Economics

Non-Standard Consumption: Why Unwise Purchases Are Far from Rare
Opinions
Non-Standard Consumption: Why Unwise Purchases Are Far from Rare
  |   Vadim Radaev

People often make unnecessary purchases or end up paying more than they can afford to, contrary to their economic benefit. Such consumption is called non-standard, and is observed, at least occasionally, in almost half of Russian adults.

Crowdfunding as a Trust Test: a Factor Model of Early Risk Capital in the Russian Economy
Macroeconomics
Finance
Crowdfunding as a Trust Test: a Factor Model of Early Risk Capital in the Russian Economy
  |   Natalia Voevodina, Ekaterina Bugaeva, Natalia Kuznetsova

Crowdfunding needs more than just money and internet access to grow. Interpersonal trust, institutional predictability, and cultural behaviour patterns are essential for collective investment: crowdfunding can serve as a mirror reflecting the level of trust in the economy.

How Behavioural Economics Changes Monetary Policy Outlook
Opinions
Monetary Policy
How Behavioural Economics Changes Monetary Policy Outlook
  |   Philipp Kartaev

The rational expectations hypothesis was the gold standard in macroeconomics for many years. It assumes that people take a realistic view of the future. In fact, people often attach too much importance to short-term trends, which may directly impact a central bank’s policy.

Manufacturing Powerhouse: How Russians View Inflation and the Key Rate
Monetary Policy
Manufacturing Powerhouse: How Russians View Inflation and the Key Rate
  |   Alina Evstigneeva

Russians tend to judge inflation by average expenditure rather than ‘visible items’ and describe a ’good economy’ as a self-reliant manufacturing powerhouse. This influences the perception that the key rate is an instrument to support production rather than manage demand.

‘Naïve Economics’: Why People View the World as a Zero-Sum Game
Opinions
‘Naïve Economics’: Why People View the World as a Zero-Sum Game
  |   Lilia Valitova

People often intuitively perceive economics as a zero-sum game, where one person’s gain automatically means another person’s loss. These naïve economic beliefs distort decision-making processes and become a handy tool for political manipulation.

Gold Market: Price Drivers
Opinions
Gold Market: Price Drivers
  |   Sergey Bertyakov

The price of gold is shaped by a combination of fundamental and political factors. We examine the key forces that form it and explain, why the Fed’s decisions has taken the back seat, how central banks and the AI boom influence the market, and why low-grade gold ore prevails?

Lessons of Post-COVID Inflation: How Effective Was Inflation Targeting?
Monetary Policy
Inflation Targeting
Lessons of Post-COVID Inflation: How Effective Was Inflation Targeting?
  |   Andrey Sinyakov, Dmitry Chernyadyev, Alexander Morozov

Countries that do not target inflation responded to the post-COVID inflation surge in a similar way to those with inflation targeting (IT), that is by raising policy rates. This crisis-driven convergence is the ultimate test of the IT regime’s efficiency under various conditions.

Dedollarisation of the World Еconomy: Searching for a New Equilibrium
Opinions
Dedollarisation of the World Еconomy: Searching for a New Equilibrium
  |   Anastasia Podrugina, Alexandra Morozkina

The abandonment of the US dollar as the dominant currency in the near future is highly unlikely. However, geopolitics, coupled with modern financial technologies, may become a driver of the transition to a new equilibrium, with regional currencies becoming dominant.

Contribution of Migrants to Moscow’s Economy
Opinions
Contribution of Migrants to Moscow’s Economy
  |   Daria Avdeeva, Natalia Akindinova, Mikhail Denisenko

Migrants make a substantial contribution to the economy of the Russian capital, accounting for over 20% of its GRP. Up to two-thirds comes from residents of other Russian regions. The significant role of internal migration is what sets Moscow apart from many other global cities.

Three Challenges for Monetary Policy
Opinions
Monetary Policy
Inflation Targeting
Three Challenges for Monetary Policy
  |   Alexander Morozov, Andrey Sinyakov

The degree of monetary tightening for a sustainable disinflation depends not only on the inflation rate, but also on the conditions that have led to its rise. There are three reasons why considerable monetary tightness might need to be maintained even when inflation decelerates.

Industrial Policy in the Era of Technological Competition
Opinions
Industrial Policy in the Era of Technological Competition
  |   Yuri Simachev, Anna Fedyunina

Industrial policy is recovering all over the world. Our analysis of more than 6,500 regulatory acts across nations evidenced that advanced economies support high-tech mastered sectors, while emerging markets – the introduction of simpler technologies, which are new to them.

shown 10 of 90 materials