Economist have noted for decades that Consumer Price Index (CPI) in the developed countries is overstating inflation by 0,5-2,0% per year. A significant part of such a bias is found to be caused by the presence of technology products and differentiated products in CPI. An increasing weight of...

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External shocks affect the balance of supply and demand, and, consequently, the established price of goods. There were varying price reactions around the world in the early stages of the COVID-19 pandemic. The sharp increase in demand and prices for many goods posed threats to food security. The...

The author shows that different approaches to income comparisons both on country and regional levels may lead to conflicting conclusions concerning the catching-up. It is argued that current PPPs (Instead of constant PPPs) give more reliable picture of per capita GDP convergence process on...

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...

A new theory of value is suggested. Its key moments and general logic are presented. The theory has all-purpose nature (is applicable to any commodities, any markets and any market situations). Value is considered as a multicomponent notion which characterizes commodity's internal behaviour...

The mass media frequently accuse official statistics of underestimating the inflation rate (consumer price index – CPI) by half to two-thirds. This paper analyzes potential sources of distortion of the official CPI, concluding that systematic errors causing underestimating are absent, and...

Savings are a huge boon for the economy. This means both growth today and prospects for growth tomorrow. This is both an investment resource and a medicine for inflation. However, mistakes made in managing the savings by economic authorities, may turn everything upside down and then the savings...

The mass media frequently accuse official statistics of underestimating the inflation rate (consumer price index – CPI) by half to two-thirds. This paper analyzes potential sources of distortion of the official CPI, concluding that systematic errors causing underestimating are absent, and...

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...