The management of the exchange rate by the Russian authorities obviously lacks both effectiveness and efficiency. "Black Tuesday" has vividly shown how vulnerable the rouble is to speculative attacks. In this article, a "classical" proposal is evoked and is discussed as an alternative to the...

Mit altgedienten Sprachbildern sollte man sparsam umgehen. Und doch: Die von Jerome Powell, dem Chef der Federal Reserve (Fed), unlängst vorgeschlagene zukünftige Zielzone für Inflationsraten, möglicherweise verbunden mit einer Anhebung der durchschnittlichen, von der Fed angestrebten...

The measures taken so far to move towards currency convertibility and combat inflation in Russia and the other CIS countries are based largely on a three-stage programme formulated by the IMF. The following article presents alternatives and compares them with the IMF concept from the point of...