Using the Russia Longitudinal Monitoring Survey, this article investigates how Russian households' consumption responds to income shocks and, in particular, how household wealth and human capital affect the households' ability to smooth consumption. An instrumental variable estimation method...

There is considerable debate about whether social protection programs providing transfers to households create disincentives for labor supply, but little attention is paid to the effect of programs on other forms of labor reallocation. This article estimates the impact of Brazil’s Bolsa...