English Abstract: The discrepancy between the wage index and the labor productivity index is often seen as a threat to … and consumption sites; unsatisfactory labor productivity as a measure of the contribution of labor costs to production …

the Bank of Russia acts as if it had two conflicting targets: inflation stabilization and low real exchange rate, or … for forecasting the medium run dynamics of inflation and nominal exchange rate. It is also shown that commonly used … quadratic loss function that models inflation and real sector stabilization is not relevant in depicting the Bank’s behavior. …