Valery, Chernookiy - EERC Research Network, Russia and CIS - 2005
Belarus and Russia. It is emphasized the role of real exchange rate in this process. An empirical analysis based on panel data … confirms the asymmetric effect of fuel price changes on the equilibrium real exchange rate in two countries. At the same time …, according to our estimates, real exchange rate changes affect significantly real output and its structure in Belarus. On the …