Stagflation in the Inside Money Economy: the Post Keynesian Perspective
The paper contains attempt to develop theory which try to explain – in the Post Keynesian “spirit” – why can stagflation be inherent in the modern market advanced economy. The treatment of such economy as the “inside money economy” is very important. The author shows that stagflation is the inevitable feature of any recession in the inside money economy, when price-controlling firms try to avoid immediately the bankruptcies in the conditions of a “debt crisis", higher and/or rising interest rates and decrease in the aggregate demand. In other words, a recession in such economy is always a stagflation. The paper also shows that cyclical expansion together with redemption of debts by some firms and the bankruptcies of other firms can deliver the economy from stagflation, but only until the beginning of a next recession. All this reasoning can be very important in the current period of the 2007 – 2012 Global Financial Crisis.
The paper reviews the problem of Russian regions inequality and the mechanisms for its solving. To use only the minimum level of fiscal capacity as the main calculated indicator of the intergovernmental transfers is not effective. In the article there are suggestions for improving the system of intergovernmental relations and the perspectives to use the Investment Fund for smoothing regional disparities.
This paper proposes a method of allocation of grant funds within the scientific and academic groups. We consider the allocation process automation through the use of Internet technologies. The study was conducted on the basis of scientific and educational group «Theoretical Foundations of energy efficient wireless sensor networks», National Research University «Higher School of Economics».
The article describes the evolution of the accounting knowledge from the simple registration technique to economic and social institution, in medieval Italy. It is shown that the institutionalization of accounting was completed to the XIV century, when it became a system of codified technical standards, scholar discipline and professional field. Examined the interrelations of this process with a business environment, political, social, economic and cultural factors of Italy by the XII-XVI centuries.
Social entrepreneurship is a type of entrepreneurial activity focused on solving problems that have traditionally been the "area of responsibility" of the government. The study systematizes the mechanisms and institutions that stimulate the development of social entrepreneurship in Russia, as well as the restrictions that prevent social business from occupying its niche in the country's economy.
Books Item - study of the reaction of the academic sosobschestva the First World War events
In his article, the authors describe the main problems associated with the implementation of the Federal State Educational Standard to the Russian system of education, and offer their views to possible solutions.
The paper examines the structure, governance, and balance sheets of state-controlled banks in Russia, which accounted for over 55 percent of the total assets in the country's banking system in early 2012. The author offers a credible estimate of the size of the country's state banking sector by including banks that are indirectly owned by public organizations. Contrary to some predictions based on the theoretical literature on economic transition, he explains the relatively high profitability and efficiency of Russian state-controlled banks by pointing to their competitive position in such functions as acquisition and disposal of assets on behalf of the government. Also suggested in the paper is a different way of looking at market concentration in Russia (by consolidating the market shares of core state-controlled banks), which produces a picture of a more concentrated market than officially reported. Lastly, one of the author's interesting conclusions is that China provides a better benchmark than the formerly centrally planned economies of Central and Eastern Europe by which to assess the viability of state ownership of banks in Russia and to evaluate the country's banking sector.
The paper examines the principles for the supervision of financial conglomerates proposed by BCBS in the consultative document published in December 2011. Moreover, the article proposes a number of suggestions worked out by the authors within the HSE research team.