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The Degree of Import Price Rigidity with Respect to Exchange Rate Fluctuations and Importing Firm Characteristics in Russian Economy

Влияние колебаний обменного курса и характеристик фирм импортеров на степень жесткости цен импортных товаров в России

Yury Pleskachev and Yuriy Ponomarev

Working Papers from Russian Presidential Academy of National Economy and Public Administration

Abstract: The main purpose of the research study is assessment of the degree of import price rigidity with respect to exchange rate fluctuations and importing firm characteristics in Russian economy. Exchange rate pass-through in economy starts with the import prices. Empirical results show significant difference in import price rigidity depending on firms and goods characteristics. Using micro data on import to Russia from 2002 to 2015 allowed obtaining estimates that were not reported in the previous literature. This paper documents dependence of import price rigidity with respect to the exchange rate fluctuations form the degree of processing and firm characteristics. Import price rigidity is higher for manufactured products elaborately transformed, for goods, denominated in home currency, for goods with lower frequency of price changes and for the firms with higher market share. Empirical estimates based on micro data also allowed to document the dependence of import price rigidity from the economic sector and compare results with international literature.

Pages: 102 pages
Date: 2017-03
New Economics Papers: this item is included in nep-bec, nep-cis, nep-cse, nep-dcm, nep-mac, nep-opm and nep-tra
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Handle: RePEc:rnp:wpaper:031706