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.

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Year of publication:	2004
Authors:	Esanov, Akram ; Merkl, Christian ; Vinhas de Souza, Lúcio
Publisher:	Helsinki : Bank of Finland, Institute for Economies in Transition (BOFIT)
Subject:	Geldpolitik \| Regelgebundene Politik \| Inflationsbekämpfung \| Wechselkurspolitik \| Russland \| monetary policy rules \| exchange rate \| central bank \| Russia

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Series:	BOFIT Discussion Papers ; 11/2004
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
ISBN:	951-686-965-3
Other identifiers:	396709966 [GVK] hdl:10419/3256 [Handle] RePEc:zbw:bofitp:bdp2004_011 [RePEc]
Source:	EconStor

Persistent link: https://www.econbiz.de/10010283277