IDEAS home Printed from https://ideas.repec.org/h/spr/oprchp/978-3-030-48439-2_36.html
   My bibliography  Save this book chapter

Measuring Changes in Russian Monetary Policy: An Indexed-Based Approach

In: Operations Research Proceedings 2019

Author

Listed:
  • Nikolay Nenovsky

    (University of Picardie Jules Verne, CRIISEA
    National Research University Higher School of Economics)

  • Cornelia Sahling

    (Peoples’ Friendship University of Russia (RUDN University))

Abstract

Russia’s transition to a market economy was accompanied by several monetary regime changes of the Bank of Russia (BoR) and even different policy goals. In this context we should mention the transformation of the exchange rate regime from managed floating to free floating (since November 2014) and several changes of the monetary regimes (exchange rate targeting, monetary targeting, and inflation targeting). As a measurement of changes in Russian monetary policy in 2008–2018 we develop a Monetary policy index (MPI). We focus on key monetary policy instruments: interest rates (key rate, liquidity standing facilities and standing deposit facilities rates), amount of REPO operations, BoR foreign exchange operations and required reserve ratio on credit institutions` liabilities. Our investigation provides a practical contribution to the discussion of Russian monetary regimes by creating a new MPI adopted to the conditions in Russia and enlarges the discussion of appropriate monetary policy regimes in transition and emerging countries.

Suggested Citation

  • Nikolay Nenovsky & Cornelia Sahling, 2020. "Measuring Changes in Russian Monetary Policy: An Indexed-Based Approach," Operations Research Proceedings, in: Janis S. Neufeld & Udo Buscher & Rainer Lasch & Dominik Möst & Jörn Schönberger (ed.), Operations Research Proceedings 2019, pages 299-305, Springer.
    • Handle: RePEc:spr:oprchp:978-3-030-48439-2_36
    DOI: 10.1007/978-3-030-48439-2_36
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Other versions of this item:

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:oprchp:978-3-030-48439-2_36. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.