This paper investigates the possibility of conducting an unconventional monetary policy of Quantitative easing (QE) at high interest rates using the example and experience of Russia. The Central Bank of the Russian Federation has raised the key interest rate on three occasions during the 7...

People recognized the important role played by money a long time ago. But it was only approximately 50 years ago that Milton Friedman convincingly proved that change in the quantity of money in the economy may have a very serious effect on the GDP. This paper reveals a most intimate non-linear...

Key discussions regarding Russia's economic policy are now taking place between the two camps of economists. The foremost proponent of the ideas in the first camp is Alexey Kudrin, former Vice-Prime Minister, PhD in Economics. The second camp has crystalized itself around Sergey Glaziev, Advisor...

Money supply statistics based on the Year 2015 results show that «money starvation» is coming to an end in Russia. That has always been truly indicative of exit from the crisis. The depth of money supply decline in 2015 (it declined by 11%) proved to have been the smallest one in the whole...

The article shows that actual public expenditure in the period of rapid oil prices growth of the 2000s was less than optimal level in Russia. The macroeconomic model of Russian economy is the basis of current research. The main mechanism of growth in an optimum scenario is associated with the...

Attempts to establish a link between inflation and economic growth are made quite regularly. The aim of such attempts is not only to determine the impact of inflation on economic growth but also to assess efficiency of the inflation rein-in policy, for example, the policy of inflation targeting....

Russian Abstract: Позиция сторонников смягчения политики Банка России следующая: если денежные власти развитых стран отказываются от своих принципов, то зачем тогда...