Esanov, Akram
[Verfasser:in]
;
Merkl, Christian
[Sonstige Person, Familie und Körperschaft];
Vinhas de Souza, Lucio Vinhas
[Sonstige Person, Familie und Körperschaft]
Erschienen in:BOFIT Discussion Paper ; No. 11/2004
Umfang:
1 Online-Ressource (38 p)
Sprache:
Englisch
DOI:
10.2139/ssrn.1015232
Identifikator:
Entstehung:
Anmerkungen:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments June 17, 2004 erstellt
Beschreibung:
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