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Институциональные и инфраструктурные механизмы национальной платежной системы, взаимосвязанные с денежно-кредитной политикой
Банковское дело. 2014. № 7. С. 34-40.
Криворучко С. В., Тамаров П. А., Свирина Е. М.
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 policy instruments and infrastructure of Moscow Exchange.
Keywords: денежно-кредитная политикаmonetary policyБанк РоссииBank of Russiaintraday liquidityfinancial market infrastructureRTGSBPPBsystematically important payments systemsmonetary policy instrumentsвнутридневная ликвидностьинфраструктура финансового рынкаRTGSBPPBсистемно-значимые платежные системыинструменты денежно-кредитной политики
Абрамова М. А., Криворучко С. В., Свирина Е. М., Банковские услуги 2015 № 5 С. 2-9
Приведены мнения экспертов по некоторым дискуссионным вопросам современной государственной денежно-кредитной политики России. Акценты сделаны на анализе целей деятельности Банка России в области денежно-кредитной политики, современного инструментария денежно-кредитного регулирования, вопросов применения режима таргетирования инфляции в России. ...
Added: May 22, 2018
Kosov M., 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
Свирина Е. М., 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
Khasyanova S. Y., 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
Karev M. G., 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
Колесникова Е. Н., 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
Pestova A., 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
Telegin O., Merzlyakov S., 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
Zhemkov M., / Bank of Russia. Series No. 68 / February 2021 "Bank of Russia Working Paper Series". 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
Evdokimova T., Zhirnov G., Экономическое развитие России 2020 Т. 27 № 1 С. 11-19
Since September 2019, the key rate of the Central Bank of Russia (CBR) has been in a range of 6–7%, which is viewed by the regulator as neutral. As the actual rate has entered the neutral range the adequacy of the current estimates has become particularly topical. Most external factors now speak in favor of ...
Added: November 21, 2022
Mamonov M. E., Pestova A., Солнцев О. Г., 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
Kuznetsova O., Ulyanova S., 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
Borzykh O., Могилат А. Н., 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
Напалков В. В., Novak A., Shulgin A. G., 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
Berlin : LIT Verlag, 2009
The historical changes in Central and Eastern Europe demanded suitable paths for the transition from centrally planned to market based economies. The lack of relevant experience added to the challenge, giving rise to the incalculable risks of implementing untested policies. By focusing on monetary policy, trade, and convergence, this volume addresses some of the most ...
Added: August 1, 2013
Borzykh O., 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
Kuznetsova O., Merzlyakov S., 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
Mamonov M. E., Pestova A., Солнцев О. Г., Вопросы экономики 2012 № 8 С. 4-31
The stability of Russian banking sector is threatened by three negative tendencies - overheating of the credit market, significant decrease of banks capital adequacy ratios, and growing problems associated with banks lending to affiliated non-financial corporations. The co-existence of these processes reflects the crisis of the model of private investments in Russian banking sector, which ...
Added: December 28, 2012
Zamulin O. A., Sosunov K. A., / 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
Novak A., Khvostova I., Кабаев В. Н., Финансовая аналитика: проблемы и решения 2012 № 47(137) С. 24-35
В статье проведены систематизация и анализ теорий выбора валютного режима для стран, либерализующих свою финансовую систему. Рассмотрены проблемы и варианты их преодоления в рамках различных валютных режимов. Авторы исследуют валютные привязки для пяти стран методом скользящей регрессии. Полученные траектории оценок коэффициентов позволили проследить изменение курса национальной валюты по отношению к изменению курса базовой валюты. Эмпирическая ...
Added: December 28, 2012
Dobrynskaya V. V., / 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
Свирина Е. М., Криворучко С. В., 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
Larionov A., / НИУ ВШЭ. Series WP BRP Series "Public and Social Policy". 2017. No. WP BRP 10/PSP/2017.
This research explores the utility of using strategic indicators to track the performance of the Bank of Russia. This approach is used in international practice and has demonstrated its positive effect. Nowadays, the Bank of Russia has introduced one key indicator, the size of inflation, which has proven to be highly effective in terms of ...
Added: September 1, 2017
Андрюшин С. А., Karminsky A. M., Андрюшин С. А., 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