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Finance and Credit

37(565) - 2013 October

Modeling of Taylor rule for monetary policy in Russia: empirical analysis

Vol. 19, Iss. 37, OCTOBER 2013

Available online: 8 October 2013

Subject Heading: Financial market

JEL Classification:

Fedorova E.A. Doctor of Economic Sciences, Associate Professor, the Department of Financial Management, the Financial University under the Government of the Russian Federation
ecolena@mail.ru

Lysenkova A.V. Applicant of the Department of Financial Management, the Financial University under the Government of the Russian Federation
lysenkovaav@gmail.com

In the article by means of econometric modeling (model with Markov switching) research of a credit policy of the Russian Federation during the period from 2001 to 2011 on the basis of Taylor's rule is made. The assessment of policy of Bank of Russia with allocation of priorities of monetary policy is carried also out. New modification of the rule of Taylor, considering features of economy of the Russian Federation is offered.

Keywords: monetary policy, Taylor rule, Markov switching modes

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ISSN 2311-8709 (Online)
ISSN 2071-4688 (Print)

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April 2024