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A monetary policy rule for Russia, or is it rules?
(10.02.2016)
BOFIT Discussion Papers 2/2016
BOFIT Discussion Papers 2/2016
We estimate several monetary policy rules for Russia for the period 2003–2015. We find that the traditional Taylor rule describes the conduct of monetary policy in Russia reasonably well, whether coefficients are restricted ...
The pass-through to consumer prices in CIS economies: The role of exchange rates, commodities and other common factors
(04.11.2016)
BOFIT Discussion Papers 16/2016
BOFIT Discussion Papers 16/2016
This empirical study considers the pass-through of key nominal exchange rates and commodity prices to consumer prices in the Commonwealth of Independent States (CIS), taking into account the effect of idiosyncratic and ...
Monetary policy transmission with two exchange rates and a single currency : The Chinese experience
(21.10.2017)
BOFIT Discussion Papers 14/2017
BOFIT Discussion Papers 14/2017
In emerging market economies, transmission of monetary policy through the foreign exchange market is complicated by the coexistence of financial restrictions and arbitrages. Using China as an example, we show that the ...