Monetary policy rules for Russia

Journal article

Publication Details

Author(s): Merkl C, Vinhas de Souza L, Esanov A
Journal: Journal of Comparative Economics
Publisher: Elsevier
Publication year: 2005
Volume: 33
Journal issue: 3
Pages range: 484-499
ISSN: 0147-5967
Language: English


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.

FAU Authors / FAU Editors

Merkl, Christian Prof. Dr.
Lehrstuhl für Volkswirtschaftslehre, insbesondere Makroökonomik

How to cite

Merkl, C., Vinhas de Souza, L., & Esanov, A. (2005). Monetary policy rules for Russia. Journal of Comparative Economics, 33(3), 484-499.

Merkl, Christian, Lucio Vinhas de Souza, and Akram Esanov. "Monetary policy rules for Russia." Journal of Comparative Economics 33.3 (2005): 484-499.


Last updated on 2018-19-04 at 03:09