Showing 1 - 10 of 11
This study examines the expanding role of fiscal policy at a time of financial crisis. It analyses the stimulative fiscal measures of the Russian government in 2008-2010 and compares these with similar actions taken in other countries. The risks and limitations associated with the development...
Persistent link: https://www.econbiz.de/10013138901
Persistent link: https://www.econbiz.de/10003988414
Persistent link: https://www.econbiz.de/10003988418
Persistent link: https://www.econbiz.de/10009267596
Persistent link: https://www.econbiz.de/10010500632
Persistent link: https://www.econbiz.de/10011867156
Persistent link: https://www.econbiz.de/10011561264
We apply an econometric approach developed specifically to address the ‘curse of dimensionality' in Russian data and estimate a Bayesian vector autoregression model comprising 14 major domestic real, price and monetary macroeconomic indicators as well as external sector variables. We conduct...
Persistent link: https://www.econbiz.de/10013003074
This article presents three alternative models for decomposing loan developments into components associated with changes in loan demand and supply fundamentals. Two models are based on macro data (error correction model and structural vector autoregression with sign restrictions) and one is...
Persistent link: https://www.econbiz.de/10013026124
We examine the drivers behind loan supply fluctuations in Russia using Bayesian vector autoregressive model with sign restrictions on impulse response functions. We identify two types of structural innovations: loan supply shock and monetary stance shock. We find that contractionary shocks of...
Persistent link: https://www.econbiz.de/10013121273