The next open research seminar will be held at the National Bank of Ukraine on 6 October 2017. At the seminar, participants will learn findings of a NBU staff study on the following topic: the equilibrium real interest rate in a small open economy: application in Ukraine. The study was carried out by Serhii Nikolaichuk, director of the Monetary Policy and Economic Analysis Department; Volodymyr Lepushynskyi, head of the Monetary Policy Office; and Anton Hrui, chief economist of the Modeling Division.
Authors study the equilibrium interest rate, which is consistent with output at its potential level and inflation at its target level in the middle-run perspective. Taking into account the nature of small open economies, the Ukrainian equilibrium interest rate is determined by the value of global capital, the domestic premium for sovereign risk and the real exchange rate.
The researchers show that currently there is a positive gap between the NBU key policy rate and the equilibrium rate, which reflects tight monetary policy that is necessary to ensure price stability.
The seminar’s working language will be English.
Seminar venue: room 206, 9, Instytutska St., Kyiv. The venue can be accessed via the central entrance.
Start: at 2pm.
The registration of participants will take place from 1.45 p.m. to 1.55 p.m.
To be admitted into the NBU, which is a restricted access facility, you must show your ID.
In order to participate in the seminar, all interested stakeholders must submit an application stating their family name, name, place of employment, and contact details (telephone, e-mail) to [email protected]. The application deadline is 5 pm on 5 October 2017. Given the limited number of available seats, the NBU reserves the right to accept or reject applications. Each participant will receive an email saying whether their application has been accepted or rejected.
The NBU invites researchers to present findings of their studies on issues related to the NBU’s activities and the operation of the financial system at the NBU’s research seminars. Email your proposals (stating a desired seminar date, presentation materials, an executive summary and/or draft contributions) to the NBU Research Division of the Monetary Policy and Economic Analysis Department (email: [email protected]).
The materials of previous open research seminars are available at.
The NBU launched open research seminars in July 2015. These seminars provide an opportunity to the representatives of the academic and expert community, international financial institutions, other central banks, and the NBU to share their research findings, and to discuss them with their peers.