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Modern monetary policy - relevant criticism or misunderstanding in the expert community?

Author

Listed:
  • Badasen Polina

    () (The Central Bank of the Russian Federation)

  • Isakov Alexander

    () (National Research University Higher School of Economics)

  • Khazanov Alexey

    () (Department of Economics, Lomonosov Moscow State University)

Abstract

In this paper we provide the analysis of number of monetary policy issues on which the academic economists, the expert community and the authorities do not have common point of view. We suggest arguments supporting the Bank of Russia's position regarding the interpretation of current economic situation and we also respond to the critique concerning the inconsistency and the lack of transparency of monetary policy presented in Apokin et al., 2014 paper.

Suggested Citation

  • Badasen Polina & Isakov Alexander & Khazanov Alexey, 2015. "Modern monetary policy - relevant criticism or misunderstanding in the expert community?," Working Papers 0017, Moscow State University, Faculty of Economics.
  • Handle: RePEc:upa:wpaper:0017
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    More about this item

    Keywords

    monetary policy; Taylor rule; potential output; key interest rate;
    All these keywords.

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • E65 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Studies of Particular Policy Episodes

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