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Monetary policy rules of the National Bank of Kazakhstan (in Russian)

Author

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  • Bulat Mukhamediyev

    (Al-Farabi Kazakh National University, Kazakhstan)

Abstract

The issue of monetary policy rules in Kazakhstan is studied. It is established that at each stage of economic development the National Bank used a certain rule. In particular, it is revealed that during the post-crisis period after reaching macroeconomic stability the short term interest rate, rather than the monetary base, was used as a monetary policy tool.

Suggested Citation

  • Bulat Mukhamediyev, 2007. "Monetary policy rules of the National Bank of Kazakhstan (in Russian)," Quantile, Quantile, issue 3, pages 91-106, September.
    • Handle: RePEc:qnt:quantl:y:2007:i:3:p:91-106
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    File URL: http://quantile.ru/03/03-BM.pdf
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    References listed on IDEAS

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    6. Bennett T. McCallum, 1993. "Specification and Analysis of a Monetary Policy Rule for Japan," Monetary and Economic Studies, Institute for Monetary and Economic Studies, Bank of Japan, vol. 11(2), pages 1-45, December.
    7. Jihane Masry & Marc Bonnet & Patrick Tabchoury, 2018. "Action research in a Family Business: Example of a Qualimetrics Intervention - Research Carried out in a Small Family Company in the Middle- East," Post-Print hal-01907945, HAL.
    8. John B. Taylor, 1999. "Monetary Policy Rules," NBER Books, National Bureau of Economic Research, Inc, number tayl99-1.
    9. Kydland, Finn E & Prescott, Edward C, 1977. "Rules Rather Than Discretion: The Inconsistency of Optimal Plans," Journal of Political Economy, University of Chicago Press, vol. 85(3), pages 473-491, June.
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    Cited by:

    1. Mohamed El-Hodiri & Bulat Mukhamediyev, 2014. "Monetary Policy Rules in Some Transition Economies," Eurasian Journal of Economics and Finance, Eurasian Publications, vol. 2(3), pages 26-44.

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    More about this item

    Keywords

    Kazakhstan; monetary policy rule; interest rate; monetary base;
    All these keywords.

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes

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