debt/GDP and its macroeconomic determinants (such as primary balance/GDP, real GDP, the inflation rate and the average … causal relationship moving from the primary balance to the real growth rate, as well as a clear influence of the inflation on …

the Bank of Russia acts as if it had two conflicting targets: inflation stabilization and low real exchange rate, or … for forecasting the medium run dynamics of inflation and nominal exchange rate. It is also shown that commonly used … quadratic loss function that models inflation and real sector stabilization is not relevant in depicting the Bank’s behavior. …

We perform an econometric analysis of cointegration of the Brent oil price and general and industrial indices of the …. It is interesting to note that a cointegration between the oil price and industrial RTS index is not detected. A … cointegration between the oil price and the general indices is found both for the RTS and the MICEX, and in both cases it is …