Home  Journals  Financial Analytics: Science and Experience  5(191) - 2014 February

An empirical analysis of monetary rule for Russian economy

Available online: 7 February 2014

Subject Heading: EXCHANGE MARKET

JEL Classification: 

Using a simple model of the monetary sphere for countries vulnerable to external economic shocks, the author on the basis of the data of the Russian economy from 2004 to 2012, conducted an empirical analysis of the monetary policy of the Central Bank of the Russian Federation with regard to the role of international reserves. Empirical analysis is carried out with Bayesian techniques. Estimation shows nonlinear common dynamics of exchange rate and the volume of international reserves.

Keywords: monetary rule, Bayesian estimation, course, use, equation, politic, model, ratio, economy, evolution

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ISSN 2311-8768 (Online)
ISSN 2073-4484 (Print)

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