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Research and Analytical Notes

Monetary Policy Review - 2023

Work stream 1. Inflation target format

Title Authors Publication Type Publication date
Inflation Target Format  Meshcheryakov, A., Sukhomlinov, A., Glazova, A. Comprehensive Analytical Note 2023
Optimal Level of Inflation Target, ZLB, and Equilibrium Real Interest Rate Glazova, A. Working Paper 2023
Factors Determining the Choice of Inflation Target Levels: Theory and Global Practice Meshcheryakov, A., Sukhomlinov A., Kolosov, A. Working Paper 2023
Global Experience in Lowering Medium-Term Inflation Target Levels Kuzmina, Z., Meshcheryakov, A., Kolosov, A. Analytical Note 2023
What Determines the Choice of Inflation Target ’Width’? Magzhanov, T., Meshcheryakov, A. Working Paper 2023
Choice of Indicator for Inflation Targeting Kuzmina, Z., Plushchevskaya, Yu., Zhemkov, M., Meshcheryakov, A., Kolosov, A., Shemyakina, K. Analytical Note 2023
Alternative Monetary Policy Strategies: Pros and Cons Melikhova, M., Rezepina, E., Sharafutdinov, A. Working Paper 2023

Work stream 2. The operational framework of monetary policy

Required Reserves in the Bank of Russia Yatsyk, O., Kiyutsevskaya, A., Klepatsky, D. Analytical Note 2023
Bank of Russia’s Monetary Policy Operating Procedure Yatsyk, O., Kiyutsevskaya, A., Klepatsky, D., Akhmed Abu Bakr, F. Analytical Note 2023

Work stream 3. Retrospective assessment of the effectiveness of monetary policy

Retrospective assessment of the optimality of monetary policy Zmanovsky, A. Working Paper 2023

Work stream 4. Communication as a monetary policy instrument

Communication as a Monetary Policy Instrument Evstigneeva, A. Comprehensive Analytical Note 2023
The Impact of Negative News on Public Perception of Inflation Evstigneeva, A., Karpov, D. Bank of Russia Working Paper Series 2023
Assessment of Clarity of Bank of Russia Monetary Policy Communication by Neural Network Approach Evstigneeva, A., Sidorovskiy, M. Journal Article 2021
The Role of Communication and Information Factors in the Emergence of Surprises in Bank of Russia Monetary Policy Evstigneeva, A., Shchadilova, Yu., Sidorovskiy, M. Bank of Russia Working Paper Series 2022
Lessons from Crises to Improve the Communication between the Bank of Russia and Financial Markets Pavlenko, M., Gorbatova, T., Evstigneeva, A. Working Paper 2023
Communication on Monetary Policy Decisions and Macroeconomic Forecasts: International Experience Shchadilova, Yu., Evstigneeva, A. Analytical Note 2023

Work stream 5. Monetary policy and financial stability

Monetary Policy and Financial Stability Asriev, M., Miroshnichenko, D. Working Paper 2023

Work stream 6. New challenges to monetary policy

New Challenges to Monetary Policy Smirnova, Z. Analytical Note 2023
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Last updated on: 09.02.2024