Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/47067 
Kompletter Metadatensatz
DublinCore-FeldWertSprache
dc.contributor.authorBuch, Claudia M.en
dc.date.accessioned2011-06-30T15:11:26Z-
dc.date.available2011-06-30T15:11:26Z-
dc.date.issued1996-
dc.identifier.citation|nInstitut für Weltwirtschaft (IfW) |lKiel |y1996en
dc.identifier.urihttp://hdl.handle.net/10419/47067-
dc.description.abstractSince early 1995, monetary stabilization has gradually been achieved in Russia. Extremely high real interest rate have been maintained throughout autumn 1996, an exchange rate target has been adhered to since mid-1995, auctions of Central Bank credit have gained in importance, and subsidized lending has been cut down. However, the conduct of monetary policy remains a trial-and-error process: Indirect budget financing through the CBR still occurs, the fixed exchange rate regime has caused a lack of control over the monetary base, and the money multiplier is relatively unstable. Preliminary empirical evidence shows that money demand has remained relatively stable since the beginning of reforms. Still, short-run fluctuations of money demand are substantial, and further portfolio adjustments are likely if inflationary expectations decline and if the capital account becomes more open. The success of monetary stabilization crucially depends on the effectiveness with which the CBR can defend its independence. Because financial sector stability is an important condition for a predictable and stable monetary policy, further measures to restructure and to consolidate the banking sector need to be pursued in parallel to structural reforms of the Russian economy.en
dc.language.isoengen
dc.publisher|aKiel Institute of World Economics (IfW) |cKielen
dc.relation.ispartofseries|aKiel Working Paper |x786en
dc.subject.jelE5en
dc.subject.jelP42en
dc.subject.ddc330en
dc.subject.keywordmonetary policyen
dc.subject.keywordcentral banking and the supply of money and crediten
dc.subject.keywordplanning, coordination, and reformen
dc.subject.keywordRussiaen
dc.subject.stwGeldpolitiken
dc.subject.stwÜbergangswirtschaften
dc.subject.stwGeldangeboten
dc.subject.stwGeldnachfrageen
dc.subject.stwRusslanden
dc.titleRussian monetary policy: Assessing the track record-
dc.typeWorking Paperen
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:ifwkwp:786en
dc.identifier.printppn257881336en
dc.date.issuedonline2011en
dc.publisher.online|aZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften, Leibniz-Informationszentrum Wirtschaft |cKiel, Hamburgen
econstor.documentversionDigitized Versionen
econstor.citation.publisherInstitut für Weltwirtschaft (IfW)en
econstor.citation.publisherplaceKielen
econstor.citation.year1996en

Datei(en):
Datei
Größe
1.69 MB





Publikationen in EconStor sind urheberrechtlich geschützt.