Social Sciences
8 years ago

Russian Economy Achieves Stability Through Innovative Monetary Policy Model.

Journal of the New Economic Association
Monetary Stabilization: Modeling and Estimation for Russian Economy in 2004-2012
Irina Khvostova, A Novák

Paper Summary

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The article analyzes how Russia managed its money from 2004 to 2012. It uses a model to show how the country's money situation changed over time, especially during crises. The researchers found that the Central Bank's international reserves played a big role in stabilizing the money and exchange rates. They used special techniques to estimate the differences in the Central Bank's decisions before and after crises.