This paper provides a Vector Auto-Regression (VAR) analysis of inflation and monetary policy. It identifies monetary policy shocks in a benchmark recursive structure of VARs with two alternative inflation measures, viz., headline WPI and core inflation measure. Unlike the results in case of WPI,...

Most studies for the monetary policy effect on stock markets have concentrated on using the primary index to proxy the stock market. The present paper, avoiding 'aggregation bias', seeks to unbundle the effect of monetary policy on the stock market in two ways. First, the non-linear model is...

The article provides estimates of short-run and medium-run exchange rate pass-through into domestic prices in Russia during the period of 2000–2012 using vector error correction model. Exchange rate pass-through asymmetry estimates, its assessments on different sub-periods and exchange rate...