Денежно-кредитная политика России: дискуссионные вопросы формирования и реализации
Банковские услуги. 2015. № 5. С. 2-9.
Абрамова М. А., Криворучко С. В., Свирина Е. М.
, Вопросы экономики (Российская Федерация) 2017 № 4
This paper analyzes the basic parameters of monetary development in 2000-2015 in Russia. We provide the systematization of tools and objectives of monetary policy of the Bank of Russia and identify the periods of homogeneity of monetary policy regimes. On the basis of this research we develop the recommendations for further quantitative research aimed at ...
Added: April 13, 2017
, Nowcasting Russian GDP using forecast combination approach / . 2021. No. 68.
This paper presents a forecast combination approach for short-term assessment of economic growth in Russia. Our method significantly expands the existing domestic academic literature and embraces most advanced nowcasting techniques. The key feature of our approach is forecasting the growth rates of components GDP by expenditure using scenario indicators and a huge set of high-frequency ...
Added: May 11, 2021
, Экономика. Налоги. Право 2015 № 1 С. 100-106
The article analyzes the experience of two developed countries - New Zealand and Canada, which successfully carried out the transition to the inflation targeting regime in the conditions of macroeconomic instability expressed in the fall of GDP growth rate, unemployment growth and inflation. The purpose of the study is to demonstrate, on the example of ...
Added: May 22, 2018
, М. : НИЦ Инфра-М, 2015
Monograph by S. Khasyanova «Upgrading Banking Regulation and Supervision in Russia in the line with International Standards» is devoted to the study of the development of banking regulation and supervision in Russia on the basis of international principles and standards. The process of implementation of international principles and standards of banking regulation in the Russian ...
Added: December 16, 2015
, , Деньги и кредит 2015 № 12 С. 34-39
The paper is devoted to the information policy of the central banks. In particular, the authors consider regular and irregular communication channels of the Bank of Russia used for the transmission of information, and compare them to other countries with inflation targeting. Moreover, they discuss further improvement of the Bank of Russia’s transparency. ...
Added: December 4, 2015
, Банковское дело 2011 № 1 С. 59-62
The article analyzes the condition of the Russian financial markets in the light of the The main routes of the unified governmental monetary and credit policy for 2011-2013 years. ...
Added: December 14, 2012
, , Банковское дело 2015 № 4 С. 15-20
Inflation targeting implementation is unique in every country, even though it combines same structural elements. The individuality of the regime is expressed in the choice of monetary policy instruments, ways of assessing the economic and inflationary processes, forms of accountability to the government and society, targeting horizon and the desired level of inflation target, as ...
Added: May 22, 2018
Институциональные и инфраструктурные механизмы национальной платежной системы, взаимосвязанные с денежно-кредитной политикой
, , , Банковское дело 2014 № 7 С. 34-40
The article examines the relationship and interaction of monetary policy and national payment system elements. Particular attention is paid to the liquidity management process in central banks' payment systems. Authors show the case of efficient liquidity usage within a payment system of Bank of Russia, as well as the interaction between Bank of Russia monetary ...
Added: May 22, 2018
, Финансы и кредит 2018 Т. 24 № 3 (771) С. 709-721
Subject The article reviews current directions in the monetary and fiscal policies that affect economic processes. It systematizes approaches to organization of financial processes and implementation of measures to stimulate economic growth, which are used by developed countries. Objectives The study aims to systematize and perform a comparative analysis of focal points of major directions of monetary and ...
Added: August 18, 2021
, Журнал Новой экономической ассоциации 2011 № 9 С. 72-97
В работе предлагается формальный метод выявления предпочтений российского регулятора как на качественном, так и на количественном уровне. Основная идея заключается в том, чтобы по наблюдаемому поведению инструмента денежной политики (номинального обменного курса) сделать заключение о лежащих в основе этого поведения предпочтениях ЦБ. Для количественного анализа используется имитационная модель российской экономики. Метод основывается на включении в ...
Added: December 26, 2012
, , AlterEconomics (ранее - Журнал экономической теории) 2019 № 4 С. 654-672
This paper is devoted to the analysis of the Bank of Russia verbal interventions from 2014 to 2017 and relationship between verbal interventions and interest rates in Russian economy. As verbal interventions of the regulator, all statements made by officials of the Bank of Russia were examined, as well as statements by the press service ...
Added: October 23, 2019
, , , Вопросы экономики 2011 № 7 С. 79-100
Начиная с 2010 года вопросы развития розничных платежных систем в России стали активно обсуждаться широкой общественностью. Однако оценка возможных макроэкономических эффектов от развития розничных платежных систем в России осталась за рамками последней дискуссии. В нашем исследовании представлена систематизация позитивных эффектов, связанных с развитием безналичных платежей, а также проанализированы ключевые тенденции в замещении наличных средств платежа ...
Added: December 28, 2012
, , , Деньги и кредит 2021 № 80(1) С. 3-45
This research analyses regional heterogeneity in the reaction of core inflation to shocks of a single monetary policy on the example of Russia. We use a global vector autoregression model to estimate impulse response functions of core inflation in Russian regions to monetary policy shocks. The average 5-year cumulative response of regional core inflation to ...
Added: March 31, 2021
, , Monetary policy in an economy sick with Dutch Disease / ЦЭФИР и РЭШ. Series WP101-1 "Научные труды ЦЭФИР и РЭШ". 2007. No. 101.
The paper studies monetary policy in an economy, in which the manufacturing sector is ousted completely by the presence of a large natural resource industry. Thus, the economy produces only non-tradable goods, which can complement or substitute imported goods, and the primary shock to the economy comes from the ”uctuations in the world price of ...
Added: April 22, 2013
, , Деньги и кредит 2017 № 9 С. 48-54
The article studies the role of monetary analysis in inflation targeting and Bank of Russia’s monetary policy. We place emphasis on the approaches to inflation monetary risks estimation (these risks are caused by enhanced growth of monetary aggregates). We found out that currently money growth is not a key factor of inflation in Russian economy. ...
Added: August 24, 2017
Современные финансовые институты и рынки, их регулирование в кризисных условиях: международный опыт и российская практика
, , , Вестник Института экономики Российской академии наук 2021 № 2 С. 182-198
The article provides a review of the speeches of the participants of the thematic conference "Banks and Financial Markets" of the Fourth Russian Economic Congress (REC-2020), and links to previously published works of the speakers on the topic of the speeches, are given. The congress was timed to coincide with the 90th anniversary of the Institute of Economics of ...
Added: April 14, 2021
Влияние асимметричной жесткости цен на денежно-кредитную политику в открытой экономике и эмпирический анализ для ряда стран
, Влияние асимметричной жесткости цен на денежно-кредитную политику в открытой экономике и эмпирический анализ для ряда стран / Высшая школа экономики. Series WP9 "Исследования по экономике и финансам". 2008. No. 02.
We build a New Keynesian model of a small open economy and analyze the optimal monetary policy assuming symmetric and asymmetric price rigidity. We find that, in the presence of asymmetric price rigidity, inflationary and deflationary shocks should be treated asymmetrically, and the optimal direction of the asymmetry depends on the price rigidity and the ...
Added: March 18, 2013
, Problems of Economic Transition 2010 Vol. 53 No. 3 P. 26-44
Based on an analysis of exchange rates and industrial production in the world’s twenty-five largest economies during the current global crisis, the author challenges the commonly held concept that the absorption of exogenous shocks that stabilizes the real sector of the economy is one of the advantages of a free-floating exchange rate policy. The article ...
Added: April 12, 2013
Frontiers of Monetary Policy: Global Trends and Russian Inflation Targeting Practices (Review of the Book Advancing The Frontiers of Monetary Policy Ed. By T.Adrian, D.Laxton, M.Obstfeld)
, Деньги и кредит 2018 Vol. 77 No. 2 P. 95-100
The IMF published in April 2018 the book Advancing the Frontiers of Monetary Policy written by its experts and edited by Tobias Adrian, Douglas Laxton, and Maurice Obstfeld, providing a rare chance to learn the views of people who could be called the architects of inflation targeting. The book deals with practical issues of using ...
Added: April 18, 2022
Региональные эффекты таргетирования инфляции в России: факторы неоднородности и структурные уровни инфляции
, Вопросы экономики 2019 № 9 С. 70-89
Inflation targeting in Russia implies maintaining stable low inflation at a level of 4% throughout the country. The presence of structural factors in some regions can determine deviations from the all-Russian inflation, which can lead to different effects of monetary policy in Russian regions. In this paper, we analyze regional heterogeneity of inflation and factors ...
Added: March 10, 2020
, , Экономический журнал Высшей школы экономики 2018 Т. 22 № 2 С. 228-250
This paper measures the effects of the Russian Government and the Bank of Russia’s verbal interventions on the USD/RUB exchange rate. To take into account the verbal interventions by the Bank of Russia, we analyze the announcements made by the members of its Board of Directors and by the press-service. Concerning the communication policy of ...
Added: September 14, 2018
, Прикладная эконометрика 2016 Т. 43 № 3 С. 96-117
Implementation of inflation targeting by the Bank of Russia depends on the effectiveness of the chan-nels of monetary policy transmission mechanism. In this article we use a TVP-FAVAR model to examine the bank lending channel. This channel describes the connection between monetary policy impulses and the amount of bank loans that are among the main ...
Added: November 14, 2016
, Банковские услуги 2015 № 5 С. 14-18
This article is about forms of modern collateral in bank corporate loan system. Comparative analysis of qualitative characteristics and its impact on the activity of bank loan commitments' parties is given. ...
Added: October 27, 2016
Optimal monetary policy under incomplete pass-through and asymmetric price rigidity: The empirical evidence from Russia
, , in : Monetary Policy, Trade and Convergence. The Case of Transition Economies. : Berlin : LIT Verlag, 2009. P. 47-78.
The problem of optimal monetary policy is extremely relevant for Russia. Although the monetary authority claims that inflation targeting is the main goal of the monetary policy, empirical finding suggest that the real exchange rate targeting is of major importance (see Vdovichenko / Voronina 2004). Due to the rising flow of petrodollars, the rouble is ...
Added: August 1, 2013