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on Confederation of Independent States |
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Issue of 2017‒06‒11
sixteen papers chosen by |
| By: | Drygalla, Andrej |
| Abstract: | Russian monetary policy has been challenged by large and continuous private capital outflows and a sharp drop in oil prices during 2014, with both ongoings having put a significant depreciation pressure on the ruble and having led the central bank to eventually give up its exchange rate management strategy. Against this background, this paper estimates a small open economy model for Russia, featuring an oil price sector and extended by a specification of the foreign exchange market to correctly account for systematic central bank interventions. We find that shocks to the oil price and private capital flows substantially affect domestic variables such as inflation, output and the exchange rate. Simulations of the model for the estimated actual strategy and five alternative regimes suggest that the vulnerability of the Russian economy to external shocks can substantially be lowered by adopting some form of an inflation targeting strategy. Foreign exchange intervention-based policy strategies to target the nominal exchange rate or the ruble price of oil, on the other hand, prove inferior to the policy in place. |
| Keywords: | monetary policy,exchange rate interventions,oil price,capital flows |
| JEL: | E52 F31 F41 G15 |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:iwhdps:142017&r=cis |
| By: | Generalova Svetlana Vladimirovna (Russian Presidential Academy of National Economy and Public Administration- Stolypin Volga Region Institute of administration) |
| Abstract: | The necessity in a geo-economic orientation of the state of instability in the strategic planning of the Russian Federation on the diversification of the economy, representing the process of development of new industries in order to increase the efficiency of production in the Russian Federation, economic gain. |
| Keywords: | Diversification of the economy, strategic management, geo-economic instability |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:ppaper:gen05&r=cis |
| By: | Generalova Svetlana Vladimirovna (Russian Presidential Academy of National Economy and Public Administration- Stolypin Volga Region Institute of administration) |
| Abstract: | In the current model of management in the Russian economy with the predominance of extractive industries of energy and raw materials the necessity of its restructuring based on the creation of new industrial basis for the development of branches and spheres of national economy. In this regard, considers the need to focus on forming the system of strategic planning for the effective use of resources for the modernization of the economy on the basis of new technological structure. |
| Keywords: | Modernization, strategic planning, national economy, technological structure. |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:ppaper:gen01&r=cis |
| By: | Generalova Svetlana Vladimirovna (Russian Presidential Academy of National Economy and Public Administration- Stolypin Volga Region Institute of administration) |
| Abstract: | In article the essence and purpose of diversification of agricultural products in the context of import substitution. Justified causes that gave rise to the need for deepening the process of diversification of agricultural products, taking into account the requirements of import substitution in Russia. CLASSIFICATION: |
| Keywords: | Diversification of types of diversification, import substitution, agricultural products, agriculture. |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:ppaper:gen04&r=cis |
| By: | Generalova Svetlana Vladimirovna (Russian Presidential Academy of National Economy and Public Administration- Stolypin Volga Region Institute of administration) |
| Abstract: | The article reveals the essence and purpose of the diversification of agricultural production in the conditions of import substitution. Settle the causes that gave rise to the need to deepen the process of diversification of agricultural production to meet the requirements of import substitution in Russia. |
| Keywords: | diversification, import substitution, agricultural products. |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:ppaper:gen06&r=cis |
| By: | Generalova Svetlana Vladimirovna (Russian Presidential Academy of National Economy and Public Administration- Stolypin Volga Region Institute of administration) |
| Abstract: | The article presents the results of the economic analysis of the structure and dynamics of the imports of foodstuffs and agricultural raw materials. This analysis allowed us to conclude that currently there is a high share of import of agricultural products and the overall import dependence of the agro-food complex, which necessitates a policy of accelerated import substitution. |
| Keywords: | Import substitution, import dependence, import share, agro food complex, food security, food imports and agricultural raw materials |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:ppaper:gen03&r=cis |
| By: | Generalova Svetlana Vladimirovna (Russian Presidential Academy of National Economy and Public Administration- Stolypin Volga Region Institute of administration) |
| Abstract: | The article reveals the essence and purpose of the diversification of agricultural production in the conditions of import substitution. Settle the causes that gave rise to the need to deepen the process of diversification of agricultural production to meet the requirements of import substitution in Russia |
| Keywords: | diversification, import substitution, agricultural products. |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:rnp:ppaper:gen02&r=cis |
| By: | Andrea Ascani; Riccardo Crescenzi; Simona Iammarino |
| Abstract: | This article investigates how the location behavior of Multinational Enterprises (MNEs) is shaped by the economic institutions of the host countries. The analysis covers a wide set of geographically proximate economies with different degrees of integration with the ‘Old’ 15 European Union (EU) members: New Member States, Accession and Candidate Countries, as well as European Neighborhood Policy (ENP) countries and the Russian Federation. The article aims to shed new light on the heterogeneity of MNE preferences for the host countries’ regulatory settings (including labor market and business regulation), legal aspects (i.e. protection of property rights and contract enforcement) and the weight of the government in the economy. By employing data on 6,888 greenfield investment projects, the random-coefficient Mixed Logit analysis shows that, while the quality of the national institutional framework is generally beneficial for the attraction of foreign investment, MNEs preferences over economic institutions are highly heterogeneous across sectors and business functions. |
| Keywords: | multinational enterprises; economic institutions; location choice; European Union |
| JEL: | F23 L20 P33 R30 |
| Date: | 2016–06–06 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:65496&r=cis |
| By: | Agne Paliokaite (Visionary Analytics); Elena González Verdesoto (European Commission/DG JRC) |
| Abstract: | The 2016 series of RIO Country Reports analyse and assess the policy and the national research and innovation system developments in relation to national policy priorities and the EU policy agenda with special focus on ERA and Innovation Union. The executive summaries of these reports put forward the main challenges of the research and innovation systems. |
| Keywords: | R&I system, R&I policy, ERA, innovation union, European Semester analysis, Lithuania |
| JEL: | I20 O30 Z18 |
| Date: | 2017–05 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc105889&r=cis |
| By: | Gundars Kulikovskis (FIDEA (Financial and Management Consulting Company)); Diana Petraityte (FIDEA (Financial and Management Consulting Company)); Stamenov Blagoy (European Commission - DG JRC) |
| Abstract: | The 2016 series of the RIO Country Report analyses and assesses the development and performance of the national research and innovation system of the EU-28 Member States and related policies with the aim of monitoring and evaluating the EU policy implementation as well as facilitating policy learning in the Member States. |
| Keywords: | R&I system, R&I policy, ERA, innovation union, Semester analysis, Latvia |
| JEL: | I20 O30 Z18 |
| Date: | 2017–05 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc105892&r=cis |
| By: | Petr A. Parshakov (National Research University Higher School of Economics); Kseniya O. Baydina (National Research University Higher School of Economics) |
| Abstract: | This study estimates an attendance demand model in a reduced form, with uncertainty as one of the determinants of demand, to test the Uncertainty of Outcome Hypothesis (UOH), using data from the Russian Football Premier League (RFPL). These data fit our requirements for two reasons. First, there are few sellout matches, so demand for tickets in the RFPL is not restricted by stadium capacity. Secondly, there have hitherto been no articles devoted to the study of outcome uncertainty in the RFPL. The results indicate that the UOH does not explain the behavioural pattern of attendees in the RFPL. The dependence between the attendance and uncertainty is found to be U-shaped or even declining. We explain the U-shaped dependence by the visiting team effect; an attendee’s utility in the RFPL depends more on seeing a top team coming to the city than on the uncertainty of the outcome of the match |
| Keywords: | Football, Attendance, the UOH, Uncertainty, Russian Football Premier League |
| JEL: | Z2 D81 |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:hig:wpaper:163/ec/2017&r=cis |
| By: | Kattel Rainer (Tallinn University of Technology); Stamenov Blagoy (European Commission - DG JRC) |
| Abstract: | The 2016 series of the RIO Country Report analyses and assesses the development and performance of the national research and innovation system of the EU-28 Member States and related policies with the aim of monitoring and evaluating the EU policy implementation as well as facilitating policy learning in the Member States. |
| Keywords: | R&I system, R&I policy, ERA, innovation union, Semester analysis, Estonia |
| JEL: | I20 O30 Z18 |
| Date: | 2017–05 |
| URL: | http://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc105895&r=cis |
| By: | Richard S.J. Tol (Department of Economics, University of Sussex; Department of Spatial Economics, Vrije Universiteit Amsterdam; Institute for Environmental Studies, Vrije Universiteit Amsterdam; Tinbergen Institute, Amsterdam; CESifo, Munich) |
| Abstract: | The private benefit of carbon is the value, at the margin, of the energy services provided by the use of fossil fuels. It is the weighted average of the price of energy times the carbon dioxide emission coefficient, with energy used as weights. The private benefits is here estimated, for the first time, at $411/tCO2. The private benefit is lowest for coal use in industry and highest for residential electricity; it is lowest in Kazakhstan and highest in Norway. The private benefit of carbon is much higher than the social cost of carbon. |
| Keywords: | private benefit of carbon; social cost of carbon; climate policy |
| JEL: | Q54 |
| Date: | 2017–05 |
| URL: | http://d.repec.org/n?u=RePEc:sus:susewp:0717&r=cis |
| By: | Ginters Buss (Bank of Latvia) |
| Abstract: | This paper integrates the alternating-offer wage bargaining (AOB) in a fully-fledged New Keynesian open economy model, and estimates it to the Latvian data. Further on, the paper studies the model's properties and compares them to alternative specifications for labour market modelling, i.e. the Nash wage bargaining with both Taylor-type wage rigidity and without exogenously imposed wage inertia, a reduced-form sharing rule, and a reduced-form wage rule. The goal of the paper is to choose a labour market modelling specification that suits best the needs of the central bank of Latvia in terms of macroeconomic modelling and forecasting. The results indicate that the AOB model suits the Latvian labour market well. The paper concludes with a simulation of economic effects from a permanent increase in the minimum-to-average wage ratio, as observed in Latvia, and finds potentially large losses of employment and output. |
| Keywords: | alternating-offer bargaining, DSGE model, forecasting, minimum wage |
| JEL: | E0 E2 E3 F4 |
| Date: | 2017–05–25 |
| URL: | http://d.repec.org/n?u=RePEc:ltv:wpaper:201701&r=cis |
| By: | Nizalova, Olena Y. (University of Kent); Norton, Edward C. (University of Michigan) |
| Abstract: | With periodic recessions and the rising costs of health care, it is important to know how labor market participation and insecurity affects health outcomes. Yet, this line of research faces a number of methodological challenges which this paper aims to address. We turn to Ukraine's experience after the col-lapse of the USSR to investigate how exogenous labor market shocks during severe recessions affect men's body mass index (BMI) and health-related behaviors. We use growth curve models to analyze BMI trajectories from 2003 to 2007 and find that past exogenous shocks (e.g., plant closings, bankruptcies, restructuring, and privatization) from 1986 to 2003 significantly change the BMI-age relationship for men. We also find a long-lasting effect on drinking behavior that is decreasing with age, while the effect on the probability of smoking is constant across all ages. At the same time, there is no effect on the probability of engaging in vigorous or moderate physical activity. |
| Keywords: | job loss, labour market exclusion, lay-offs, recession, BMI, growth curve, life course |
| JEL: | I12 J21 J65 |
| Date: | 2017–05 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp10776&r=cis |
| By: | Titus Corlatean (Faculty of Law of Dimitrie Cantemir Christian University in Bucharest) |
| Abstract: | The dynamic of changes of the International Society increased dramatically in the past 50 - 100 years. Fundamental changes touched also the domain of International Law, as created after 1945 by the relevant international actors through the United Nations, Law which regulates the current international relations. Norms and fundamental principles of International Law, considered for a long time as immutable, are subject of serious challenges generated by new balances of power in the world, the complex process of Globalization, by terrorism, illegal migration etc. Temptations for instance to revert back the fundamental acquis of the European Union, such as European integration, fundamental rights and liberties, the moral Judaic Christian foundation of Europe etc. into an updated version of a Europe of sovereign states on Westphalian model became a reality. The reconfiguration of the Global system and the future of knowledge from this point of view will imply a serious effort for the renewal of the fundamental legal concepts, but mainly a new quality and vision of the international political leadership. For generating once again progress, these changes should nevertheless not renounce to what was fundamentally acquired, to the essential principles and values embodied by the Humanity in the new born post War society and its International Norms. |
| Keywords: | knowledge; international society; International Law; international relations; UN Charter; European Union; USA; Russia; predictability; challenges; terrorism; refugees; changes. |
| Date: | 2016–01 |
| URL: | http://d.repec.org/n?u=RePEc:smo:gpaper:010&r=cis |