Template-Type: ReDIF-Article 1.0
Author-Name: Alexey I. Balaev
Author-Email: abalaev@eeg.ru
Author-Workplace-Name: Economic Expert Group, Moscow 107031, Russia
Author-Name: Evsey T. Gurvich
Author-Email: egurvich@eeg.ru
Author-Workplace-Name: Economic Expert Group, Moscow 107031, Russia; Financial Research Institute, Moscow 127006, Russia
Author-Name: Ilya V. Prilepskiy
Author-Email: iprilepskiy@eeg.ru
Author-Workplace-Name: Economic Expert Group, Moscow 107031, Russia
Author-Name: Alexandra L. Suslina
Author-Email: asuslina@eeg.ru
Author-Workplace-Name: Economic Expert Group, Moscow, Russia
Title: Effect of Oil Price and Exchange Rate on the Fiscal Revenues
Abstract: High sensitivity of fiscal revenues to external conditions resulting from the Russian economy's dependence on commodity exports creates a major challenge for budget planning and execution. The paper studies the mechanisms determining the impact of oil prices and exchange rate on government revenues. This analysis provides quantitative estimates of adjustments in nominal and real (adjusted to changes in inflation) revenues caused by an increase and decrease of oil prices by 1 dollar per barrel and exchange rate by the 1 ruble per dollar taking into account both direct and indirect effects of these shocks.
Classification-JEL: H61, H68, G13
Keywords:  fiscal policy, budget revenues, oil price, exchange rate
Journal: Finansovyj žhurnal — Financial Journal
Pages: 5-16
Issue: 1
Year: 2014
Month: March
File-URL: http://www.nifi.ru/images/FILES/Journal/Archive/2014/1/01_1_2014.pdf
File-Format: Application/pdf
Handle: RePEc:fru:finjrn:140101:p:5-16