Evolution Of Monetary Policy Instruments In Russia
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This paper analyzes the evolution of monetary policy in Russia, focusing on the period January 1992–December 1995. Special attention is given to the role of monetary policy instruments. Initially, policy was completely dominated by flows of credit from the Central Bank of the Russian Federation (CBR) to the budget, to enterprises, and to other republics in the ruble area. Over time these flows have been reduced and indirect monetary instruments have become key elements of monetary policy implementation
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This paper analyzes the evolution of monetary policy in Russia, focusing on the period January 1992–December 1995. Special attention is given to the role of m
This paper analyzes the evolution of monetary policy in Russia, focusing on the period January 1992-December 1995. Special attention is given to the role of mon
This Selected Issues paper on the Russian Federation underlies inflation persistence and evolution in response to structural shocks. Inflation in Russia has bee
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
During the post-Soviet period of 1992-98, the monetary policy of the Bank of Russia was essentially exchange rate-oriented due to overall economic and financial
