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OPTIMAL ECONOMIC POLICY AND OIL PRICES SHOCKS IN RUSSIA

Roman Semko

Puni tekst: engleski, pdf (2 MB) str. 69-82 preuzimanja: 1.068* citiraj
APA 6th Edition
Semko, R. (2013). OPTIMAL ECONOMIC POLICY AND OIL PRICES SHOCKS IN RUSSIA. Economic research - Ekonomska istraživanja, 26 (2), 69-82. Preuzeto s https://hrcak.srce.hr/104026
MLA 8th Edition
Semko, Roman. "OPTIMAL ECONOMIC POLICY AND OIL PRICES SHOCKS IN RUSSIA." Economic research - Ekonomska istraživanja, vol. 26, br. 2, 2013, str. 69-82. https://hrcak.srce.hr/104026. Citirano 24.08.2019.
Chicago 17th Edition
Semko, Roman. "OPTIMAL ECONOMIC POLICY AND OIL PRICES SHOCKS IN RUSSIA." Economic research - Ekonomska istraživanja 26, br. 2 (2013): 69-82. https://hrcak.srce.hr/104026
Harvard
Semko, R. (2013). 'OPTIMAL ECONOMIC POLICY AND OIL PRICES SHOCKS IN RUSSIA', Economic research - Ekonomska istraživanja, 26(2), str. 69-82. Preuzeto s: https://hrcak.srce.hr/104026 (Datum pristupa: 24.08.2019.)
Vancouver
Semko R. OPTIMAL ECONOMIC POLICY AND OIL PRICES SHOCKS IN RUSSIA. Economic research - Ekonomska istraživanja [Internet]. 2013 [pristupljeno 24.08.2019.];26(2):69-82. Dostupno na: https://hrcak.srce.hr/104026
IEEE
R. Semko, "OPTIMAL ECONOMIC POLICY AND OIL PRICES SHOCKS IN RUSSIA", Economic research - Ekonomska istraživanja, vol.26, br. 2, str. 69-82, 2013. [Online]. Dostupno na: https://hrcak.srce.hr/104026. [Citirano: 24.08.2019.]

Sažetak
The goal of the paper is to explain and analyze whether the Central Bank of Russia should include commodity prices into the lists of variables they try to respond. We augmented New Keynesian DSGE small open economy model of Dib (2008) with the oil stabilization fund and new Taylor-type monetary policy rule and estimated the model using Bayesian econometrics. The results show that Central Bank’s mild response to the oil price changes may be desired in terms of minimizing fluctuations of inflation and output only in the case when stabilization fund would be absent, while this response is redundant when “excess” oil revenues can be saved in the fund.

Ključne riječi
Optimal monetary policy; Oil prices; Stabilization fund

Hrčak ID: 104026

URI
https://hrcak.srce.hr/104026

[hrvatski]

Posjeta: 1.337 *