The 27th SUERF Colloquium in Munich in June 2008: New Trends in Asset Management: Exploring the Implications was already topical in the Summer of 2008. The subsequent dramatic events in the Autumn of 2008 made the presentations in Munich even more relevant to investors and bankers that want to...

This paper seeks to determine the optimal volume of international currency reserves of the Bank of Russia to prevent adverse fluctuations of the Russian ruble exchange rate, causing a threat to financial stability. We create a system of models, taking into account the linkages between the...

This paper presents the empirical evidence of how exchange rate volatility affects the flow of export trade. The estimation of this relationship is complicated, due to the endogeneity between exchange rate volatility and trade. To mitigate this issue, I introduce an instrumental variable to the...