This paper presents the empirical evidence of how exchange rate volatility affects the flow of export trade. The estimation of this relationship is complicated, due to the endogeneity between exchange rate volatility and trade. To mitigate this issue, I introduce an instrumental variable to the...

This paper seeks to determine the optimal volume of international currency reserves of the Bank of Russia to prevent adverse fluctuations of the Russian ruble exchange rate, causing a threat to financial stability. We create a system of models, taking into account the linkages between the...