This paper presents an attempt to find a stable cash demand function in Russia in the period of 2000 thru 2010. The authors assume that the demand for the Ì0 monetary aggregate in Russia has recently been substantially influenced by the advancement of payment innovations, namely bank payment...

The case of the Russian textile and apparel industry is investigated on the?basis of statistical data and data collected from the surveys of enterprise managers. It is shown how lock in the local markets has led to a gradual deterioration of the observed industry. Influential studies of...

Russia’s political background in May was determined by the mounting tension in the top echelons of the political bureaucracy. The sacking of Deputy Prime Minister Vladislav Surkov – one of the authors of the soft authoritarianism of the 2000s – was a manifestation of yet another personnel...

The main event in March which is having long-term political and economic consequences was the accession of Crimea to Russia, based on the results of the referendum conducted on 16 March. It has resulted in the most serious tension in the relations between Russia and Western countries since the...

Distributions of many variables of interest in developed economic and financial markets, including income and wealth, exhibit heavy tails as in the case of Pareto or power laws. Many commonly used income and wealth inequality measures are very sensitive to extremes and outliers generated by...

Empirical analyses on inequality measurement and those in other fields in economics and finance often face the difficulty that the data is correlated, heterogeneous or heavy-tailed in some unknown fashion. The paper focuses on analogues and modifications of the recently developed t-statistic...

This paper describes a dynamic stochastic general equilibrium (DSGE) model for the Russian economy. It takes into account a high dependence of the national economy on the oil export. The model consists of three production sectors: tradable and non-tradable sectors and oil extraction sector. Oil...

This paper is about the bane of the Russian economy: rich oil and gas reserves, which hamper the implementation of structural economic reforms. Oil industry forms the backbone of the Russian economy playing a major role in ensuring revenues of the government budget and the country’s favorable...

Petroleum complex is Russia’s basic economic sector which is playing a leading role in providing the state budget revenues. This paper is dedicated to the main issues of the government petroleum tax policy in Russia. The author analyses the outcome of the implemented petroleum tax reform and...

The austerity vs stimulus discussion among economists and politicians is gaining momentum. Not surprisingly, both parties are actively appealing to the memory of John Maynard Keynes who, indeed, put forth the idea of economic stimulus but never recommended that it be used on a scale as massive...