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Retail Sales of Durable Goods, Inventories and Imports after Large Devaluations

Valery Charnavoki

No 402, 2017 Meeting Papers from Society for Economic Dynamics

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 allows to explain a short-lived spike in retail sales of durable goods, observed during the recent devaluation episode in Russia in December of 2014.

Date: 2017
New Economics Papers: this item is included in nep-cis and nep-dge
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Journal Article: Retail sales of durable goods, inventories and imports after large devaluations (2019) Downloads
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