The impact of the transition to inflation targeting policy on Russian regions

The article analyses the impact of the Central Bank's transition to the inflation targeting policy on the regions of the Russian Federation. To assess this transition, the data on consumer price index of Russian regions for the period from 2010 to 2019 are used. The paper uses dynamic panel regression and Arellano-Bond estimates as the main econometric apparatus. According to the results obtained, the transition to the inflation targeting policy reduces the consumer price index and its volatility in the Russian regions.