On the fundamental Deficiencies of Current monetary Policy

Autor:	O. Solntsev, A. Apokin, D. Belousov, I. Ipatova, I. Goloshchapova
Rok vydání:	2014
Předmět:	Macroeconomics Economics and Econometrics Inflation targeting media_common.quotation_subject Monetary policy Monetary economics Monetary hegemony Forward guidance Credit channel Output gap Economics Monetary base Duty Finance media_common
Zdroj:	Voprosy Ekonomiki. :80-100
ISSN:	0042-8736
DOI:	10.32609/0042-8736-2014-12-80-100
Popis:	We outline three main shortcomings of current monetary policy in Russia for 2014. First, monetary policy is too strict: we estimate output gap over -3% potential GDP, and rule-based key rate is 6,25%. Second, Bank of Russia in 2014 clearly ignores its second goal of promoting stable and developing financial system. Third, today economic agents lack for clear expectations of monetary policy rules, and it is Bank of Russia’s duty to help forming these expectations - both through public commitments and independent monetary policy review.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::db14fea7c0b910d3b7fa95208fbc0392 https://doi.org/10.32609/0042-8736-2014-12-80-100 Zobrazit plný text záznamu