The role of households in the Russian economy

Subject. The article deals with households in the Russian economy. Objectives. The aim is to identify the role of households in the Russian economy. Methods. The study rests on general scientific methods, primarily data analysis and synthesis, and special economic and mathematical methods, like correlation and regression analysis. Results. The study identified significant savings of the population in various forms – deposits, cash, quoted shares and units, shares of investment funds, established dominance of residential mortgage loans in the structure of financial obligations of households, and an increase in financial activity of the population through the use of complex financial instruments. It demonstrated that a volatile increase in deposit interest rates caused by an increase in the key rate forces the population to pay attention to short deposits, making deposits unstable for savings. Conclusions. The revealed role of the household in the Russian economy as an actor in the securitization of distressed assets indicates to the expert community the risks associated with limited disposal options for a dynamically inflating "money bubble" through a wide variety of types of structured financial instruments, the high key interest rate, and interest rates on deposits.