A preliminary evaluation of monetary policy rules for Russia
A preliminary evaluation of monetary policy rules for Russia
The paper reviews the recent conduct of monetary policy and the central bank's rule-based behavior in Russia. Using different policy rules, we test whether the central bank in Russia reacts to changes in inflation, output gap and the exchange rate in a consistent and predictable manner. Our results indicate that during the period of 1993-2002 the Bank of Russia has used monetary aggregates as a main policy instrument in conducting monetary policy.
- Institute for World Economics Hungary
Geldmengensteuerung, Geldpolitik, ddc:330, Monetary policy rules; exchange rate; central bank; Russia, exchange rate, Russia, E61, Russland, F33, Geldpolitisches Ziel, Regelgebundene Politik, E52, F41, Monetary policy rules, central bank, jel: jel:E61, jel: jel:E52, jel: jel:F41, jel: jel:F33
Geldmengensteuerung, Geldpolitik, ddc:330, Monetary policy rules; exchange rate; central bank; Russia, exchange rate, Russia, E61, Russland, F33, Geldpolitisches Ziel, Regelgebundene Politik, E52, F41, Monetary policy rules, central bank, jel: jel:E61, jel: jel:E52, jel: jel:F41, jel: jel:F33
selected citations These citations are derived from selected sources.This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).0 popularity This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.Average influence This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).Average impulse This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.Average
Citations provided by BIP!Popularity provided by BIP!