Ushakov D.S., Podolskaya T.V. THE CONSUMPTION RIGIDITY INDEX: STRUCTURAL CONSTRAINTS ON HOUSEHOLD BUDGETS IN A CROSS-COUNTRY PERSPECTIVE
DOI: https://doi.org/10.15688/ek.jvolsu.2026.2.3
Denis S. Ushakov
Doctor of Sciences (Economics), Professor, Department of World Economy and International Relations, Rostov State University of Economics, B. Sadovaya St, 69, 344002 Rostovon-Don, Russian Federation, This email address is being protected from spambots. You need JavaScript enabled to view it. , https://orcid.org/0000-0001-6413-6116
Tatiana V. Podolskaya
Candidate of Sciences (Economics), Associate Professor, Head of the Department of International Economic Relations, South-Russian Institute of Management, Branch of the Russian Presidential Academy of National Economy and Public Administration, Pushkinskaya St, 70/54, 344002 Rostov-on-Don, Russian Federation, This email address is being protected from spambots. You need JavaScript enabled to view it. , https://orcid.org/0000-0003-0337-051X
Abstract. In an environment of increasing macroeconomic volatility, understanding the structural constraints on consumer demand is becoming critically important. This study focuses on the phenomenon of “anchor costs”mandatory, inelastic items in household budgets that, according to behavioral economics and institutional theories, form a “financial floor” and influence macroeconomic stability. To bridge the methodological gap caused by the lack of a cross-country comparable metric, the authors develop and empirically validate a new quantitative indicatorthe Consumption Rigidity Index (CRI). The CRI methodology is based on the hypothesis that a high share of anchor costs leads to a symmetrically weak response of aggregate consumption to GDP fluctuations in both expansion and contraction phases. The index is calculated as the difference between the average elasticities of consumption to GDP during periods of economic growth and decline. A key result is not only the confirmation of the CRI’s validity but also the identification of two qualitatively different types of structural constraints it diagnoses. Conversely, sharply negative CRI values signal “debt fragility” – a procyclical vulnerability caused by excessive household debt burdens. Thus, the CRI transforms from a measure of rigidity into a diagnostic tool for differentiating policy responses: income support measures or macroprudential regulation.
Key words: anchor costs, Consumption Rigidity Index, elasticity of consumption, debt fragility, procyclical vulnerability.
THE CONSUMPTION RIGIDITY INDEX: STRUCTURAL CONSTRAINTS ON HOUSEHOLD BUDGETS IN A CROSS-COUNTRY PERSPECTIVE by Ushakov D.S., Podolskaya T.V. is licensed under a Creative Commons Attribution 4.0 International License.
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