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The Bank of Russia at a Crossroads: Whether to Ease Monetary Policy?

Eugene Goryunov and Pavel Trunin

Published Papers from Russian Presidential Academy of National Economy and Public Administration

Abstract: The position of supporters of the policy easing by the Bank of Russia is the following: if the monetary authorities of developed countries abandon their principles, then why do they rely on Russia? Is it not better instead to do exactly what the central banks in the US, UK, Japan and the euro area do - to stimulate economic growth by quantitative easing? According to adherents of monetary policy easing, it is necessary to turn the Bank of Russia into the institute of development, making it one of the investors of economic growth. Furthermore, it should be included in the process of creating "long cheap money", as it occurs in the US and the European Union.

Keywords: Russian economy; Bank of Russia; monetary policy; quantitative easing (search for similar items in EconPapers)
JEL-codes: E31 E43 E44 E51 E52 E58 (search for similar items in EconPapers)
Date: 2013
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