러시아ㆍ유라시아
연구정보
[경제] A Minimalist Model for the Ruble During the Russian Invasion of Ukraine
우크라이나 국외연구자료 연구보고서 - NBER 발간일 : 2022-04-06 등록일 : 2022-04-13 원문링크
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.
본 페이지에 등재된 자료는 운영기관(KIEP) 및 EMERiCs의 공식적인 입장을 대변하고 있지 않습니다.
| 이전글 | [국제관계] Russia’s Losing Hand in Ukraine | 2022-03-18 |
|---|---|---|
| 다음글 | [경제] Impacts of the Russian invasion of Ukraine on financial market conditions a... | 2022-06-17 |
