The short and variable lags of Russian monetary policy

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Title: The short and variable lags of Russian monetary policy
Author: Pesonen, Hanna ; Korhonen, Iikka
Organization: Bank of Finland
Suomen Pankki
Department / Unit: Institute for Economies in Transition (BOFIT)
Siirtymätalouksien tutkimuslaitos (BOFIT)
Series number: 4/1998
Year of publication: 1998
Publication date: 12.6.1998
Pages: 35-45
Keywords: rahapolitiikka; inflaatio; Venäjä; Bofit-kokoelma
Abstract: This paper assesses empirically the lag between changes in money supply and inflation in Russia during the economic transition.In line with the previous literature, we find that money supply changes affect inflation with a fairly short lag.In addition to this, we find tentative evidence for some lengthening of the lag as the transition has progressed.However, these results are not very robust, and the lags that are found to be significant are generally shorter than those found in the earlier literature. Keywords: Inflation, monetary policy, Russia
Note: Ilmestynyt myös: Russian and East European finance and trade 35 ; 2 (1999).Uudelleenjulkaistu pdf-muodossa 2002 (Idäntalouksien yksikön sarja)Reprint in PDF format 2002 (Unit for Eastern European Economies series)

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