On May 28, 2021, Alexei Zamnius, Junior Researcher of the Macroeconomic Modeling of Economic Processes Department, Gaidar Institute addressed the 5th International Russia Longitudinal Monitoring Survey of HSE User Conference. The Conference was held under the auspices of the National Research University Higher School of Economics with the support of the University of North Carolina in Chapel Hill, the “Demoscope” Research Center and the Institute of Sociology of the Federal Center of Theoretical and Applied Sociology of the Russian Academy of Sciences and organized within the framework of the grant provided by the Ministry of Science and Higher Education of the Russian Federation.

In his address, the speaker presented a new approach to the econometric evaluation of various options of wage elasticities of labor supply, as well as elasticities thus calculated for the Russian Federation.

To implement the described procedure, also evaluated apart from the labor-supply function were the wages equation and consumption function for men and women in 2000-2018 based on the RLMS-HSE data. The received outputs represent additional evidence in favor of the Russian labor market adaptability to macroeconomic shocks owing to the pricing mechanism. Also, it was established that wages profiles for men and women reached their peaks during the working age and this is in harmony with the outputs of the previous research. Finally, the presented estimates of labor supply elasticities can be utilized in the calibration of macroeconomic models.

Presentation to the report.