Development and application of the monetary rule for the base interest rate of the National Bank of Ukraine
No Thumbnail Available
Date
2014
Journal Title
Journal ISSN
Volume Title
Publisher
Article
Date of Defense
Scientific Director
Speciality
Date of Presentation
Abstract
The paper studies methodological approaches to the formation of monetary policy rules for the base interest rate of the National Bank of Ukraine demonstrating the expediency of their development on the basis of the spread-adjusted Tay- lor rule. It carries out the assessment of equilibrium values for the rule’s parameters by using a modified Hodrick- Prescott filter as well as the identification of the possible parameters of the monetary rule and the estimation of their coefficients through the development of multivariate regression models.
Keywords
monetary policy rule, spread-adjusted Taylor rule, central bank, monetary market, inflation targeting
Citation
Kozmenko, S. Development and application of the monetary rule for the base interest rate of the National Bank of Ukraine / S. Kozmenko, T. Savchenko, Y. Piontkovska // Banks and Bank Systems – V. 9, Issue 3 – 2014 – pp. 50-58.