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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]

Author

Listed:
  • Ponomarev, Yuri (Пономарев, Юрий)

    (Gaidar Institute for Economic Policy)

Abstract

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]," Ekonomicheskaya Politika / 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

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    More about this item

    Keywords

    carryover effect; inflation; monetary policy; vector error correction model;
    All these keywords.

    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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