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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?
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.
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.
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.
More and more people around the world are getting news from social media. For regulators, this is an opportunity to receive feedback in real time. In our study, we show this by building an index that reflects how Telegram users channels perceive the Bank of Russia’s decisions.
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.
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.
Suboptimal and erroneous financial decisions people make often stem from cognitive biases. Their effect can be mitigated by impacting two key aspects – people’s behaviour and the decision-making environment.
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.
Unlike in other countries, inflation expectations in Russia are unresponsive to low inflation data of previous years, an experiment has found. This makes it imperative to ensure sustainably low inflation and prove that price stability is achievable.
