全球智库信息集成服务系统(G2TT): A Minimalist Model for the Ruble During the Russian Invasion of Ukraine

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w29929
来源ID	Working Paper 29929
	A Minimalist Model for the Ruble During the Russian Invasion of Ukraine
	Guido Lorenzoni; Iván Werning
发表日期	2022-04-11
出版年	2022
语种	英语
摘要	This note isolates an overlooked economic force for the Ruble to appreciate in response to international sanctions limiting exports to Russia. The economic intuition is that when Russians are unable to buy the mix of foreign goods they wish, then foreign goods becomes less attractive, increasing the demand for domestic goods; to reestablish an equilibrium a real appreciation is needed to raise the relative price of domestic goods and incentivizing the accumulation of foreign assets and the import from non-sanctioning countries. We also review well-known forces for a depreciation (e.g. Russian export reduction). Our analysis emphasizes that the exchange rate is an inadequate signal of welfare impacts and the effectiveness of sanctions.
主题	Macroeconomics ; International Economics ; International Finance ; International Macroeconomics ; Globalization and International Relations
URL	https://www.nber.org/papers/w29929
来源智库	National Bureau of Economic Research (United States)
引用统计
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/587602
推荐引用方式 GB/T 7714	Guido Lorenzoni,Iván Werning. A Minimalist Model for the Ruble During the Russian Invasion of Ukraine. 2022.

条目包含的文件
文件名称/大小	资源类型	版本类型	开放类型	使用许可
w29929.pdf（159KB）	智库出版物		限制开放	CC BY-NC-SA	浏览