Debates on monetary policy issues and economic situation: Searching for constructive comments

2016 ◽  
pp. 25-43 ◽  
Author(s):  
A. Mogilat ◽  
Y. Achkasov ◽  
A. Egorov ◽  
A. Klimovets ◽  
S. Donets
Keyword(s):  
Monetary Policy ◽  
Business Cycle ◽  
Policy Analysis ◽  
Economic Situation ◽  
Policy Issues ◽  
Macroeconomic Conditions

The article discusses approaches and instruments used in the Bank of Russia public analytical materials for analysis and forecast of macroeconomic conditions and monetary indicators. The authors focus on indicators of business cycle and monetary conditions, as crucial for monetary policy analysis. The attention is paid to issues most frequently discussed in scientific and expert literature, specifically, to new indicators and models presented in the Bank of Russia Monetary Policy Reports in 2015.

scholarly journals Modern Monetary Policy: Relevant criticism or Misunderstanding in the expert community?

2015 ◽  
pp. 128-142 ◽  
Author(s):  
P. Badasen ◽  
A. Isakov ◽  
A. Khazanov
Keyword(s):  
Monetary Policy ◽  
Common Point ◽  
Point Of View ◽  
Economic Situation ◽  
Policy Issues ◽  
Current Economic Situation ◽  
Expert Community

In this paper we provide the analysis of monetary policy issues on which the expert community and the authorities do not have common point of view. We suggest arguments supporting the Bank of Russia’s position regarding the interpretation of current economic situation and we also respond to the critique concerning the inconsistency and the lack of transparency of monetary policy.

Time‐Varying Response of Monetary Policy to Macroeconomic Conditions

1999 ◽  
Vol 65 (3) ◽  
pp. 584-593
Author(s):  
Chung‐Hua Shen ◽  
David R. Hakes ◽  
Kenneth Brown
Keyword(s):  
Monetary Policy ◽  
Time Varying ◽  
Macroeconomic Conditions

EXPRESS: Households under Economic Change: How Micro- and Macroeconomic Conditions Shape Grocery Shopping Behavior

2021 ◽  
pp. 002224292110368
Author(s):  
Thomas P. Scholdra ◽  
Julian R. K. Wichmann ◽  
Maik Eisenbeiss ◽  
Werner J. Reinartz
Keyword(s):  
Business Cycle ◽  
Shopping Behavior ◽  
Economic Conditions ◽  
Grocery Shopping ◽  
National Brands ◽  
Macroeconomic Conditions ◽  
Spending Behavior ◽  
Shopping Basket ◽  
The Business Cycle ◽  
Structural Shifts

Economic conditions may significantly affect households' shopping behavior and, by extension, retailers' and manufacturers' firm performance. By explicitly distinguishing between two basic types of economic conditions—micro conditions in terms of households' personal income and macro conditions in terms of the business cycle—this study analyzes how households adjust their grocery shopping behavior. The authors observe more than 5,000 households over eight years and analyze shopping outcomes in terms of what, where, and how much they shop and spend. Results show that micro and macro conditions substantially influence shopping outcomes, but in very different ways. Microeconomic changes lead households to adjust primarily their overall purchase volume—that is, after losing income, households buy fewer products and spend less in total. In contrast, macroeconomic changes cause pronounced structural shifts in households' shopping basket allocation and spending behavior. Specifically, during contractions, households shift purchases toward private labels while also buying and consequently spending more than during expansions. During expansions, however, households increasingly purchase national brands but keep their total spending constant. The authors discuss psychological and sociological mechanisms that can explain the differential effects of micro and macro conditions on shopping behavior and develop important diagnostic and normative implications for retailers and manufacturers.

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