Data for: The nexus between oil price and Russia's real exchange rate: Better paths via unconditional vs conditional analysis

Abstract of associated article: Instead of analyzing the causality between two time series (unconditional analysis), as it is usually done, the present study deals with the nexus between oil price and Russia's real exchange rate conditioning upon potential control variables at well-specified horizons and on a frequency by frequency basis. This research accounts also for the possible transient linkages and signal discontinuities.

A major finding of this paper is deeply suggestive of a sharp causality running from oil price to real exchange rate in lower frequencies. This implies that Russia should better tackle with turbulence triggered by oil price and continue to reduce its energy dependency via drastic and proactive measures. The economic and fiscal initiatives of Putin administration may help to cope with sudden shocks, to lessen the great oil dependence and to build confidence needed for economic recovery.