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443–475
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Targeting policy is treated as a marginal capping of seigniorage and government expenditures, respectively. Appropriate policies of stabilization might be performed by the government rather independently due to existence of a distorted and asymmetric financial market in a transition economy. Feasible strategies are represented as solutions to the Bellman equation in the optimal stopping problem for stochastic processes of budget expenditures and government borrowing on the open market. Respective options to stop spending and borrowing prescribe the optimal policy for budget expenditures as well as for seigniorage targeting. Implementation of such a policy is, in essence, an imposition of the call provisions on the government debt, the optimal value of which is equal to the value of the opportunity to borrow at the optimal point. |
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476–499
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The results of the activities of privatized enterprises in East Germany and Russia are analyzed. It is shown that the change of ownership forms in itself, even in combination with massive investments, does not provide a rapid increase in the efficiency of enterprises established within the framework of the command economic system. It is proved that the solution of this problem requires the restructuring of enterprises and the development of new competitive strategies. Discusses the principles of choice of such strategies and examples from Russian practice demonstrates that even in conditions of economic crisis, the company rationally choose their competitive strategies to achieve substantial success and defeat in the domestic markets to foreign competitors. * Игорь Липсиц (Lipsits I.) включен Минюстом в список физлиц, выполняющих функции иностранного агента. |
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500–507
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This article discusses some of the shortcomings of official estimates of the personal savings rate and proposes a method for adjusting these estimates. The adjusted data allow a new look at the accumulated savings of the population and the possibility of using them to Finance the economic recovery in Russia. |
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508–515
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The article considers a set of issues of methodology of calculation of the indicator of saving of the population as one of the important indicators of macroeconomic statistics; proposals for improving the methodology of official statistics of saving and bringing it in line with the fundamental concepts and definitions of the 1993 SNA. |
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516–535
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What are the Russian natural monopolies: the driving forces of the economy, able to bring the country out of a protracted crisis or unwieldy structures that have come out of the planning and administrative system, inhibiting the development of market relations in Russia? The impact of these industries on the economy is especially great in the context of the economic crisis in Russia. Moreover, their economic influence extends beyond our country. The issue of state regulation of the activities of natural monopolies remains acute throughout the years since the beginning of the implementation of economic reforms in Russia. |
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536–546
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The article presents an analysis of the methodology for calculating the indicator of capital accumulation, adopted in domestic statistical practice. The differences between the domestic methodology and the international standard are shown, the possible directions of improving the calculation of capital accumulation are stated. |
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