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Regular version of the site
Of all publications in the section: 4
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Article
Sokolov V. Review of International Economics. 2012. Vol. 20. No. 4. P. 707-722.
This paper examines how the 2005 shift in Russian exchange rate policy from US dollar (USD) single-currency to USD-EUR (euro) bi-currency targeting has impacted domestic interest rates. The finding show that this policy shift has disconnected Russian interest rates from US dollar-denominated interest rates, while instead linking them to a synthetic interest rate composed of USD and EUR rates at the same proportion as that of these two currencies in the currency basket against which the ruble's exchange rate is set. The Russian experience shows that while the adoption of bi-currency targeting may help ensure that domestic interest rates are less dependent on the monetary cycle of a single country, these rates are instead likely to reflect financial developments in all countries whose currencies are included in the currency basket. This insight is likely to be relevant for other countries that pursue basket-targeting policies.
Added: Nov 16, 2012
Article
Dobrynskaya V. V. Review of International Economics. 2015. Vol. 23. No. 2. P. 345-360.
Added: Mar 23, 2015
Article
Zakharenko R., Stark O. Review of International Economics. 2012. Vol. 20. No. 4. P. 657-673.
Added: Nov 19, 2012
Article
Hepenstrick C., Tarasov A. Review of International Economics. 2015. Vol. 23. No. 2. P. 271-302.

This paper asks how variations in trade openness contribute to cross-country income differences. We approach this question using counterfactual experiments within a quantified general equilibrium model of trade. We find that trade costs gain their relevance only by amplifying the effects of existing differences in endowments, population sizes and technologies. If, for example, market entry costs were the same in all countries, inequality would be about 13% lower. Variable trade costs are found to have a similar effect. In contrast, if countries differed only by their degree of trade openness, the resulting variance of per capita income would be negligible.

Added: Oct 2, 2015