ESTIMATION OF INFLUENCE OF NON-MONETARY FACTORS ON INFLATION IN THE RUSSIAN ECONOMY IN 2003-2013
The paper is concerned with issues of influence of non-monetary factors on inflation in the Russian economy in 2003-2013. Based on a production approach a method of estimation of the influence of non-monetary factors on deflator of gross output is proposed. According to the results of estimations, c...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | Russian |
| Published: |
Novosibirsk State University Press
2015-12-01
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| Series: | Vestnik Novosibirskogo Gosudarstvennogo Universiteta. Seriâ: Socialʹno-Èkonomičeskie Nauki |
| Subjects: | |
| Online Access: | https://nsu.ru/ef/vestnik_ngu_ef/2015_4_3 |
| Summary: | The paper is concerned with issues of influence of non-monetary factors on inflation in the Russian economy in 2003-2013. Based on a production approach a method of estimation of the influence of non-monetary factors on deflator of gross output is proposed. According to the results of estimations, cost inflation dominates in Russia in the considered period. This conclusion is proven by considerable contribution of intermediate consumption and wages with sharp reducing contribution of gross profit in dynamic of basic prices. Obtained results reveal inefficiency of traditional monetary restriction for suppression of inflation in the Russian economy. The advisability of stimulating monetary policy harmonized with tariff regulation also follows from this study. |
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| ISSN: | 1818-7862 1818-7862 |