Polterovich, Victor (2006): Снижение инфляции не должно быть главной целью экономической политики правительства России. Published in: Economics of Contemporary Russia No. 2 (2006): pp. 40-49.
Preview |
PDF
MPRA_paper_22064.pdf Download (199kB) | Preview |
Abstract
If imperfect market institutions prevail in a country and inflation amounts to about 10% then efforts directed to further inflation decrease would probably hamper economic growth. To substantiate this thesis, I make references on opinions of well-known economists, discuss results of recent empirical research, and analyze peculiarities of modern economic situation in Russia. Arguments in favor of active policy to stimulate economic development are adduced.
| Item Type: | MPRA Paper |
|---|---|
| Original Title: | Снижение инфляции не должно быть главной целью экономической политики правительства России |
| English Title: | Decreasing Inflation Should not Be the Main Task of the Russian Government Economic Policy |
| Language: | Russian |
| Keywords: | inflation; economic growth; Russia |
| Subjects: | P - Economic Systems > P2 - Socialist Systems and Transitional Economies > P20 - General |
| Item ID: | 22064 |
| Depositing User: | Victor Polterovich |
| Date Deposited: | 13 Apr 2010 06:49 |
| Last Modified: | 05 Oct 2019 16:45 |
| References: | Bernanke, B.S., Mishkin F.S. (1997). Inflation Targeting: A New Framework for Monetary Policy? NBER Working Paper N.5893. Blanchard, O.J., Fisher, S. (1992). Lectures on Macroeconomics. The MIT Press, Cambridge, Mass. 650 pp. Bruno, M. & W. Easterly (1995). Inflation Crises and Long-Run Growth, NBER Working Papers 5209, National Bureau of Economic Research, Inc. Bullard, J. and Keating, J.W.(1995). The Long-Run Relationship between Inflation and Output in Postwar Economies. Journal of Monetary Economics, 36, 477-496. Driffill, J., Mizon, G.E., Ulph, A. (1990). Costs of Inflation. In: B.Friedman and F.Hahn (eds). Handbook of Monetary Economics, v.II, 1014-1067. Economic Survey of Europe (2003), United Nations, N.1 Ghosh, A. & Phillips, S. (1998). Inflation, Disinflation and Growth. IMF Working Paper WP/98/68 (Washington, DC: International Monetary Fund). Gillman, M., M.N. Harris, L. Matyas (2002). Inflation and Growth: Some Theory and Evidence. 10th International Conferrence on Panel Data, Berlin, July 5-6. Gillman, M. and M.N. Harris (2004). Inflation, Financial Development and Growth in Transition Countries. Monash University, Australia, Working Paper 23/04, November. Gillman, M., Nakov, A. (2004). Granger Causality of the Inflation-Growth Mirror in Accession Countries. Economics of Transition, v.12, N.4, 653-681. Holden, S. (2004). The Costs of Price Stability: Downward Nominal Wage Rigidity in Europe. Economica, v.71, N.282, May, 183-208. Jonas, J., Mishkin, F.S. (2003). Inflation Targeting in Transition Countries: Experience and Prospects. NBER Working Paper Series, Working Paper 9667, Lukas, R.E.,Jr., (1996). "Nobel Lecture: Monetary Neutrality". Journal of Political Economy, 104, 661-682. Maddison, Monitoring the World Economy 1820-1992, OECD, 1995. Romer, D.(2001). Advanced Macroeconomics. McGraw-Hill International Edition. Sarel, M. (1996). Nonlinear Effects of Inflation on Economic Growth. IMF Staff Papers, 43, pp.199-215. Sepehri, A., Moshiri, S. (2004). Inflation-Growth Profiles Across Countries; Evidence from Developing and Developed Countries. International Review of Applied Economics, v.18, N.2, April, 191-207. Stiglitz, J.E. (2003). Globalization and its discontents. W.W.Norton & Company, New York, London, 288 pp. |
| URI: | https://mpra.ub.uni-muenchen.de/id/eprint/22064 |

