IDEAS home Printed from https://ideas.repec.org/a/url/izvest/v19y2018i1p5-15.html

Monetary Policy in the Context of Theoretical and Methodological Problems of Economic Science

Author

Listed:
  • Vladimir N. Lavrov

    (Ural State Agrarian University)

  • Svetlana I. Ponomareva

    (Ural State University of Economics)

Abstract

The paper focuses on the issue of theoretical and methodological justification of monetary policy and its tools. A review of Russian economists’ theoretical approaches to this problem allowed the au? thors to identify theoretical, methodological and applied bases of evaluation of monetary policy of the Bank of Russia. The paper presents the authors’ view of the scientific discussion on appropriateness of the monetary policy adopted by the Bank of Russia for the current state of the economy. The authors reveal principle distinctions between theoretical arguments of the supporters of the Bank’s monetary policy and their opponents. The research theoretically and conceptually validates the changes in basic definitions and ideas contributing to the existing understanding of inflation in the monetary policy of the Bank of Russia. The analysis of macroeconomic theory and actual monetary policy gives grounds to conclude about their strong correlation. The suggested review of theoretical approaches to the problem studied will allow determining theoretical, methodological and applied rationale for monetary policy more accurately.

Suggested Citation

  • Vladimir N. Lavrov & Svetlana I. Ponomareva, 2018. "Monetary Policy in the Context of Theoretical and Methodological Problems of Economic Science," Journal of New Economy, Ural State University of Economics, vol. 19(1), pages 5-15, February.
    • Handle: RePEc:url:izvest:v:19:y:2018:i:1:p:5-15
    DOI: 10.29141/2073-1019-2018-19-1-1
    as

    Download full text from publisher

    File URL: http://izvestia.usue.ru/images/download/75/1.pdf
    Download Restriction: no
    File URL: http://izvestia.usue.ru/en/-2018/711
    Download Restriction: no
    File URL: https://libkey.io/10.29141/2073-1019-2018-19-1-1?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Robert J. Gordon, 2016. "The Rise and Fall of American Growth: The U.S. Standard of Living since the Civil War," Economics Books, Princeton University Press, edition 1, number 10544, December.
    2. S. Glazyev., 2015. "On Inflation Targeting," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 9.
    3. Ph. Kartaev., 2017. "Is inflation targeting useful for economic growth?," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 2.
    4. A. Kudrin & E. Goryunov & P. Trunin., 2017. "Stimulative monetary policy: Myths and reality," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 5.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Victoria P. Litvinets, 2023. "Inflation Targeting and Economic Growth in Developed and Developing Countries: Evaluation of the Policy Effectiveness Using CS-ARDL Approach," Journal of Applied Economic Research, Graduate School of Economics and Management, Ural Federal University, vol. 22(4), pages 814-833.
    2. repec:url:i20181:v:19:y:2018:i:1:p:5-15 is not listed on IDEAS
    3. Sergey BLINOV, 2017. "Inflation and economic growth," Journal of Economics Library, KSP Journals, vol. 4(3), pages 345-358, September.
    4. Nicholas Bloom & Tarek Alexander Hassan & Aakash Kalyani & Josh Lerner & Ahmed Tahoun, 2021. "The diffusion of disruptive technologies," CEP Discussion Papers dp1798, Centre for Economic Performance, LSE.
    5. Frédéric Cherbonnier & Christian Gollier & Aude Pommeret, 2025. "Stress discounting," Journal of Risk and Uncertainty, Springer, vol. 71(3), pages 219-243, December.
    6. Steinmueller, W. Edward, 2017. "Science fiction and innovation: A response," Research Policy, Elsevier, vol. 46(3), pages 550-553.
    7. Lutz Bornmann & Russell J. Funk, 2025. "Popper’s probability calculus and the decline of scientific disruptiveness," Scientometrics, Springer;Akadémiai Kiadó, vol. 130(8), pages 4801-4807, August.
    8. Pamfili Antipa & Vincent Bignon, 2018. "Whither Economic History? Between Narratives and Quantification," Revue de l'OFCE, Presses de Sciences-Po, vol. 0(3), pages 17-36.
    9. Ufuk Akcigit & Sina T. Ates, 2023. "What Happened to US Business Dynamism?," Journal of Political Economy, University of Chicago Press, vol. 131(8), pages 2059-2124.
    10. McCloskey Deirdre Nansen, 2018. "The Two Movements in Economic Thought, 1700–2000: Empty Economic Boxes Revisited," Man and the Economy, De Gruyter, vol. 5(2), pages 1-20, December.
    11. Livne, Roi, 2020. "OpEd: Death, economy, and the problem of excess," economic sociology. perspectives and conversations, Max Planck Institute for the Study of Societies, vol. 21(3), pages 20-22.
    12. Ross, Andrew G. & McGregor, Peter G. & Swales, J Kim, 2024. "Labour market dynamics in the era of technological advancements: The system-wide impacts of labour augmenting technological change," Technology in Society, Elsevier, vol. 77(C).
    13. Naudé, Wim & Nagler, Paula, 2022. "The Ossified Economy: The Case of Germany, 1870-2020," IZA Discussion Papers 15607, IZA Network @ LISER.
    14. John A. Romley & Abe Dunn & Dana Goldman & Neeraj Sood, 2020. "Quantifying Productivity Growth in the Delivery of Important Episodes of Care within the Medicare Program Using Insurance Claims and Administrative Data," NBER Chapters, in: Big Data for Twenty-First-Century Economic Statistics, pages 297-338, National Bureau of Economic Research, Inc.
    15. Clément Carbonnier, 2023. "Welfare Economics and Neoliberalism: Interpreting the ideal type of perfect competition general equilibrium," Working Papers hal-04062786, HAL.
    16. Bayoumi, Tamim & Barkema, Jelle, 2022. "The Economic Consequences of IT," SocArXiv 8u6an, Center for Open Science.
    17. Figus, Gioele & Swales, J.Kim & Turner, Karen, 2018. "Can Private Vehicle-augmenting Technical Progress Reduce Household and Total Fuel Use?," Ecological Economics, Elsevier, vol. 146(C), pages 136-147.
    18. Pender, Casey, 2024. "Is deflation cause for panic? Evidence from the National Banking era," Journal of Macroeconomics, Elsevier, vol. 82(C).
    19. Garín, Julio & Lester, Robert & Sims, Eric & Wolff, Jonathan, 2019. "Without looking closer, it may seem cheap: Low interest rates and government borrowing," Economics Letters, Elsevier, vol. 180(C), pages 28-32.
    20. Janice C. Eberly & James H. Stock & Jonathan H. Wright, 2020. "The Federal Reserve's Current Framework for Monetary Policy: A Review and Assessment," International Journal of Central Banking, International Journal of Central Banking, vol. 16(1), pages 5-71, February.
    21. John G. Fernald & Robert E. Hall & James H. Stock & Mark W. Watson, 2017. "The Disappointing Recovery of Output after 2009," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 48(1 (Spring), pages 1-81.

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • E59 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Other

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:url:izvest:v:19:y:2018:i:1:p:5-15. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Victor Blaginin (email available below). General contact details of provider: https://edirc.repec.org/data/usueeru.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.