Economics at your fingertips  

Money, barter and inflation in Russia

Byung-Yeon Kim, Jukka Pirttilä () and Jouko Rautava

No 15/2001, BOFIT Discussion Papers from Bank of Finland, Institute for Economies in Transition

Abstract: Using a macroeconometric framework, this paper analyses relationships among money, barter and inflation in Russia during the transition period.Following the development of a theoretical framework that introduces barter in a standard small open economy macro model, we estimate our model using structural cointegration and vector error correction methods.Our findings suggest that barter has resulted partly from output losses and partly from a reduction in real money balances, but to a lesser extent.There is some evidence that the effect of barter on prices is less than that of money.We also find that increases in barter are affected by banking failure.Our results imply that a macro model that excludes barter fails to capture all the relevant information for inference on money and inflation in Russia.

Date: 2001-07-10
References: Add references at CitEc
Citations: View citations in EconPapers (1) Track citations by RSS feed

Published in Published in Journal of Comparative Economics vol 32, no 2 (2004), pp. 297-314

Downloads: (external link) (application/pdf)

Related works:
Journal Article: Money, barter, and inflation in Russia (2004) Downloads
Working Paper: Money, Barter and Inflation in Russia (2002) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link:

Access Statistics for this paper

More papers in BOFIT Discussion Papers from Bank of Finland, Institute for Economies in Transition Bank of Finland, BOFIT, P.O. Box 160, FI-00101 Helsinki, Finland. Contact information at EDIRC.
Bibliographic data for series maintained by Minna Nyman ().

Page updated 2021-04-03
Handle: RePEc:bof:bofitp:2001_015