Importance The article determines factors underlying cash income of the Russian population, builds a multivariate correlation and regression model of the Russian population's income, according to the 2000–2013 data, evaluates its adequacy and emphasizes the specifics of effects certain factors have on households' income generation process. Objectives The research determines priorities of the governmental policy for increasing the population's income through the multinomial correlation and regression model. Methods I applied a set of indicators, which included such variables as the number of the employed, price index, population size, minimum subsistence level, minimum wage rate, to build the model of the Russia population's cash income. Results The minimum subsistence level has the biggest effect on the amount of the Russian population's cash income for the period under study, followed by the average monthly nominal wage, minimum wage rate. Conclusions and Relevance Relying upon the economic and statistical model of the Russian population's income, I outlined key paths of the governmental policy for population's income. Upon the completion of the model, I conclude that basic social standards will constitute two of three most significant factors, i.e. subsistence level and minimum wage rate. Thus, it would be reasonable to strategically direct the governmental policy for increasing the standard of living, and population's income and respectively reform methods used to assess the subsistence level, and increase the minimum wage rate.
Keywords: population income, standard of living, correlation, regression, model, income regulation policy, social standards
References:
Fedorova L.N. [Distribution of households' monetary income in the Russian Federation]. Problemy ucheta i finansov =Problems of Accounting and Finance, 2011, no. 2, pp. 35–41. (In Russ.)
Tsarev I.G. [On modeling of distribution of the income in society]. Prikladnaya ekonometrika =Applied Econometrics, 2008, no. 3, pp. 43–51. (In Russ.)
Navoev A. [On income generation and its trade-off with social product]. Obshchestvo i ekonomika = Society and Economics, 2012, no. 5, pp. 33–50. (In Russ.)
Butova L.M. [Population's welfare and its regulation mechanism]. Vestnik Voronezhskogo gosudarstvennogo universiteta. Ser. Ekonomika i upravlenie = Proceedings of Voronezh State University. Series: Economics and Management, 2006, no. 1, pp. 5–10. (In Russ.)
Surinov A.E. Dokhody naseleniya. Opyt kolichestvennykh izmerenii [Population's income. The practice of quantitative assessment]. Moscow, Finansy i Statistika Publ., 2001, 429 p.
Litvinov V.A. Problemy urovnya zhizni v sovremennoi Rossii [Standards of living in contemporary Russia and relevant issues]. Moscow, LKI Publ., 2008, 248 p.
Zherebin V.M., Romanov A.M. Uroven' zhizni naseleniya: osnovnye kategorii, kharakteristiki i metody otsenki: monografiya [Population's standards of living: basic categories, characteristics and assessment methods: a monograph]. Moscow, INFRA-M Publ., 2015, 592 p.
Suvorov A.V., Ivanov V.N., Sukhorukova G.M. [The trade-off between initiatives of the socio-economic policy for population's income and consumption, and macroeconomic dynamics]. Problemy prognozirovaniya = Problems of Forecasting, 2011, no. 5, pp. 76–91. (In Russ.)
Kadomtseva S.V. [Social policy and income reallocation]. Uroven' zhizni naseleniya regionov Rossii = Standard of Living of the Population in the Russian Regions, 2012, no. 5, pp. 105–111. (In Russ.)
Antonova N.A. [On measures to increase the population's income and decrease the poverty]. Uroven' zhizni naseleniya regionov Rossii = Standard of Living of the Population in the Russian Regions, 2012, no. 10-11, pp. 71–78. (In Russ.)
Zherebtsova N.A. [What determines the minimum wage rate?]. Motivatsiya i oplata truda = Motivation and Payroll, 2013, no. 3, pp. 284–289. (In Russ.)
