Abstract
This paper examines the impact of terms of trade news shocks on the dynamics of output, consumption, investment, trade balance and exchange rate in Russia. News in recent work are understood as the emergence of information about future changes in the economy. To identify expected shocks, we maximize the forecast error variance share of terms of trade time series over a finite horizon of several quarters. The results indicate that news shocks have a significant effect on the Russian economy and explain almost 60% of the variance of the main indicators.
Full Text 
Sign-in/Register to access full text options
Sign-in/Register to access full text options 
Paper version not known
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a call
