The Influence of the Ruble Real Exchange Rate on the Russian Economy
An 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.
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Guillermo A. Calvo & Carmen M. Reinhart, 2000.
"Fixing for Your Life,"
NBER Working Papers
8006, National Bureau of Economic Research, Inc.
- Aivazian, Sergei & Brodsky, Boris, 2006. "Macroeconometric modeling: modern trends, problems, an example of the econometric model of the Russian economy," Applied Econometrics, Publishing House "SINERGIA PRESS", vol. 2(2), pages 85-111.
- Frankel, Jeffrey, 2005.
"Contractionary Currency Crashes In Developing Countries,"
Working Paper Series
rwp05-017, Harvard University, John F. Kennedy School of Government.
- Jeffrey A. Frankel, 2005. "Contractionary Currency Crashes in Developing Countries," NBER Working Papers 11508, National Bureau of Economic Research, Inc.
- Bela Balassa, 1964. "The Purchasing-Power Parity Doctrine: A Reappraisal," Journal of Political Economy, University of Chicago Press, vol. 72, pages 584.
When requesting a correction, please mention this item's handle: RePEc:ris:apltrx:0152. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Anatoly Peresetsky)
If references are entirely missing, you can add them using this form.