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Nonconventional Economic Policy as Theoretical Basis of Transformation of Public Administration of Economy

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  • Aleksandr Nickolaevich Petrov
  • Nikolay Nikolaevich Smirnov
  • Lyudmila Afanasievna Trofimova

Abstract

In the article, conceptual bases and a configuration of modern economic policy are characterized. At the same time, the prevailing (normal) conditions and a case of depressive economy are divided. To the first, there correspond the defining role of the monetary policy that is conducted in a format of flexible targeting of inflation and asupporting role of the state budget subordinated to achievement of fiscal stability. A recurrence of depressive economy is followed by return of traditional Keynesianism and non-standard in comparison with the prevailing approaches of policy. The conclusion about essential dependence of processes of public administration on a condition of national economy is drawn.

Suggested Citation

  • Aleksandr Nickolaevich Petrov & Nikolay Nikolaevich Smirnov & Lyudmila Afanasievna Trofimova, 0. "Nonconventional Economic Policy as Theoretical Basis of Transformation of Public Administration of Economy," Administrative Consulting, Russian Presidential Academy of National Economy and Public Administration. North-West Institute of Management., issue 12.
    • Handle: RePEc:acf:journl:y::id:479
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    References listed on IDEAS

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    1. M. Woodford., 2010. "Convergence in Macroeconomics: Elements of the New Synthesis," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 10.
    2. Olivier Blanchard & Giovanni Dell'Ariccia & Paolo Mauro, 2010. "Rethinking Macroeconomic Policy," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 42(s1), pages 199-215, September.
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