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Title:A preliminary evaluation of monetary policy rules for Russia PDF Logo
Authors:Esanov, Akram
Merkl, Christian
Vinhas de Souza, Lúcio
Issue Date:2004
Citation:[Series:] Kiel working paper [Editor:] Institut für Weltwirtschaft, Kiel [No.:] 1201
Series/Report no.:Kieler Arbeitspapiere 1201
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.
Subjects:Monetary policy rules , exchange rate , central bank , Russia
JEL:F41
F33
E52
E61
Document Type:Working Paper
Appears in Collections:Publikationen von Forscherinnen und Forschern des IfW
Kieler Arbeitspapiere, IfW

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