Economics

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.

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.

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.

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?

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.

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.

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 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.

Human capital and its key component – education – are strongly linked to economic growth. However, high levels of education do not guarantee economic growth if a weak institutional environment hinders efficient application of knowledge and skills.

What tectonic shifts are occurring in the world economy and global trade, who are the potential winners and losers in this process, and how the global financial and economic landscape will alter after the storm are the questions addressed by Financial Congress participants.

The Russian labour market is gradually cooling, but high unemployment does not threaten it. The main challenge for the economy is not so much labour shortages as a lack of highly qualified specialists, analyzed the participants of the Financial Congress.

The slowdown in the Russian economy has provoked concerns about an immediate threat of a succession of defaults and a coming banking crisis. Participants in the Financial Congress discussed whether these gloomy expectations were justified.

Is it possible to ‘buy’ economic growth with high inflation, how demand ‘accumulated’ over years, what investments increase productivity, and where forecasters make a mistake: abstracts from the Financial Congress session dedicated to economic growth.

Although the real estate market is a separate sector, it is characterised by what is called ‘macro-criticality’. This means that the effects of changes in the market extend beyond it and may have an impact on macroeconomic stability in general.

The impact of population ageing on inflation remains contentious, as researchers’ opinions differ as to whether ageing has a deflationary or proinflationary effect. Our work uses data from the Russian regions to show that an elderly population has a proinflationary effect.

Why does a central bank need a Telegram channel, what makes the Russian economic information space special, how are inflation expectations managed, does AI help the Bank of Russia write press releases – these are key points from the discussion hosted by New Economic School.