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Modelling of Inflationary Processes in Russia

Listed author(s):
  • Egorov D.A.

    ()

    (Russian Presidential Academy of National Economy and Public Administration (RANEPA))

  • Perevyshina E.A.

    ()

    (Russian Presidential Academy of National Economy and Public Administration (RANEPA))

Registered author(s):

    This study is devoted to the analysis of two empirical approaches to modeling inflationary processes in Russia and abroad: the cost approach, and the Phillips curve. The authors examine the application of these approaches for the analysis of inflation factors in different countries, highlighting their strengths and weaknesses. Both approaches are used for the analysis of inflation in Russia in the 2000s. As part of the cost approach, a model for the consumer price index is estimated. Besides, various Phillips curve modifications are estimated for the consumer price index and various measures of economic activity (output gap, unemployment, unit labor costs). It is shown that the inflationary process in Russia is better described by the hybrid Phillips curve with output gap.

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    Paper provided by Russian Presidential Academy of National Economy and Public Administration in its series Working Papers with number 2138.

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    Length: 96 pages
    Date of creation: 21 Mar 2016
    Handle: RePEc:rnp:wpaper:2138
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