The analysis of dollar inflation performed by the authors through the approximation of empirical data for 1913-2012 with a power-law function with an accelerating log-periodic oscillation superimposed over it has made it possible to detect a quasi-singularity point around the 17th of December,...

This working paper analyzes the gold price dynamics on the basis of methodology developed by Didier Sornette. Our calculations indicate that this dynamics is close to the one of the "bubbles" studied by Sornette and that the most probable timing of the "burst of the gold bubble" is April - June...

This article continues our analysis of the gold price dynamics that was published in December 2010 (abs/1012.4118) and forecasted the possibility of the "burst of the gold bubble" in April - June 2011. Our recent analysis suggests the possibility of one more substantial fluctuation before the...

Abstract: We exploit variation in consumer price inflation across 71 Russian regions to examine the relationship between the perceived stability of the local currency and financial dollarization. Our results show that regions with higher inflation experience an increase in the dollarization of...

We exploit variation in consumer price inflation across 71 Russian regions to examine the relationship between the perceived stability of the domestic currency and financial dollarization. Our results show that regions with higher inflation experience an increase in the dollarization of...

Using data on foreign borrowing, I identify Russian banks that were affected by the sudden stop of external financing caused by the Lehman Brothers' collapse. Applying the difference-in-difference method, I compare these "affected" banks to "unaffected" ones and find that the Russian Central...

The article presents the main stages and ongoing results in the Republic of Kyrgyzstan in 1990-2008. Basic directions of reforms in agriculture, industry, and the financial sector as well as the establishment of market-oriented democratic institutions are analyzed.

The article represents the main stages and ongoing results of economic reforms in the Republic of Kyrgyzstan in 1990—2008. Basic directions of reforms in agriculture, industry and financial sector, establishment of market-oriented democratic institutions are analyzed. Issues of sustainability...

The article presents an empirical investigation of the impact of the Balassa—Samuelson effect on the real ruble appreciation in 1999—2007. We consider long-run, supply-side determinants of the real ruble exchange rate, such as changes in terms of trade and labor productivity. Using Russian...