Estimation of influence of non-monetary factors on inflation in the Russian economy in 2003-2013
Abstract
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.
About the Authors
V. M. Gilmundinov
Novosibirsk State University, Novosibirsk
Novosibirsk State Technical University, Novosibirsk
Institute of Economics and Industrial Engineering SB RAS, Novosibirsk
Russian Federation
Russian Federation
V. V. Melnikov
Novosibirsk State Technical University, Novosibirsk
Russian Federation
Russian Federation
S. P. Petrov
Novosibirsk State Technical University, Novosibirsk
Russian Federation
Russian Federation
A. V. Shmakov
Novosibirsk State University, Novosibirsk
Novosibirsk State Technical University, Novosibirsk
Russian Federation
Russian Federation
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Review
For citations:
Gilmundinov V.M., Melnikov V.V., Petrov S.P., Shmakov A.V. Estimation of influence of non-monetary factors on inflation in the Russian economy in 2003-2013. World of Economics and Management. 2015;15(4):28–40. (In Russ.)
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