While this is typically ignored, the properties of the stochastic process followed by aggregate consumption affect the estimates of the costs of fluctuations. This paper pursues two approaches to modelling aggregate consumption dynamics and to measuring how much society dislikes fluctuations,...

The period of 2014–2016 saw mixed investment dynamics driven by the factors and conditions for (1) recovery from the crisis of 2009–2012 and (2) for Russian economy's adaptation amid restricted access to global capital markets. Russia's investment crisis hit a peak in H1 2009, and fixed...

China's high national savings rate-one of the highest in the world-is at the heart of its external/internal imbalances. High savings finance elevated investment when held domestically, or lead to large external imbalances when they flow abroad. Today, high savings mostly emanate from the...

The well-documented rise in political polarization among the U.S. electorate over the past 20 years has been accompanied by a substantial increase in the effect of partisan bias on survey-based measures of economic expectations. Individuals have a more optimistic view on future economic...

In 2019, growth rates in fixed investments amounted to 1.7 percent relative to the previous year, while the corresponding indicator a year earlier reached the level of 5.4 percent. Despite certain success in the economic recovery growth in the previous two years, the dynamics of main components...

In Q1 2013 the slowdown of the economic growth was determined both by the decrease in the external demand by 4.6% versus the corresponding period of the previous year and the sudden weakening of the internal demand dynamics. In Q1 2013 the indices of the industrial growth and the volumes of...

: Over the period of January–October 2016, the scale of business activity in the Russian economy was determined by the downward trends displayed by external and domestic demand that had emerged in the course of the previous years. The domestic market was negatively affected by the shrinking...

We study whether output responds symmetrically to tax increases and decreases in postwar US data, using the identification strategy in Romer and Romer (2010). We find evidence of important asymmetries: the output response to a tax increase is statistically insignificant, but output shows a...

In October 2015, fixed capital investment came to 94.8% and in January–October – 94.3% against the same indicators last year. In October, the volume of construction constituted 92.1%, commissioning of new living floor space – 87.4% against indicators of October 2014. Prolonged contraction...