The aim of this work is to conduct a comprehensive analysis of the influence of factors on the dynamics of the real exchange rate. Firstly, the basic theoretical and empirical models of the real exchange rate are studied, key factors of its short- and long-term changes are identified, including...

This paper deals with Russia's monetary policy in 2013

The key factor in the strengthening of the real exchange rate of the ruble in the 2000s was the transformation based growth of Russia’s economy (the Balassa–Samuelson eff ect) coupled with the improving foreign trade conditions. As can be concluded on the basis of data for Q4 2014, for the...

The goal of this work is to conduct a comprehensive analysis of the role of Bank of Russia in the formation of money supply, taking into account internal and external factors that determine the development of the economy. First, we examined base theoretical and empirical models of money supply...

At the end of Q1 2023, the current account surplus shrank almost 4 times compared to Q1 2022 as a result of a reduction in the value of exports and sanctions restrictions. The financial account deficit was shaped influenced by the reduction of foreign liabilities of all sectors of the economy...

As of Q2-end 2022, the current account surplus went up 4.1-fold compared to the same period of the last year on the back of growth in the value of Russian exports amid high prices for commodities and reduction of imports under the sanctions. The deficit of the financial account of the balance of...

Based on the results of Q3 2022, the current account surplus fell by 32% as compared to Q2 2022 owing to a gradual reduction in exports in value terms and a pickup in imports amid sanctions and establishment of alternative sources of supplies. In Q3 2022, the deficit of the financial account...

In 2022, the Russian economy experienced a profound negative shock associated with the imposition of sanctions against Russia by a number of developed countries, including the freeze of the Bank of Russia’s international reserve assets, Russian banks being cut out of international payment...

The Bank of Russia's decision to reduce the key rate by 0.50 pp to 6.5% was caused by an inflation slowdown to 3.8% in October 2019 relative to October 2018, with a high probability of its continuing downward movement. In this connection, the Bank of Russia has revised its inflation projections...

In Q3 2019, Russia's trade surplus fell significantly due to a declining value volume of exports coupled with a slight growth in imports. Net capital outflow from the private sector was caused by the banking sector's foreign liabilities shrinking at a faster rate than that of its foreign assets....