Commodity Turnover: A Delayed Fall

Russian Economic Developments. Moscow, 2015, #12, pp. 64-66

3 Pages Posted: 11 Dec 2015 Last revised: 5 Jan 2016

See all articles by Georgy Idrisov

Georgy Idrisov

Gaidar Institute for Economic Policy

Yuriy Ponomarev

Russian Presidential Academy of National Economy and Public Administration (RANEPA) - Moscow Campus; Gaidar Institute for Economic Policy

Date Written: December 10, 2015

Abstract

In late 2014-early 2015, retail and wholesale trade, the one of the biggest sector of Russian economy , longer than others ‘put up resistance’ to the negative macroeconomic trends and showed an increase, however small, in commodity turnover. Meanwhile, in the autumn of 2015, in spite of a relative stabilization of Russian terms of trade and foreign exchange rate dynamics, commodity turnover in Russia experienced its sharpest downfall since 2000. This phenomenon is largely explained by the delayed pass-through effect of the ruble’s exchange rate fluctuations into commodity prices and by the gradual adaptation of households to new permanent income.

Keywords: Russian economy, trade turnover, pass-through effect, commodity prices

JEL Classification: F10, F13, F19

Suggested Citation

Idrisov, Georgy and Ponomarev, Yuriy, Commodity Turnover: A Delayed Fall (December 10, 2015). Russian Economic Developments. Moscow, 2015, #12, pp. 64-66, Available at SSRN: https://ssrn.com/abstract=2701757 or http://dx.doi.org/10.2139/ssrn.2701757

Georgy Idrisov (Contact Author)

Gaidar Institute for Economic Policy ( email )

Gazetny Lane 3-5
Moscow, 125993
Russia

Yuriy Ponomarev

Russian Presidential Academy of National Economy and Public Administration (RANEPA) - Moscow Campus ( email )

Moscow
Russia

Gaidar Institute for Economic Policy ( email )

3-5 Gazetny Lane
Moscow, 125009
Russia

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