This paper analyses the persistence of inflation in post-communist Russia, with interest rate, exchange rate, and money supply as key arguments. The paper then derives a monetary policy feedback rule, which has been used to show empirically in the context of Russia that the official interest...

Today's global economy, with most developed nations experiencing very low inflation, seems a world apart from the "Great Inflation" that spanned the late 1960s to early 1980s. Yet, in this book, Brigitte Granville makes the case that monetary economists and policymakers need to keep the lessons...