В 2014 г. добыча нефти в России достигла максимального уровня за период с 1990 г. Вместе с тем происходит очевидное замедление темпов роста добычи нефти и нефтяного...

“Este estudio contiene un detallado análisis de la industria del leasing, con énfasis en la evolución de la actividad en el caso de Colombia. Se evalúa la importancia del leasing en el crecimiento del sector real a través de la inversión en bienes de capital y se demuestra que en esta...

In 2014, Russia’s crude oil output hit its record high since 1990. At the same time, the growth rates of oil produc- tion and oil exports are displaying an obvious slowdown. Besides, some additional negative factors have emerged that impose still more constraints of the oil sector’s further...

В 2013 г. инфляция оказалась выше целевого диапазона (5–6%), установленного на 2013 г. в соответствии с «Основными направлениями денежно-кредитной политики ЦБ РФ на...

This study proposes the adoption of money growth rules as indicator variables of monetary policies by the countries converging to a common currency system, in particular, by the eurozone candidate countries. The analytical framework assumes an inflation target as the ultimate policy goal. The...

The monetarism, as I have tried to outline in this work is based on the ideas of the American professor Milton Friedman, who tried to revitalize and reconfigure the old quantity theory of money. These ideas were transposed and discussed by authors like Ion Pohoață, Tiberiu Brăilean or Al....

This paper studies the wealth channel in China. Using the structural vector autoregression method, we find that a loosening of China’s monetary policy indeed leads to higher asset prices, which in turn are linked to household consumption. However, the importance of the wealth channel as a part...

We measure the amount of central bank seigniorage generated in three economies in transition and inquire to what extent seigniorage ultimately accrues to the government. We relate our findings to the institutional environment of the three countries. We find that, in parallel to the process of...

We measure the amount of central bank seigniorage generated in three economies in transition and inquire to what extent seigniorage ultimately accrues to the government. We relate our findings to the institutional environment of the three countries. We find that, in parallel to the process of...

The Consumer Price Index (CPI) in January 2016 advanced 1.0% (3.9% in January 2015) and the January median one-year ahead expected inflation rate increased 0.3 percentage points to 16.7%, reaching the highest value since February 2015 when the median one-year ahead expected inflation rate was...