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Pitfalls of Coordination?
International Journal of Central Banking. 2018. Vol. 14. No. 2. P. 337-346.
Slobodyan S.
I argue that the rather unfavorable conclusions of the three papers in the session on "Coordination and Tradeoffs" might not be as bad as they seem. In particular, I dwell on challenges facing the central bank using an interest rate that is different from the risk-free rate in its Taylor rule, and show that proper redefinition of the intercept and the slope of the rule allows avoidance of inflationary bias and preserves the stability of equilibrium.
Slobodyan S., Association of the International Journal of Central Banking, 2018
I argue that the rather unfavorable conclusions of the three papers in the session on "Coordination and Tradeoffs" might not be as bad as they seem. In particular, I dwell on challenges facing the central bank using an interest rate that is different from the risk-free rate in its Taylor rule, and show that proper ...
Added: February 1, 2019
Savitskaya E. V., M. : Litterra, 2018
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нес 9Mрылымдарда 9ызмет ететін немесе осы салада жMмыс ...
Added: October 21, 2014
Sergeyev V., Dybskaya V., Логистика и управление цепями поставок 2012 № 1 С. 6-18
Article continues subjects of modeling of the logistical centers (LC). Definition of operational model LC is made. Typical variants of construction of operational model from simple model of rent of the warehouse areas to operational model LC of high level with participation of the 4PL-provider are considered. The algorithm of a choice of logistical operators ...
Added: December 14, 2012
Bukina I. S., Маневич В. Е., Ахатова Э. Р. et al., Вестник Института экономики Российской академии наук 2012 № 5 С. 32-44
Рассматриваются ключевые факторы экономической динамики, ограничивающие возможности воздействия денежно-финансовой политики на рост российской экономики в период после кризиса 2008–2010 гг. Статья содержит систему взаимосвязанных аналитических таблиц, позволяющих осуществлять постоянный мониторинг денежнофинансовой политики и результатов ее влияния на макроэкономические индикаторы. На основе обширного статистического массива оцениваются механизмы и определяются принципы целенаправленного регулирования денежной и финансовой политики. ...
Added: November 20, 2012
Bukina I. S., Маневич В. Е., Ахатова Э. Р. et al., Вестник Института экономики Российской академии наук 2012 № 4 С. 7-35
Рассматриваются ключевые факторы экономической динамики, ограничивающие возможности воздействия денежно-финансовой политики на рост российской экономики в период после кризиса 2008–2010 гг. Статья содержит систему взаимосвязанных аналитических таблиц, позволяющих осуществлять постоянный мониторинг денежнофинансовой политики и результатов ее влияния на макроэкономические индикаторы. На основе обширного статистического массива оцениваются механизмы и определяются принципы целенаправленного регулирования денежной и финансовой политики. ...
Added: November 20, 2012
Стратегическое взаимодействие фискальной и монетарной политики в экспортно ориентированной экономике
Pekarski S. E., Атаманчук М. А., Merzlyakov S., Деньги и кредит 2010 № 2 С. 52-63
This paper analyzes a stylized model of an export-oriented economy. It investigates the impact of macroeconomic policies on the dynamics of the exchange rate, inflation, output and stabilization fund and consider different forms of strategic interaction between the government and the central bank. It is shown that the effective interaction of fiscal and monetary policies ...
Added: October 7, 2012
Merzlyakov S., Panoeconomicus 2012 Vol. 59 No. 2 P. 201-216
Solving the problem of stabilizing the economy is directly tied to the necessity of keeping the main macroeconomic variables stable. However, macroeconomic stability is not in the general case a purely fiscal or a purely monetary problem. How the central bank and the government interact is of principle importance. We investigate the impact of macroeconomic ...
Added: October 30, 2012
Kuznetsova O., Merzlyakov S., AlterEconomics (ранее - Журнал экономической теории) 2015 № 3 С. 93-101
This paper analyzes macroeconomic policy under uncertain fiscal policy preferences. We show that uncertain preferences of the government lead to more expansionary monetary policy and more contractionary fiscal policy. As a result, inflation bias is aggravated: expected inflation increases, while expected output drops. Nevertheless, if fiscal multiplier is certain, preference uncertainty does not matter anymore. ...
Added: September 23, 2015
Sergeyev V., Логистика и управление цепями поставок 2009 № 1 С. 10-22
The basic directions of use of toolkit of logistics and management of supplies chains for eliminations and preventions of the crisis phenomena in economy are considered. It is shown that integration and logistical coordination are the basic ways of economy of expenses and optimisation of stock level in supplies chains. Types of integration decisions and ...
Added: December 14, 2012
Kotliarov I. D., Экономическая наука современной России 2017 № 1 С. 22-40
There is no universal approach towards definition of economic nature of hybrids within the economic science. The present paper contains a description of possible ways of solution of this problem.
The paper contains a description of three approaches towards the nature of hybrid structures. It is demonstrated that the ontological status of hybrids within these approaches ...
Added: January 30, 2018
Sushentsova M. S., Журнал институциональных исследований 2017 Т. 9 № 2 С. 46-62
The article represents an overview of general tendencies in interaction between the notions of rationality and morality, and their influence on the foundations of economic coordination. Firstly, two main directions of evolution of rationality model are considered: the theory of perspectives of D. Kahneman and A. Tverski (the empirical restriction) and economic imperialism of G. ...
Added: August 24, 2018
Merzlyakov S., Pekarski S. E., Горизонты экономики 2015 Т. 23 № 4 С. 37-45
This paper focuses on the role of central bank conservatism while an optimal macroeconomic policy in export-oriented economy is conducted. The main research question is whether monetary policy should be carried out by the central bank, which gives higher priority to inflation rather than output, regardless of the form of strategic monetary and fiscal policy ...
Added: October 1, 2015
Абрамова М. А., Криворучко С. В., Свирина Е. М., Банковские услуги 2015 № 5 С. 2-9
Приведены мнения экспертов по некоторым дискуссионным вопросам современной государственной денежно-кредитной политики России. Акценты сделаны на анализе целей деятельности Банка России в области денежно-кредитной политики, современного инструментария денежно-кредитного регулирования, вопросов применения режима таргетирования инфляции в России. ...
Added: May 22, 2018
Slepov V. A., Burlachkov V. K., Danko T. P. et al., European Research Studies Journal 2017 Vol. 20 No. 4A P. 457-470
This article examines the main integration trends of the state's monetary and fiscal policy in influencing economic growth and maintaining the sustainability of public debt. It is argued that the relationship between these trends of macroeconomic regulation is predetermined, on the one hand, by the potentially negative impact of fiscal expansion from the point of ...
Added: August 18, 2021
Rozanova N. M., Кокорин В. С., Terra Economicus 2013 Т. 11 № 3 С. 20-33
An adequate interaction between government and economy is the key problem of modern countries. How can we improve the functioning of the government if this conflict of interests would be systematic and unavoidable by its nature? What would be better: to have more government – and more limitations for business; or less regulation (with more ...
Added: October 30, 2013
Dabrowski M., CESifo Forum 2016 Vol. 17 No. 4 P. 3-11
Political and economic changes in Central and Eastern Europe (CEE) and the former Soviet Union (FSU) at the end of 1980s and early 1990s resulted in just two episodes of monetary disintegration. Firstly, the end of Soviet geopolitical control over CEE led to the demise of the Council for Mutual Economic Assistance (CMEA or Comecon) ...
Added: February 5, 2017
Sokolova A., International Journal of Computational Economics and Econometrics 2014 Vol. 4 No. 1/2 P. 254 -268
The aim of this research is to identify the process that guides the evolution of inflation expectations in Russia. The significance of this theoretical issue is stipulated by the fact that the characteristics of this process are the key determinants of both inflation dynamics and the effectiveness of disinflation measures introduced by the Central Bank. ...
Added: April 25, 2014
Zamulin O. A., Sosunov K. A., / ЦЭФИР и РЭШ. Series WP101-1 "Научные труды ЦЭФИР и РЭШ". 2007. No. 101.
The paper studies monetary policy in an economy, in which the manufacturing sector is ousted completely by the presence of a large natural resource industry. Thus, the economy produces only non-tradable goods, which can complement or substitute imported goods, and the primary shock to the economy comes from the ”uctuations in the world price of ...
Added: April 22, 2013
Akindinova Natalia, Kuzminov Yaroslav, Yasin Evgeny, Russian Journal of Economics 2016 Vol. 2 No. 3 P. 219-245
This article explains the main stages and results of economic development in Russia since the early 1990s. It describes the process of the formation and the basic features of a three-sector economic model, as well as the the reasons for its stability and existing constraints on economic growth. The authors consider the most likely scenario ...
Added: October 20, 2016
Dabrowski M., M. : Higher School of Economics Publishing House, 2014
Since 2008, the world economy has been facing consequences of the global financial crisis. One of them is rapid growth in public debt in most advanced economies, which resulted from an overoptimistic estimate of fiscal situation before the crisis, declining government revenue and increasing social expenditure during the crisis, costs of the banking system restructuring, ...
Added: April 11, 2014
Напалков В. В., Novak A., Shulgin A. G., Деньги и кредит 2021 № 80(1) С. 3-45
This research analyses regional heterogeneity in the reaction of core inflation to shocks of a single monetary policy on the example of Russia. We use a global vector autoregression model to estimate impulse response functions of core inflation in Russian regions to monetary policy shocks. The average 5-year cumulative response of regional core inflation to ...
Added: March 31, 2021
Borzykh O., Могилат А. Н., Деньги и кредит 2017 № 9 С. 48-54
The article studies the role of monetary analysis in inflation targeting and Bank of Russia’s monetary policy. We place emphasis on the approaches to inflation monetary risks estimation (these risks are caused by enhanced growth of monetary aggregates). We found out that currently money growth is not a key factor of inflation in Russian economy. ...
Added: August 24, 2017
Vinogradov A., Логистика и управление цепями поставок 2016 № 5 С. 43-51
The article embraces the study of the major approaches to coordination and intra-organizational conflict management in the management theory. The purpose of the study is to raise efficiency and effectiveness of the logistics coordination. Foreign sources as well as the results of the author’s own empirical research, employing methods of questionnaire survey and statistical data ...
Added: January 11, 2017