The Evolution of Theory and Practice of Monetary Policy as a Result of the Global Economic Crisis

Sergey Drobyshevsky and Pavel Trunin

Journal of the New Economic Association, 2014, vol. 24, issue 4, 141-158

Abstract: The authors analyze the evolution of global ideas on the optimal monetary policy in the aftermath of the global economic crisis. The authors provide the basic principles of the pre-crisis monetary policy and show that after the crisis, they have not changed fundamentally. It is also argued that some lessons of the global crisis are relevant for the monetary policy of the Bank of Russia, as well as some of the classic principles of effective monetary policy.

Keywords: monetary policy; Bank of Russia; global economic crisis; inflation; quantitative easing; credit bubble (search for similar items in EconPapers)
JEL-codes: B22 E52 E58 (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:nea:journl:y:2014:i:24:p:141-158

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