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Retail sales of durable goods, inventories and imports after large devaluations

Valery Charnavoki

Journal of Economic Dynamics and Control, 2019, vol. 108, issue C

Abstract: This paper presents a general equilibrium model of a small open economy with monopolistically competitive retailers, inventories and durable goods. Following large devaluations, this model generates a collapse of imports, a fall of retail sales and inventories and a gradual increase in retail prices. Besides, the model provides an explanation for a short-lived spike in retail sales of durable goods observed during the recent devaluation episode in Russia in December of 2014.

Keywords: Durable goods; Inventories; Retail sales; Small open economy (search for similar items in EconPapers)
JEL-codes: D92 E21 F41 F44 L81 (search for similar items in EconPapers)
Date: 2019
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Working Paper: Retail Sales of Durable Goods, Inventories and Imports after Large Devaluations (2017) Downloads
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DOI: 10.1016/j.jedc.2019.103765

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Journal of Economic Dynamics and Control is currently edited by J. Bullard, C. Chiarella, H. Dawid, C. H. Hommes, P. Klein and C. Otrok

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