Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/3193
Authors: 
Esanov, Akram
Merkl, Christian
Vinhas de Souza, Lúcio
Year of Publication: 
2004
Series/Report no.: 
Kiel Working Paper 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

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