A preliminary evaluation of monetary policy rules for Russia

Akram Esanov, Christian Merkl and Lucio Vinhas de Souza

No 1201, Kiel Working Papers from Kiel Institute for the World Economy (IfW Kiel)

Abstract: The paper reviews the recent conduct of monetary policy and the central bank's rule-based behavior in Russia. Using different policy rules, we test whether the central bank in Russia reacts to changes in inflation, output gap and the exchange rate in a consistent and predictable manner. Our results indicate that during the period of 1993-2002 the Bank of Russia has used monetary aggregates as a main policy instrument in conducting monetary policy.

Keywords: Monetary policy rules; exchange rate; central bank; Russia (search for similar items in EconPapers)
JEL-codes: E52 E61 F33 F41 (search for similar items in EconPapers)
Date: 2004
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (6)

Downloads: (external link)
https://www.econstor.eu/bitstream/10419/3193/1/kap1201.pdf (application/pdf)

Related works:
Working Paper: A Preliminary Evaluation of Monetary Policy Rules for Russia (2004)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:zbw:ifwkwp:1201

Access Statistics for this paper

More papers in Kiel Working Papers from Kiel Institute for the World Economy (IfW Kiel) Contact information at EDIRC.
Bibliographic data for series maintained by ZBW - Leibniz Information Centre for Economics ().