Research Seminar of International Laboratory for Macroeconomic Analysis: Dmitry Veselov «Welfare convergence in transition economies»

Dear Colleagues,

International Laboratory for Macroeconomic Analysis invites everyone to join our research seminar on the 30th of  March  2023 (Thursday) at 04:00 PM (Moscow). 

Speaker: Dmitry Veselov

Theme: «Welfare convergence in transition economies»

Abstract:
Are the post-socialist economies approaching the level of well-being with the countries of Western Europe in the period 1990-2017?  To answer this question, we use a micro-based welfare metric that takes into account the size of consumption, the amount of free time, life expectancy, and the level of inequality in the economy, proposed in the article (Jones & Klenow, 2016). The results show that the post-socialist countries of Central Europe have significantly converged in welfare with the countries of Western Europe, while the countries of the former Soviet Union have heterogeneous dynamics, and in general do not tend to converge.
The model helps to decompose the contribution of individual factors to the gain in welfare for individual economies. The main sources of wealth growth for post-socialist economies have been increases in income and life expectancy. We also discuss the role of fundamental factors on the dynamics of welfare in post-socialist economies to underline the mechanisms that determine the welfare convergence and divergence.

Working language: English, Russian

Link:  https://us06web.zoom.us/j/86433300121?pwd=d3BVdzZETWpWcW9jZ0dqVXY4NHMrdz09

ID: : 864 3330 0121

Passport: 300749 

Looking forward to see you.