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The effect of the transfer dynamics of the ruble exchange rate in prices in Russian industries
[Эффект Переноса Динамики Обменного Курса Рубля В Цены В Российских Отраслях Промышленности]


  • Ponomarev, Yuri (Пономарев, Юрий)

    () (Gaidar Institute for Economic Policy)


This article analyzes the effect of the transfer dynamics of the ruble exchange rate in producer prices of industrial products in the Russian economy during the 2000-2014 period. To obtain estimates of the effect of the transfer, in the short and medium term at the level of various economic activities and identify the main determinants of this effect is used by the authors constructed a model error correction. The results show that the effect of transferring the exchange rate in producer prices in Russia is quite high, and the immediate "transfer" of exchange rate fluctuations in producer prices is fast enough. Thus there is considerable heterogeneity in the effect of the transfer of economic activity caused by varying degrees of use of imported goods as component parts and equipment.

Suggested Citation

  • Ponomarev, Yuri (Пономарев, Юрий), 2015. "The effect of the transfer dynamics of the ruble exchange rate in prices in Russian industries
    [Эффект Переноса Динамики Обменного Курса Рубля В Цены В Российских Отраслях Промышленности]
    ," Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 5, pages 53-70.
  • Handle: RePEc:rnp:ecopol:ep1558

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    References listed on IDEAS

    1. Vittorio Piazzi & Francesco Pagliacci & Margherita Russo, 2015. "Analisi cluster delle caratteristiche socio-economiche dei comuni dell'Emilia-Romagna: un confronto tra comuni dentro e fuori dal cratere del sisma," Center for the Analysis of Public Policies (CAPP) 0120, Universita di Modena e Reggio Emilia, Dipartimento di Economia "Marco Biagi".
    2. Florentino Rico Calvano & Andrés Villanueva Imitola, 2008. "Saneamiento de las finanzas distritales de Barranquilla, en ley 550 de 1999 periodo 2000- 2007," REVISTA PANORAMA ECONÓMICO 006194, UNIVERSIDAD DE CARTAGENA.
    3. Kurokawa, Yoshinori & Pang, Jiaren & Tang, Yao, 2016. "Exchange rate regimes and wage comovements in a Ricardian model with money," Journal of International Economics, Elsevier, vol. 102(C), pages 96-109.
    4. Maurice Obstfeld & Kenneth Rogoff, 2001. "The Six Major Puzzles in International Macroeconomics: Is There a Common Cause?," NBER Chapters,in: NBER Macroeconomics Annual 2000, Volume 15, pages 339-412 National Bureau of Economic Research, Inc.
    5. Mario Amendola, 1984. "Towards a Dynamic Analysis of the "Traverse"," Eastern Economic Journal, Eastern Economic Association, vol. 10(2), pages 203-210, Apr-Jun.
    6. Stanley W. Kardasz & Kenneth R. Stollery, 2001. "Exchange rate pass-through and its determinants in Canadian manufacturing industries," Canadian Journal of Economics, Canadian Economics Association, vol. 34(3), pages 719-738, August.
    7. Peter Ping Li, 2013. "Entrepreneurship as a new context for trust research," Journal of Trust Research, Taylor & Francis Journals, vol. 3(1), pages 1-10, April.
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    More about this item


    carryover effect; inflation; monetary policy; vector error correction model;

    JEL classification:

    • C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • F31 - International Economics - - International Finance - - - Foreign Exchange
    • F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics


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