The Influence of the Ruble Real Exchange Rate on the Russian Economy
AbstractAn econometric study of the influence of the ruble real exchange rate on the Russian economy is considered in the paper. The research, based on a disaggregated macroeconomic model, presents a theoretical description of the three main sectors of the Russian economy. The most important result is that the current ruble real appreciation causes the real output decline in the main sectors of the economy. On the other hand, stable expectations of the ruble real appreciation lead to growth of the economy real output. The conclusions are confirmed by results of an econometric study based on the Engle-Granger cointegration analysis.
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Bibliographic InfoArticle provided by Publishing House "SINERGIA PRESS" in its journal Applied Econometrics.
Volume (Year): 4 (2006)
Issue (Month): 4 ()
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Web page: http://appliedeconometrics.cemi.rssi.ru/
exchange rate; macroeconomic model;
Find related papers by JEL classification:
- E20 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - General (includes Measurement and Data)
- F31 - International Economics - - International Finance - - - Foreign Exchange
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