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Money and Finance
Opinions
Economics
Monetary Policy

Little fires everywhere

Rainer Michael Preiss

The Fed waited too long to tighten the policy in its anti-inflation stand, believing the acceleration of prices to have been temporary. The biggest concern for markets now is whether the Fed could avoid another policy mistake with regards to over hiking interest rates.

Economics
Macroeconomics

Regional Economy: Transformation

Econs

Russian businesses have faced foreign counterparts’ refusal to continue cooperation, suspension of imported components and the rising cost of logistics. Companies are looking for alternative production and logistics chains, the Bank of  Russia survey finds.

Opinions
Economics

The New Life of the Economy: Four Stages

Alexander Morozov

In March, the Russian economy entered a downturn phase triggered by the impact of all-out foreign trade and financial sanctions and restrictions. If they continue, the economy will lose some of its potential, and the recovery will be protracted.

Opinions
Finance

ETF: the Good, the Bad and the Ugly

Sergey Moiseev

Exchange-traded funds (ETFs) are gradually supplanting all other types of funds in the financial market. Their rampant growth makes it simpler for millions of investors to enter markets. However, their expected dominance might have effects that are yet to be explored.

Economics
Longread

David Card: ‘They thought that we were being traitors to the cause of economics as a whole.’

Boris Grozovsky

It was by chance that David Card, the 2021 Nobel Prize winner, became an economist. Academic journals turned down his works, and his friends thought he had broken up the foundations of economic theory. But if a theory doesn’t fit the evidence, there must be an alternative theory.

Finance
Opinions

Russian Investors and Foreign ETFs

Mikhail Mamuta, Sergey Moiseev

From 2022 on, Russian retail investors will be allowed to buy foreign exchange-traded funds (ETFs). This regulatory decision tackles several objectives, from making investments more balanced to encouraging competition among asset management companies.

Financial Stability
PROstability Blog

Crypto Ecosystems and the ‘Rules of the Road’

Ksenia Yudaeva

As cryptocurrencies and other digital financial assets gain popularity, regulators are increasingly alarmed about the potential risks to financial stability they bring. Additional steps are needed to ensure that money surrogates are not used for payments.

Opinions
Economics

Europe’s Energy Crisis

Marcel Salikhov

There has never been such expensive gas in Europe as recently: over the 12 months up to the end of November, prices increased more than 5-fold. The situation raises the question of whether this crisis is temporary or it signifies structural problems in the energy markets.

Economics
Opinions

Here Comes Uber: How Ride-Hailing Apps Change Traffic

Ivan Korolev

Uber and Lyft once promised to replace personal cars and do away with traffic congestion. However, some municipal authorities believe that these services have only exacerbated traffic jams. Research shows that their impact on road traffic depends on the ‘design’ of cities.

Most popular

The New Life of the Economy: Four Stages
David Card: ‘They thought that we were being traitors to the cause of economics as a whole.’
Ruben Enikolopov: ‘We will live in a platform-dominated world’
Crypto Ecosystems and the ‘Rules of the Road’
Monetary Policy for an Equitable Society
The Future of Capitalism: The Evolution of Homo Economicus

Researches of the Bank of Russia

DEBT STRATEGY Foreign Currency Debt and Exchange Rate Pass-Through
EXCHANGE RATE Heterogeneity of the impact of the ruble exchange rate on output in the regional context
Credit market Measuring Heterogeneity in Banks’ Interest Rate Setting in Russia
Export strategy What is hindering Russian exports: the results of a survey of enterprises
Forecasting performance Forecasting Russian CPI with data Vintages and Machine learning techniques
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