Template-Type: ReDIF-Paper 1.0

Author-Name: Elena Deryugina
Author-Email: DeryuginaEB@cbr.ru
Author-Workplace-Name: Bank of Russia, Russian Federation

Author-Name: Andrey Leonidov
Author-Email: leonidovav@lebedev.ru
Author-Workplace-Name: Lebedev Physical Institute, Russian Federation

Author-Name: Alexey Ponomarenko
Author-Email: PonomarenkoAA@cbr.ru
Author-Workplace-Name: Bank of Russia, Russian Federation

Author-Name: Stanislav Radionov
Author-Email: saradionov@edu.hse.ru
Author-Workplace-Name: Lebedev Physical Institute, Russian Federation

Author-Name: Ekaterina Vasilyeva
Author-Email: serebryannikovaee@lebedev.ru
Author-Workplace-Name: Lebedev Physical Institute, Russian Federation





Title: Network structure of the economy and the propagation of monetary shocks

Abstract: We calibrate a network model and monetary shocks based on empirical data from 
inputoutput tables for the Russian economy. We examine various aspects of the propagation of
monetary shocks, such as the dispersion of relative prices and the local peak values of the
aggregated price index achieved during the convergence to the new equilibrium. We show that
these developments depend significantly on the way new money is injected into the economy.


Length: 24 pages
Creation-Date: 2024-07
Revision-Date:
Publication-Status:
File-URL: https://www.cbr.ru/StaticHtml/File/162154/wp_130.pdf
File-Format: Application/pdf
File-Function:
Number: wps130
Classification-JEL: C63, C67, D57, E31, E51
Keywords: money supply, inflation, Cantillion effects, networks, input-output tables
Handle:RePEc:bkr:wpaper:wps130