Modeling of the interest rate policy of the central bank of Russia

This paper investigates interactions among money supply, exchange rates, inflation, and nominal interest rates, which are regulating parameters of the Central bank policy. The study is based on the data received from Russian source in 2002-2016. The major findings are 1) the interest rate demonstrat...

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Main Authors: Shelomentsev, A. G., Berg, D. B., Detkov, A. A., Rylova, A. P.
Format: Conference Proceeding
Language:English
Subjects:
Central banks
Dynamic models
Economic models
Inflation
Interest rates
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Berg, D. B.
Detkov, A. A.
Rylova, A. P.
description This paper investigates interactions among money supply, exchange rates, inflation, and nominal interest rates, which are regulating parameters of the Central bank policy. The study is based on the data received from Russian source in 2002-2016. The major findings are 1) the interest rate demonstrates almost no relation with inflation; 2) ties of money supply and the nominal interest rate are strong; 3) money supply and inflation show meaningful relations only in comparison to their growth rates. We have developed a dynamic model, which can be used in forecasting of macroeconomic processes.
doi_str_mv 10.1063/1.5012332
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source American Institute of Physics:Jisc Collections:Transitional Journals Agreement 2021-23 (Reading list)
subjects Central banks
Dynamic models
Economic models
Inflation
Interest rates
title Modeling of the interest rate policy of the central bank of Russia
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