News and Events

Staff creates laboratory for studying effectiveness of macroeconomic policies impact on economic dynamics

07 august 2015

The researchers of the IEIE SB RAS and the Department of Economics at Novosibirsk State University have created a joint laboratory that will investigate the effectiveness of the impact produced by macroeconomic policies on economic dynamics. The laboratory plans to cooperate with universities from the USA, Spain, Austria, Italy, and China.

The joint laboratory of the IEIE SB RAS and the NSU will study how effective the impact of macroeconomic policies carried out by the fiscal and monetary authorities is in regards to economic growth, with given institutional constraints. The scientists of the laboratory will analyze the activities of the monetary authorities, including some countries’ central banks, in terms of differences in methods of monetary policy, the degree of independence from the other bodies of state power, and their role in unfolding and preventing global and national financial crises.

The researchers will focus on the operation of central banks as specific financial intermediaries, in particular on money, foreign exchange, and gold markets.

The study is expected to result in a theory of macro-finance, an assessment of how macroeconomic policy influences economic dynamics in Russia, and the reasoning behind an inevitable change in the regulations of the world monetary system under the current economic and political situation.

Within the project, it is planned to conduct comparative studies in collaboration with the Higher School of Economics (Moscow), the University of Maryland (USA), the Autonomous University of Madrid, the Complutense University of Madrid, the University of Cádiz (Spain), Vienna University of Economics and Business, the University of Florence, and the University of Heilongjiang. The laboratory will also cooperate in research and practice with the Association of Russian Banks and the Siberian Bank of Sberbank, Russia.

Link: ieie.su