Economic Shocks, Wealth, and Welfare
利用印尼家庭生活调查数据，分析亚洲金融危机对印尼家庭福利的即时影响，发现冲击效果差异巨大，家庭通过多种机制应对，如扩大消费规模经济、增加劳动供给、调整支出结构、利用财富平滑消费。
The immediate effects of the Asian crisis on the well-being of Indonesians are examined using the Indonesia Family Life Survey, an on-going longitudinal household survey. There is tremendous diversity in the effect of the shock: for some households, it was devastating; for others it brought new opportunities. A wide array of mechanisms were adopted in response to the crisis. Households combined to more fully exploit benefits of scale economies in consumption. Labor supply increased even as real wages collapsed. Households reduced spending on semi-durables while maintaining expenditures on foods. Rural households used wealth, particularly gold, to smooth consumption.