Does Patent Strategy Shape the Long-Run Supply of Public Knowledge? Evidence from Human Genetics

The method of analyzing and modeling cyclical fluctuations of economy initiated by F. Kydland and E. Prescott - the 2004 Nobel Prize winners in Economics - is considered in the article. They proposed a new business cycle theory integrating the theory of long-run economic growth as well as the microeconomic theory of consumers and firms behavior. Simple version of general dynamic and stochastic macroeconomic model is described. The given approach which was formulated in their fundamental work "Time to Build and Aggregate Fluctuations" (1982) gave rise to an extensive research program and is still used as a basic instrument for investigating cyclical processes in economy nowadays.

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Forming Sources of Long-run Growth: How to Understand Them?

Voprosy Ekonomiki ◽

10.32609/0042-8736-2014-3-4-20 ◽

2014 ◽

pp. 4-20 ◽

Cited By ~ 10

Author(s):

G. Idrisov ◽

S. Sinelnikov-Murylev

Keyword(s):

Economic Growth ◽

Growth Rate ◽

Economic Policy ◽

Business Cycle ◽

Capital Markets ◽

Productivity Growth ◽

Government Spending ◽

Long Run ◽

Accelerate Growth ◽

Budget Institutions

The paper analyzes the inconsequence and problems of Russian economic policy to accelerate economic growth. The authors consider three components of growth rate (potential, Russian business cycle and world business cycle components) and conclude that in order to pursue an effective economic policy to accelerate growth, it has to be addressed to the potential (long-run) growth component. The main ingredients of this policy are government spending restructuring and budget institutions reform, labor and capital markets reforms, productivity growth.

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The Problem of Identifying and Modeling the Relationship between Monetary Factor and Inflation in the Russian Economy

Voprosy Ekonomiki ◽

10.32609/0042-8736-2008-7-61-76 ◽

2008 ◽

pp. 61-76

Author(s):

A. Porshakov ◽

A. Ponomarenko

Keyword(s):

Money Supply ◽

Money Demand ◽

Russian Economy ◽

Long Run ◽

Complex Approach ◽

Wide Range ◽

Long Time ◽

The Relationship ◽

Supply Side Factors

The role of monetary factor in generating inflationary processes in Russia has stimulated various debates in social and scientific circles for a relatively long time. The authors show that identification of the specificity of relationship between money and inflation requires a complex approach based on statistical modeling and involving a wide range of indicators relevant for the price changes in the economy. As a result a model of inflation for Russia implying the decomposition of inflation dynamics into demand-side and supply-side factors is suggested. The main conclusion drawn is that during the recent years the volume of inflationary pressures in the Russian economy has been determined by the deviation of money supply from money demand, rather than by money supply alone. At the same time, monetary factor has a long-run spread over time impact on inflation.

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