Macroeconomic Preconditions of Realization of a New Growth Model
AbstractThe model of the Russian economy that was formed in 2000s does not match a new stable growth path, though it helped to calmly overcome the crisis of 2008 and 2009. The state needs to provide stability in the fields being under its direct control: in the budget and monetary policy. In the budget policy we consider advantages and drawbacks of a "New Budget Rule", which is based on long-term average price of oil. In the monetary sphere we vote for the policy of transition to inflation targeting and priority of low inflation against other goals of monetary authorities.
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Bibliographic InfoArticle provided by N.P. Redaktsiya zhurnala "Voprosy Economiki" in its journal Voprosy Economiki.
Volume (Year): 9 (2012)
Issue (Month): ()
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macroeconomic stability; budget rule; commodity revenues management; inflation targeting.;
Find related papers by JEL classification:
- E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
- E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy
- H62 - Public Economics - - National Budget, Deficit, and Debt - - - Deficit; Surplus
- Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy
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