Empirical analysis of monetary policy

Salmanov O.N.1
1 Московский областной государственный технологический университет (МГОТУ)

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Journal paper

Russian Journal of Entrepreneurship *
Volume 18, Number 18 (September 2017)
* Этот журнал не выпускается в Первом экономическом издательстве

Citation:

Salmanov, O. N. (2017). Empirical analysis of monetary policy. Russian Journal of Entrepreneurship, 18(18), 2599-2614. https://doi.org/10.18334/rp.18.18.38313

Abstract:
The article analyses the monetary policy of the Bank of Russia for the period 2003 – 2015. The aim of the article is to establish the conformity of the policy of regulator to the "monetary policy rule ", whether the policy conforms to this rule and to what extent. We also wanted to learn how recent changes in the country's economy have affected the econometric characteristics of the monetary policy. In order to do that, we use the models of "monetary policy rules" in various modifications. We assess the models using the generalized method of moments and give the analysis of empirical results.

Keywords: monetary policy, inflation targeting, Сentral Bank

JEL-classification: E50, E52, E58

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