Network structure of the economy and the propagation of monetary shocks

Elena Deryugina, Andrey Leonidov (), Alexey Ponomarenko, Stanislav Radionov () and Ekaterina Vasilyeva ()
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Andrey Leonidov: Lebedev Physical Institute, Russian Federation
Stanislav Radionov: Lebedev Physical Institute, Russian Federation
Ekaterina Vasilyeva: Lebedev Physical Institute, Russian Federation

No wps130, Bank of Russia Working Paper Series from Bank of Russia

Abstract: We calibrate a network model and monetary shocks based on empirical data from inputoutput tables for the Russian economy. We examine various aspects of the propagation of monetary shocks, such as the dispersion of relative prices and the local peak values of the aggregated price index achieved during the convergence to the new equilibrium. We show that these developments depend significantly on the way new money is injected into the economy.

Keywords: money supply; inflation; Cantillion effects; networks; input-output tables (search for similar items in EconPapers)
JEL-codes: C63 C67 D57 E31 E51 (search for similar items in EconPapers)
Pages: 24 pages
Date: 2024-07
New Economics Papers: this item is included in nep-cba, nep-mon and nep-net
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