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Central banks’ mandate and objectives: Evolution and the crisis lessons
https://doi.org/10.32609/0042-8736-2016-5-5-24
Abstract
On the basis of studying the evolution of goals and objectives of the monetary authorities of a wide range of countries the authors argue the inexpediency of expanding the Bank of Russia’s mandate. It fits into international practice, and also meets the requirements and characteristics of the present stage of economic development. In the pursuit of price stability, the regulator not only maintains the stability of the national currency, as required by the its mandate, but also contributes to the acceleration of economic growth.
Keywords
monetary authorities mandate,
goals of monetary policy,
inflation targeting,
price stability,
economic growth
JEL: E58, E61, E66, F33
About the Authors
S. Drobyshevskiy
Gaidar Institute for Economic Policy; Russian Presidential Academy of National Economy and Public Administration
Russian Federation
Russian Federation
A. Kiyutsevskaya
Gaidar Institute for Economic Policy; Russian Presidential Academy of National Economy and Public Administration
Russian Federation
Russian Federation
P. Trunin
Russian Presidential Academy of National Economy and Public Administration
Russian Federation
Russian Federation
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For citations:
Drobyshevskiy S., Kiyutsevskaya A., Trunin P. Central banks’ mandate and objectives: Evolution and the crisis lessons. Voprosy Ekonomiki. 2016;(5):5-24. (In Russ.) https://doi.org/10.32609/0042-8736-2016-5-5-24
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