22 622 66 27 (Phone)
+48 22 828 60 69 (Fax)
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