ASSESSMENT AND PROSPECTS OF THE DEVELOPMENT OF THE LIFT ECONOMY OF UKRAINE

The article assesses the current state of the city elevator industry, analyzes statistical data that reflect the number of overtime workers in accordance with the established norms of time norms of safe operation and non-working elevators. A comparative analysis of the characteristics of typical elevator drives. It is noted that on the basis of the study it is possible to draw the following conclusions and provide recommendations. In the conditions of budget deficit the organizations servicing elevators need to try to find means for updating or modernization of this type of transport independently that will lead to growth of acceleration of terms of performance of technical works. For example, private investment can be such a source of funding. In the absence of sufficient funding, service organizations can lease the necessary equipment. An important issue is to increase the level of training for quality maintenance of elevators. It is necessary to gradually replace elevators that have served their standard service life (first of all, these are elevators that have worked for more than 35 years, then 25 years, and so on). The renewed elevators should be based on modern innovative technologies that would ensure energy savings and be equipped with the latest methods of control, monitoring the technical condition of the elevator system remotely, it will significantly increase the level of quality and speed of service.

Estimating the Impact of Devaluation the Exchange Rate on Inflation: A Cause Study of Iraq Using ARDL Model

The exchange rate tool is one of the most important macroeconomic tools that affect many variables, including the general level of prices, investment, import and export. In the case of a deteriorating economy such as the Iraqi economy, which suffers from a high import rate of final goods and intermediate goods, which are considered inputs to production processes, means exit Foreign exchange to abroad that affects the position of the balance of payments and its imbalance. It is very abnormal for countries to reduce the value of their currency exchange for financing reasons related to financing their public budget deficit without taking into account macroeconomic variables. All of these matters reflect a clear confusion of the fiscal and the monetary policies. The results of the current study by using the ARDL model have proven the direct impact of currency devaluation on inflation.

ONCE AGAIN ABOUT THE NEGATIVE SYNERGY OF THE DESTRUCTIVE POLICY OF THE RUSSIAN MONETARY AUTHORITIES

The article discloses an interconnected set of strategic defects in the regulatory activities of the Bank of Russia in cooperation with the Ministry of Finance, which predetermine the significant contribution of the neoliberal financial and credit policy pursued by them both to the development of an autonomous recession and the aggravation of the coronary crisis in our country. Based on a comparative analysis of the post-default and post-sanction devaluation of the ruble, a conclusion is made about the predominantly negative impact of the latter on the dynamics of Russian GDP and on inflationary processes in the country. The premature transition of the central bank to inflation targeting and, especially, to the free-floating ruble regime, the leading beneficiaries of which are disclosed commodity exporters, financial speculators and the Ministry of Finance, have been critically examined. The continued dominance of the foreign exchange channel in the Bank of Russia’s issuing activities over the credit channel and the inability of the financial authorities to cover the budget deficit through monetary financing are regarded as decisive factors preventing overcoming the coronavirus crisis on the way to a reasonable diversification of the domestic economy. The unjustified transition already in 2021 to a super-tight monetary and fiscal policy, which does not fit into the global practice of anti-crisis regulation, is seen as a kind of renaissance of the false monetarist approach in the activities of leading Russian regulators, their traditional reliance on the quantitative theory of money and the ensuing desire to overcome cost inflation using methods characteristic of combating demand inflation. As the end result of the noted manifestations of the fiasco of the Russian state in the money market, an extremely low coefficient of monetization of the domestic economy is considered, which prevents its breakthrough high-quality growth in the foreseeable future.

Debt to GDP Ratio from the Perspective of MMT

In this note we examine the debt to GDP ratio from the perspective of MMT (Modern Monetary Theory) by a simple macroeconomic model with savings by government bonds instead of money. Mainly we will show the following results. 1) In order to maintain full employment under economic growth, the budget deficit, including interest payments on government bonds, must be positive; and if the budget deficit is smaller than this value, there will be recession with involuntary unemployment. 2) Under full employment the debt to GDP ratio approaches to a finite value over time. 3) In the underemployment case the national income is determined by the budget deficit. 4) The excessive budget deficit causes inflation. 6) In order to recover full employment from recession we need budget deficit larger than that when full employment is maintained. 5) The budget deficit, including interest payments on government bonds, equals the increase of the savings of consumers between periods (generations); and this result holds whether we have full employment or not, whether we have inflation or not. Then, the ratio of the national debt to GDP in a period is smaller than one, and even if one period constitutes of several years, the debt to GDP ratio in a year is finite.

On Budget Deficit under Economic Growth: Towards a Mathematical Model of MMT

Recently, a school of thought called Modern Monetary Theory (MMT) has been attracting attention, but it has not received much theoretical or mathematical analysis. In this paper, we examine the theoretical validity of the MMT argument using an overlapping generations (OLG) model that includes economic growth due to population growth, and give a generally positive evaluation of MMT. The basic idea is that a certain level of continuous budget deficit is necessary to maintain full employment when the economy is growing, that inflation occurs when the budget deficit exceeds that level, that a recession occurs when the budget deficit falls below that level, and involuntary unemployment occurs. In order to recover from a recession, a budget deficit in excess of that level is required, and that deficit need not be covered by a future budget surplus. The same can be said for growth resulting from technological progress.

Latin America in the fight against the Coronavirus crisis: The impact on economic and political stability in the region

The world has entered the third decade of the century, gripped by the global crisis and the COVID-19. These specific conditions have undermined the development and sustainability of the less prepared countries of Latin America and the Caribbean (LCA). The authors show that the COVID-19 pandemic was the largest shock for the LCA countries in the social and economic spheres. Before the pandemic, the LCA states had rather modest indicators of economic development. They were strongly influenced by external factors of protectionism opposition to the free trade and the looming global economic crisis. They have accumulated deep internal contradictions of social inequality and low domestic demand. The economic situation in the LCA countries has become even more complicated due to the development of a pandemic in 2020-2021: it was characterized by a halt or decline in economic activity, growing budget deficit and public debt, decline in domestic demand for goods and services, decreasing export revenues, declining investments, businesses closure, rising unemployment and poverty. To contain the spread of coronavirus, prevent overstrain of health systems and reduce human losses, the LCA governments took a number of measures to overcome the COVID-19 crisis, which came down to general measures of population social support and direct measures against the spread of the pandemic, including vaccination which has become an issue of utmost importance in the absence of local vaccines and a shortage of purchased vaccines or delivered under the COVAX program. However, as it is shown in the article, the measures taken by the LCA states to protect the population and the economy from the strikes of the pandemic are insufficient; vaccination programs are almost completely dependent on external vaccine manufacturers and international assistance.

Information technologies in corporate training: trends and approaches

Problem and goal. Within the framework of the study, based on the data of the Workplace Learning Report study, specialists from the USA, Canada and other countries, the transformation of corporate training over the past decades was analyzed, the main problems and challenges of companies/enterprises in the process of additional professional training of employees and ways to solve them were identified. The main problems of corporate training at the present time, as in the past, include budget deficit and search for free intervals in the schedules of employees for educational sessions. And the solution was the growth of online training, the use of online platforms, which made it easier to find time in the sche- dule of employees for training, create opportunities for flexible editing of educational content, and for managers it was easier to evaluate additional professional training thanks to the control tools built into online platforms. Methodology. However, it turned out that not all age categories of employees are ready to expand online training: older age workers prefer traditional or mixed training, as opposed to young people. Results. The study found that the degree of digitalization correlates with the size of the company: the comparative effectiveness of digital tools for additional professional education increases with the scale of the system in which they are applied: a deployed digital educational platform requires very few resources to expand to new branches and employees, rather than classical educational formats that require personal participation of teaching staff. Conclusion. The main trends in the development of corporate training in the coming years are described.

Deficit financing approaches and the Nigerian sector’s output

This study examined the effect of deficit financing on Sectorial Output in Nigeria from 1986–2020. The independent variable in the study is deficit financing measured by domestic debt, foreign debt, budget deficit, and Foreign exchange reserve while the dependent variable in the study is Sectorial Output measured by Manufacturing Sector and Services Sector Output. Accordingly, the two models support the ARDL Methodology since they reported mixed integration. The study found that domestic debt has a positive significant effect on Sectorial Output in Nigeria. More so, Foreign Debt has a negative insignificant effect on Manufacturing Sector Output. However, it has a significant effect on the Services Sector Output in Nigeria. Again, the study found that Budget Deficit exerted a positive significant effect on Manufacturing Sector Output. However, it exerted a negative insignificant effect on Services Sector Output. While Foreign Reserve exerted a negative insignificant effect on Manufacturing Sector Output, Foreign Reserve had mixed effects on Services Sector Output; such effect tends to be statistically significant only in the short run. Lastly, the both inflation rate and the interest rate have a mixed effect on Sectorial Output.