of the nominal money supply and keeping inflation under control. Continuation of such policy would mean independence of …

"). Conceptual issues of governing inflation are studied in the first part of the book. Then investigated are the pivotal aspects of … interrelationship between price dynamics and imbalances of the reproduction process, such as economic growth and inflation, structural … causes of inflation, current price trends on the world commodity markets, export and import of inflation into open economies …

in the paper.I support the idea that transition to inflation targeting in 2014 was a key factor ensuring that …

the Bank of Russia acts as if it had two conflicting targets: inflation stabilization and low real exchange rate, or … for forecasting the medium run dynamics of inflation and nominal exchange rate. It is also shown that commonly used … quadratic loss function that models inflation and real sector stabilization is not relevant in depicting the Bank’s behavior. …