Pub Date : 2023-02-03DOI: 10.32609/0042-8736-2023-2-5-17
K. Sonin
The article provides a brief introduction to the research on banks and finan- cial crises, for which the 2022 Nobel prize in economic sciences was awarded. Forty years ago, the works of Diamond and Dybvig highlighted the critical role banks play in maturity transformation and explained why this role makes banking crises a natural byproduct, thus providing a theoretical basis for modern banking regulation. The concurrent work by Bernanke on the Great Depression, the worst peace-time economic crisis in mature market economies, demonstrated that banks’ closures were a critical factor in making the depression so deep and prolonged.
{"title":"Economics of banks and financial markets (Nobel Memorial Prize in Economic Sciences 2022)","authors":"K. Sonin","doi":"10.32609/0042-8736-2023-2-5-17","DOIUrl":"https://doi.org/10.32609/0042-8736-2023-2-5-17","url":null,"abstract":"The article provides a brief introduction to the research on banks and finan- cial crises, for which the 2022 Nobel prize in economic sciences was awarded. Forty years ago, the works of Diamond and Dybvig highlighted the critical role banks play in maturity transformation and explained why this role makes banking crises a natural byproduct, thus providing a theoretical basis for modern banking regulation. The concurrent work by Bernanke on the Great Depression, the worst peace-time economic crisis in mature market economies, demonstrated that banks’ closures were a critical factor in making the depression so deep and prolonged.","PeriodicalId":45534,"journal":{"name":"Voprosy Ekonomiki","volume":" ","pages":""},"PeriodicalIF":0.8,"publicationDate":"2023-02-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45565828","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-02-01DOI: 10.32609/0042-8736-2023-2-116-126
I. Kalabikhina, G. V. Kalyagin
The article analyzes the use of bibliometric indicators to evaluate the work of scientists. We answer the question of why bibliometric assessments of scientific work have become so widespread in recent decades; also, we consider the pros and cons of such assessments from the point of view of public welfare. The paper gives recommendations for reforming the current system of assessing the effectiveness of scientific work. It is necessary to minimize reporting on publications and citations and not create conditions for a race in the number of citations and articles. Since citations of scientific papers have a delay, the assessment of published articles based on bibliometrics should have a lag of 1 to 5 years, depending on the research area. Publication in a scientific journal should not be the only form of presenting the results of scientific work: conference reports, reports (including grants), monographs, etc. must also be taken into account. For effective organization of science, formal rules alone are not sufficient; informal institutions are no less important, primarily the institution of scientific reputation. In order to stimulate its development in the Russian scientific community, we offer using the formal institution of vicarious liability — the responsibility of employers for violations of employees. Liability, in this case, means the dependence of state funding of an organization on violations of scientific ethics committed by its researchers. Finally, it is necessary to reinforce the significance of the institution of peer review, making this process more public.
{"title":"Citation metrics: To refuse or use?","authors":"I. Kalabikhina, G. V. Kalyagin","doi":"10.32609/0042-8736-2023-2-116-126","DOIUrl":"https://doi.org/10.32609/0042-8736-2023-2-116-126","url":null,"abstract":"The article analyzes the use of bibliometric indicators to evaluate the work of scientists. We answer the question of why bibliometric assessments of scientific work have become so widespread in recent decades; also, we consider the pros and cons of such assessments from the point of view of public welfare. The paper gives recommendations for reforming the current system of assessing the effectiveness of scientific work. It is necessary to minimize reporting on publications and citations and not create conditions for a race in the number of citations and articles. Since citations of scientific papers have a delay, the assessment of published articles based on bibliometrics should have a lag of 1 to 5 years, depending on the research area. Publication in a scientific journal should not be the only form of presenting the results of scientific work: conference reports, reports (including grants), monographs, etc. must also be taken into account. For effective organization of science, formal rules alone are not sufficient; informal institutions are no less important, primarily the institution of scientific reputation. In order to stimulate its development in the Russian scientific community, we offer using the formal institution of vicarious liability — the responsibility of employers for violations of employees. Liability, in this case, means the dependence of state funding of an organization on violations of scientific ethics committed by its researchers. Finally, it is necessary to reinforce the significance of the institution of peer review, making this process more public.","PeriodicalId":45534,"journal":{"name":"Voprosy Ekonomiki","volume":" ","pages":""},"PeriodicalIF":0.8,"publicationDate":"2023-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48132871","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-02-01DOI: 10.32609/0042-8736-2023-1-145-158
S. Paklina
The paper investigates the mechanisms through which companies can gain additional competitive advantages through using a corporate website. We identified statistically significant relationship between financial performance and aggregated metrics of the corporate website based on sample of 1240 European and 1056 Russian companies. The study is implemented in two stages: (1) applying the principal component analysis to conceptualize website metrics and (2) evaluating a regression model with a dummy variable to analyze the relationship between the characteristics of corporate websites and the financial performance of companies. Principal Component Analysis identified two components that reflect the visibility and authority of corporate websites. Regression analysis showed a statistically significant relationship between these characteristics and the company’s revenue. Moreover, for Russian companies we observe that visibility of the company’s website has the highest positive effect on the revenue. On contrary, for European companies’ website’s authority provides the highest increase in its revenue.
{"title":"Corporate website as a strategic resource: Comparative analysis of Russian and European companies","authors":"S. Paklina","doi":"10.32609/0042-8736-2023-1-145-158","DOIUrl":"https://doi.org/10.32609/0042-8736-2023-1-145-158","url":null,"abstract":"The paper investigates the mechanisms through which companies can gain additional competitive advantages through using a corporate website. We identified statistically significant relationship between financial performance and aggregated metrics of the corporate website based on sample of 1240 European and 1056 Russian companies. The study is implemented in two stages: (1) applying the principal component analysis to conceptualize website metrics and (2) evaluating a regression model with a dummy variable to analyze the relationship between the characteristics of corporate websites and the financial performance of companies. Principal Component Analysis identified two components that reflect the visibility and authority of corporate websites. Regression analysis showed a statistically significant relationship between these characteristics and the company’s revenue. Moreover, for Russian companies we observe that visibility of the company’s website has the highest positive effect on the revenue. On contrary, for European companies’ website’s authority provides the highest increase in its revenue.","PeriodicalId":45534,"journal":{"name":"Voprosy Ekonomiki","volume":" ","pages":""},"PeriodicalIF":0.8,"publicationDate":"2023-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42263423","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-02-01DOI: 10.32609/0042-8736-2023-2-127-144
S. Parinov
Economic agents (humans) exchange information and thus can consider each other’s activities. This allows them to coordinate their activities. This study identifies three basic forms of coordination, depending on the communication options between agents: 1) the contractual form, which is possible with direct communications between agents; 2) the stigmergy, possible with indirect communications; 3) the common rulesbased action form, possible in the absence of communications. The presentation of the observed processes of economic coordination as various combinations of these three basic forms corresponds to their description at micro level. Such a micro level representation has signs of a fundamental one, since the proposed three basic forms of coordination fully reflect the diversity of a person’s natural abilities to consider the activities of other people. As an illustration, a description of the known methods of economic coordination (market, hierarchical and network) is presented as combinations of basic forms of coordination. Within the framework of this micro level approach, the features of economic activity are analyzed, which determine the structure and main characteristics of the system of economic coordination processes. The analysis showed that, at the micro level, the processes of economic coordination are a complex hybrid of the three basic forms of coordination. This approach creates a unified methodological basis for the analysis of diverse methods of coordination used in the economy. The results obtained allow one to explore directions for improving coordination processes in the economy.
{"title":"Micro level of economic coordination processes","authors":"S. Parinov","doi":"10.32609/0042-8736-2023-2-127-144","DOIUrl":"https://doi.org/10.32609/0042-8736-2023-2-127-144","url":null,"abstract":"Economic agents (humans) exchange information and thus can consider each other’s activities. This allows them to coordinate their activities. This study identifies three basic forms of coordination, depending on the communication options between agents: 1) the contractual form, which is possible with direct communications between agents; 2) the stigmergy, possible with indirect communications; 3) the common rulesbased action form, possible in the absence of communications. The presentation of the observed processes of economic coordination as various combinations of these three basic forms corresponds to their description at micro level. Such a micro level representation has signs of a fundamental one, since the proposed three basic forms of coordination fully reflect the diversity of a person’s natural abilities to consider the activities of other people. As an illustration, a description of the known methods of economic coordination (market, hierarchical and network) is presented as combinations of basic forms of coordination. Within the framework of this micro level approach, the features of economic activity are analyzed, which determine the structure and main characteristics of the system of economic coordination processes. The analysis showed that, at the micro level, the processes of economic coordination are a complex hybrid of the three basic forms of coordination. This approach creates a unified methodological basis for the analysis of diverse methods of coordination used in the economy. The results obtained allow one to explore directions for improving coordination processes in the economy.","PeriodicalId":45534,"journal":{"name":"Voprosy Ekonomiki","volume":" ","pages":""},"PeriodicalIF":0.8,"publicationDate":"2023-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44776884","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-02-01DOI: 10.32609/0042-8736-2023-2-100-115
E. Romanov
In the current geopolitical situation, Russian scientists may face difficulties in publishing the results of their research in foreign journals indexed in leading scientometric databases. Until recently, the productivity of scientific activity of Russian universities was mainly assessed by the number of articles indexed in Scopus and Web of Science, which we consider in the context of the introduction of “academic capitalism”. In particular, in the updated version of the state program “Scientific and Technological Development of the Russian Federation”, one of the targets assumes that Russia will take the 5th place in the world by 2030 in terms of the proportion of articles indexed in international databases. We evaluate the realism of achieving this indicator relative to the number of articles indexed in Scopus. The necessity to change the approach to the assessment of the productivity of scientific activity using the concept of “academic socialism” is substantiated. In the framework of this concept, it is proposed to develop a state program for expanding the number of Russian journals indexed in the world scientometric databases with a guarantee of financial support for the implementation of the Diamond Open Access model — no fee for publication or processing of the article and fully open access to it.
在当前的地缘政治形势下，俄罗斯科学家可能难以将他们的研究成果发表在被主要科学计量数据库收录的外国期刊上。直到最近，俄罗斯大学的科学活动生产力主要是通过Scopus和Web of Science索引的文章数量来评估的，我们认为这是在引入“学术资本主义”的背景下进行的。特别是，在“俄罗斯联邦科学技术发展”国家计划的更新版本中，其中一个目标是，到2030年，俄罗斯在国际数据库中收录的文章比例将达到世界第5位。我们评估了实现这一指标的现实性，相对于Scopus索引的文章数量。论证了用“学术社会主义”概念改变科学活动生产力评价方法的必要性。在这一概念的框架内，建议制定一项国家计划，以扩大在世界科学计量数据库中被索引的俄罗斯期刊的数量，并保证为实施钻石开放获取模式提供财政支持——不收取文章的出版或处理费用，并完全开放获取。
{"title":"Publication activity of Russian universities: From “academic capitalism” to “academic socialism”","authors":"E. Romanov","doi":"10.32609/0042-8736-2023-2-100-115","DOIUrl":"https://doi.org/10.32609/0042-8736-2023-2-100-115","url":null,"abstract":"In the current geopolitical situation, Russian scientists may face difficulties in publishing the results of their research in foreign journals indexed in leading scientometric databases. Until recently, the productivity of scientific activity of Russian universities was mainly assessed by the number of articles indexed in Scopus and Web of Science, which we consider in the context of the introduction of “academic capitalism”. In particular, in the updated version of the state program “Scientific and Technological Development of the Russian Federation”, one of the targets assumes that Russia will take the 5th place in the world by 2030 in terms of the proportion of articles indexed in international databases. We evaluate the realism of achieving this indicator relative to the number of articles indexed in Scopus. The necessity to change the approach to the assessment of the productivity of scientific activity using the concept of “academic socialism” is substantiated. In the framework of this concept, it is proposed to develop a state program for expanding the number of Russian journals indexed in the world scientometric databases with a guarantee of financial support for the implementation of the Diamond Open Access model — no fee for publication or processing of the article and fully open access to it.","PeriodicalId":45534,"journal":{"name":"Voprosy Ekonomiki","volume":" ","pages":""},"PeriodicalIF":0.8,"publicationDate":"2023-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41458167","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-02-01DOI: 10.32609/0042-8736-2023-2-83-99
V. Zuev, E. Ostrovskaya, V. Skryabina
The authors explore the impact of crises on the dynamics of trade between partners within regional trade agreements (RTAs) with the aim to determine whether RTAs have a stabilizing effect on foreign trade. RTAs have become one of the main instruments of trade policy in recent decades. It is generally recognized that RTAs do stimulate trade at the time of stability and growth. It is logical to assume that meeting commitments between RTA partners should lead to the preservation of trade flows between them in the event of a crisis. However, this statement requires empirical confirmation. The study examines the effects of RTA networks for the three most active RTAs’ participants located on different continents — the EU, Chile and the Republic of Korea. The analysis of dynamics of these countries trade flows indicates a clear trend of strengthening trade interaction between RTA partners during crisis periods. The focus of the methodology of the study lies in computations of three trade indices: export significance index, trade intensity index and symmetric trade introversion index. They were calculated for the totality of trade partners for the EU, Chile and the Republic of Korea from 2005 to 2020 in order to identify the dominant tendencies of trade flows during periods of economic shocks of recent decades (the financial crisis of 2008—2009 and the crisis caused by the pandemic of 2019—2021). The authors come to the conclusion that for the studied countries and the EU RTAs act as a damper that reduces the negative impact of crises on foreign trade. Trade between RTA countries at the time of a crisis either decreased to a lesser extent compared to trade between countries that do not have RTA, or recovered faster. This empirically confirms yet another significant importance of RTAs. The authors suggest to make similar calculations for other countries and RTAs to support the revealed pattern.
{"title":"Trade damper effect of regional trade agreements","authors":"V. Zuev, E. Ostrovskaya, V. Skryabina","doi":"10.32609/0042-8736-2023-2-83-99","DOIUrl":"https://doi.org/10.32609/0042-8736-2023-2-83-99","url":null,"abstract":"The authors explore the impact of crises on the dynamics of trade between partners within regional trade agreements (RTAs) with the aim to determine whether RTAs have a stabilizing effect on foreign trade. RTAs have become one of the main instruments of trade policy in recent decades. It is generally recognized that RTAs do stimulate trade at the time of stability and growth. It is logical to assume that meeting commitments between RTA partners should lead to the preservation of trade flows between them in the event of a crisis. However, this statement requires empirical confirmation. The study examines the effects of RTA networks for the three most active RTAs’ participants located on different continents — the EU, Chile and the Republic of Korea. The analysis of dynamics of these countries trade flows indicates a clear trend of strengthening trade interaction between RTA partners during crisis periods. The focus of the methodology of the study lies in computations of three trade indices: export significance index, trade intensity index and symmetric trade introversion index. They were calculated for the totality of trade partners for the EU, Chile and the Republic of Korea from 2005 to 2020 in order to identify the dominant tendencies of trade flows during periods of economic shocks of recent decades (the financial crisis of 2008—2009 and the crisis caused by the pandemic of 2019—2021). The authors come to the conclusion that for the studied countries and the EU RTAs act as a damper that reduces the negative impact of crises on foreign trade. Trade between RTA countries at the time of a crisis either decreased to a lesser extent compared to trade between countries that do not have RTA, or recovered faster. This empirically confirms yet another significant importance of RTAs. The authors suggest to make similar calculations for other countries and RTAs to support the revealed pattern.","PeriodicalId":45534,"journal":{"name":"Voprosy Ekonomiki","volume":" ","pages":""},"PeriodicalIF":0.8,"publicationDate":"2023-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47847914","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-02-01DOI: 10.32609/0042-8736-2023-2-43-60
S. Freije, M. Matytsin, D. Popova
The outbreak of COVID-19 has had severe negative economic impacts on households and businesses in Russia. Russia’s GDP declined by 2,7% in 2020. To mitigate the adverse impacts of the pandemic, in March—June 2020 the govern- ment implemented a number of fiscal and social policy measures aimed at support- ing businesses, employment and incomes of vulnerable groups of the population. This paper presents the results of the impact assessment of the COVID-19 crisis and the related policy interventions on the income distribution and poverty in Russia in 2020. The analysis is based on the tax-benefit microsimulation model for Russia, which allows for assessing the redistributive effects of direct and indirect taxes and transfers in Russia at the federal and regional levels. We find that the net effect of the crisis and policy interventions was strongly progressive at the bottom of the income distribution and equalizing across regions.
{"title":"The distributional impacts of the COVID-19 crisis and policy response in Russia","authors":"S. Freije, M. Matytsin, D. Popova","doi":"10.32609/0042-8736-2023-2-43-60","DOIUrl":"https://doi.org/10.32609/0042-8736-2023-2-43-60","url":null,"abstract":"The outbreak of COVID-19 has had severe negative economic impacts on households and businesses in Russia. Russia’s GDP declined by 2,7% in 2020. To mitigate the adverse impacts of the pandemic, in March—June 2020 the govern- ment implemented a number of fiscal and social policy measures aimed at support- ing businesses, employment and incomes of vulnerable groups of the population. This paper presents the results of the impact assessment of the COVID-19 crisis and the related policy interventions on the income distribution and poverty in Russia in 2020. The analysis is based on the tax-benefit microsimulation model for Russia, which allows for assessing the redistributive effects of direct and indirect taxes and transfers in Russia at the federal and regional levels. We find that the net effect of the crisis and policy interventions was strongly progressive at the bottom of the income distribution and equalizing across regions.","PeriodicalId":45534,"journal":{"name":"Voprosy Ekonomiki","volume":" ","pages":""},"PeriodicalIF":0.8,"publicationDate":"2023-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48154449","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-01-03DOI: 10.32609/0042-8736-2023-1-146-159
A. Tanasova, E. Sokolova, I. Shandra, A. V. Chigireva
The high level of income inequality of the population is a long-term problem in the world. The pandemic of 2020 and the growth of geopolitical tensions in 2022 increase the urgency of finding its solution. Inequality is a multifaceted phenomenon determined by various factors — from differences in the structure of economies to the specifics of the mentality and traditions of a particular state. As a result, there are no unified approaches to reducing inequality. This article analyzes the relationship of income inequality in Russia with the parametersof fiscal policy and the ruble exchange rate at different stages of economic development. It is shown that in certain periods taxes are connected differentlywith income inequality of the population in Russia. The important role of social spending in its reducing is shown; such dependence may be explained by the ruble exchange rate and its linkages with the budget policy. The article is setting stage for further analysis of the problem.
{"title":"Tax and foreign exchange factors of inequality (To posing a problem)","authors":"A. Tanasova, E. Sokolova, I. Shandra, A. V. Chigireva","doi":"10.32609/0042-8736-2023-1-146-159","DOIUrl":"https://doi.org/10.32609/0042-8736-2023-1-146-159","url":null,"abstract":"The high level of income inequality of the population is a long-term problem in the world. The pandemic of 2020 and the growth of geopolitical tensions in 2022 increase the urgency of finding its solution. Inequality is a multifaceted phenomenon determined by various factors — from differences in the structure of economies to the specifics of the mentality and traditions of a particular state. As a result, there are no unified approaches to reducing inequality. This article analyzes the relationship of income inequality in Russia with the parametersof fiscal policy and the ruble exchange rate at different stages of economic development. It is shown that in certain periods taxes are connected differentlywith income inequality of the population in Russia. The important role of social spending in its reducing is shown; such dependence may be explained by the ruble exchange rate and its linkages with the budget policy. The article is setting stage for further analysis of the problem.","PeriodicalId":45534,"journal":{"name":"Voprosy Ekonomiki","volume":" ","pages":""},"PeriodicalIF":0.8,"publicationDate":"2023-01-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44534834","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-01-03DOI: 10.32609/0042-8736-2023-1-26-44
S. Moiseev
The concept of monetary aggregates has always followed changes in monetary policy. Its development reflects the victories and mistakes of monetary authorities. Although they played the roles of operational and intermediate targets in the past, today they are used in the analysis of the banking sector and financial stability. Some economists believe that broad monetary aggregates such as Divisia help explain macroeconomic dynamics and should be included in the central bank’s interest rate decision rules. In addition, functional monetary aggregates are proposed as an alternative, behind which there are complex calculations. In the near future, the introduction of central bank digital currencies must lead to a redefinition of the monetary base and simple aggregates.
{"title":"Monetary aggregation: Concept, critics and modern alternatives","authors":"S. Moiseev","doi":"10.32609/0042-8736-2023-1-26-44","DOIUrl":"https://doi.org/10.32609/0042-8736-2023-1-26-44","url":null,"abstract":"The concept of monetary aggregates has always followed changes in monetary policy. Its development reflects the victories and mistakes of monetary authorities. Although they played the roles of operational and intermediate targets in the past, today they are used in the analysis of the banking sector and financial stability. Some economists believe that broad monetary aggregates such as Divisia help explain macroeconomic dynamics and should be included in the central bank’s interest rate decision rules. In addition, functional monetary aggregates are proposed as an alternative, behind which there are complex calculations. In the near future, the introduction of central bank digital currencies must lead to a redefinition of the monetary base and simple aggregates.","PeriodicalId":45534,"journal":{"name":"Voprosy Ekonomiki","volume":"1 1","pages":""},"PeriodicalIF":0.8,"publicationDate":"2023-01-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41435084","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-01-03DOI: 10.32609/0042-8736-2023-1-59-85
V. Gimpelson, R. Kapeliushnikov
In the study we explore the evolution of the job structure in the Russian economy during the first 20 years of this century. Does it change through a consequent substitution of relatively worst (in terms of quality) jobs by better jobs? Or through a destruction of middle quality jobs? Or do we observe stagnation and conservation of the job structure? Any structural change of this sort is usually triggered by technological progress that shapes demand for labor of different quality and complexity. In search for clues to these questions, the authors use large data sets which cover two sub-periods divided by the 2008—2009 crisis. The estimates presented in the paper allow reject the polarization hypothesis, and they document a fast upgrade of the job structure during the first sub-period and a much lower upgrade during the second one. Apparently, the risks of job polarization are likely to be minimal until the economic growth is recovered and the movement to the technological frontier is accelerated.
{"title":"Job structure evolution in Russia: Polarization, upgrading, stalemate","authors":"V. Gimpelson, R. Kapeliushnikov","doi":"10.32609/0042-8736-2023-1-59-85","DOIUrl":"https://doi.org/10.32609/0042-8736-2023-1-59-85","url":null,"abstract":"In the study we explore the evolution of the job structure in the Russian economy during the first 20 years of this century. Does it change through a consequent substitution of relatively worst (in terms of quality) jobs by better jobs? Or through a destruction of middle quality jobs? Or do we observe stagnation and conservation of the job structure? Any structural change of this sort is usually triggered by technological progress that shapes demand for labor of different quality and complexity. In search for clues to these questions, the authors use large data sets which cover two sub-periods divided by the 2008—2009 crisis. The estimates presented in the paper allow reject the polarization hypothesis, and they document a fast upgrade of the job structure during the first sub-period and a much lower upgrade during the second one. Apparently, the risks of job polarization are likely to be minimal until the economic growth is recovered and the movement to the technological frontier is accelerated.","PeriodicalId":45534,"journal":{"name":"Voprosy Ekonomiki","volume":" ","pages":""},"PeriodicalIF":0.8,"publicationDate":"2023-01-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42515615","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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