Implementation of Equilibrium-Price Model to the Estimation of Import Inflation
DOI:
https://doi.org/10.18533/ijbsr.v5i4.697Keywords:
Equilibrium-price model, gross output, gross value added, input-output table.Abstract
This study aims at investigating the the import inflationary processes as a result of feedbacks of mutual economic relations of World countries. It is used Equilibrium Price Model to estimate the import inflationary processes in CIS countries. The study investigates the further results regarding the import inflationary processes in the CIS countries on the scenario of increasing the Value Added norm in Russia. As well as by standpoint of economic growth and price stability, the recent revaluation of US dollar in the World and its impacts to total output of other countries have been investigated in details. In other words due to revaluation of the US dollar, if the final product decreases in USA, this decreasing impact how to be transmitted to the world countries have been estimated by the Input-Output Table in this study as well. The work is fulfilled on the Input-Output data for the year 2011. This study assumes theoretical and practical importance in defining the monetary policy.
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