Korhonen, Iikka; Nuutilainen, Riikka - 2021
We estimate several monetary policy rules for Russia for the period 2003–2015. We find that the traditional Taylor rule … describes the conduct of monetary policy in Russia reasonably well, whether coefficients are restricted to being the same or … allowed to change over the sample period. We find that the Bank of Russia often overshot its inflation target and that …