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Russian Federation :, Selected Issues

Russian Federation :, Selected Issues
This Selected Issues paper on the Russian Federation underlies inflation persistence and evolution in response to structural shocks. Inflation in Russia has been characterized by a considerable degree of persistence. An explicit inflation-targeting framework may help reduce firms’ uncertainty about the future. This, in turn, may allow firms to be more forward-looking, thereby reducing persistence. The exchange rate is the Central Bank of Russia’s (CBR) main policy instrument for controlling inflation. Allowing more nominal appreciation would help to keep inflation on a downward path and better anchor inflation expectations
international or intergovernmental publication
Literary Form
non fiction
Main title
Russian Federation :
Nature of contents
Oclc number
Series statement
IMF Staff Country Reports
Sub title
Selected Issues
Table Of Contents
Cover; Contents; I. Understanding Russia's Inflation in the Post-1998 Crisis Period; A. Introduction; Text Tables; 1. CEE and Selected Emerging Countries: Consumer Price Inflation, 2006; Text Figure; 1. CPI, Core CPI, and PPI Inflation, 2000-06; B. Inflation Persistence; Text Boxes; 1. Univariate Approach to Measuring Inflation Persistence; 2. Reduced-Form Estimation of NKPC; C. Inflation Evolution in Response to Structural Shocks-SVAR; 2. Structural Model Underlying the Hybrid NKPC; 3. Identification of Structural Shocks; Figure; 1. Impulse Responses to a Positive Interest Rate Shock2. Impulse Responses to a Positive Interest Rate Shock3. Impulse Responses of Inflation to Shocks to Other Variables; 3. Forecast Error Variance Decomposition of Core Inflation; D. Concluding Remarks; Appendix; Estimation Methodologies; References; II. Benchmarking the Efficiency of Public Expenditure in the Russian Federation; A. Introduction and Summary; B. Methodological Issues; C. General Government; D. Local Governments; Text Box; 1. Explanatory Variables-Motivation and Results; E. Conclusion; Tables; 1. General Government-Multiple-Outcome Health Efficiency Model2. General Government-Multiple-Outcome Education Efficiency Model3. General Government-Social Protection Efficiency Model; 4. Local Governments-Data Description; 5. Local Governments-Summary of Performance and Efficiency Scores; Figures; 1. Income Level and General Government Spending; 2. Structure of General Government Spending-Functional Classification; 3. Structure of General Government Spending-Economic Classification; 4. General Government-Efficiency of Private and Public Health Spending (I); 5. General Government-Efficiency of Private and Public Health Spending (II)6. General Government-Efficiency of Public Education Spending7. General Government-Efficiency of Social Protection Spending; 8. Local Governments-Income Level and Government Spending; 9. Local Governments-PSP, PSE, and DEA Scores vs. Spending in Percent of GRP; Appendices; I. Methodological Details; II. Background Tables for Local Governments; References
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