MACROECONOMIC BALANCE AND NEUTRAL MONETARY POLICY

The problem of macroeconomic equilibrium as a theoretical basis for monetary policy has been considered. In this regard, the concept of long-term equilibrium and money neutrality has been criticized. The position on the non-equilibrium nature of economic development has been supported. As a result,...

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Autor principal: V. K. Krylov
Formato: article
Lenguaje:RU
Publicado: Publishing House of the State University of Management 2020
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Acceso en línea:https://doaj.org/article/5f785158ca214176ac3b45d09dff4b9b
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spelling oai:doaj.org-article:5f785158ca214176ac3b45d09dff4b9b2021-12-03T07:43:33ZMACROECONOMIC BALANCE AND NEUTRAL MONETARY POLICY1816-42772686-841510.26425/1816-4277-2020-8-149-154https://doaj.org/article/5f785158ca214176ac3b45d09dff4b9b2020-09-01T00:00:00Zhttps://vestnik.guu.ru/jour/article/view/2361https://doaj.org/toc/1816-4277https://doaj.org/toc/2686-8415The problem of macroeconomic equilibrium as a theoretical basis for monetary policy has been considered. In this regard, the concept of long-term equilibrium and money neutrality has been criticized. The position on the non-equilibrium nature of economic development has been supported. As a result, it has been concluded that it is impossible to switch to a neutral monetary policy, and therefore to establish a neutral key rate. The interest theory of K. Wicksell, his concepts of monetary and natural interest rates has been characterized. The futility of attempts to quantify the neutral interest rate has been shown. It has been concluded that the absence of radical changes in monetary policy carries with it the risk of permanent economic stagnation.V. K. KrylovPublishing House of the State University of Managementarticleeconomic equilibriumeconomic potentialkey rateliquidity absorptionmacroeconomic equilibriummoney neutralityneutral interest rateneutral monetary policySociology (General)HM401-1281Economics as a scienceHB71-74RUВестник университета, Vol 0, Iss 8, Pp 149-154 (2020)
institution DOAJ
collection DOAJ
language RU
topic economic equilibrium
economic potential
key rate
liquidity absorption
macroeconomic equilibrium
money neutrality
neutral interest rate
neutral monetary policy
Sociology (General)
HM401-1281
Economics as a science
HB71-74
spellingShingle economic equilibrium
economic potential
key rate
liquidity absorption
macroeconomic equilibrium
money neutrality
neutral interest rate
neutral monetary policy
Sociology (General)
HM401-1281
Economics as a science
HB71-74
V. K. Krylov
MACROECONOMIC BALANCE AND NEUTRAL MONETARY POLICY
description The problem of macroeconomic equilibrium as a theoretical basis for monetary policy has been considered. In this regard, the concept of long-term equilibrium and money neutrality has been criticized. The position on the non-equilibrium nature of economic development has been supported. As a result, it has been concluded that it is impossible to switch to a neutral monetary policy, and therefore to establish a neutral key rate. The interest theory of K. Wicksell, his concepts of monetary and natural interest rates has been characterized. The futility of attempts to quantify the neutral interest rate has been shown. It has been concluded that the absence of radical changes in monetary policy carries with it the risk of permanent economic stagnation.
format article
author V. K. Krylov
author_facet V. K. Krylov
author_sort V. K. Krylov
title MACROECONOMIC BALANCE AND NEUTRAL MONETARY POLICY
title_short MACROECONOMIC BALANCE AND NEUTRAL MONETARY POLICY
title_full MACROECONOMIC BALANCE AND NEUTRAL MONETARY POLICY
title_fullStr MACROECONOMIC BALANCE AND NEUTRAL MONETARY POLICY
title_full_unstemmed MACROECONOMIC BALANCE AND NEUTRAL MONETARY POLICY
title_sort macroeconomic balance and neutral monetary policy
publisher Publishing House of the State University of Management
publishDate 2020
url https://doaj.org/article/5f785158ca214176ac3b45d09dff4b9b
work_keys_str_mv AT vkkrylov macroeconomicbalanceandneutralmonetarypolicy
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