Inflation Targeting under Global Trends Exposure

Olga Arkadeva, Natalia Berezina, Mikhail Arkadev

2021

Abstract

The purpose of the study was to update the understanding of inflation targeting tools, that can help to develop inflation targeting policy under global trends exposure. The growth of financial, economical, social problems and climate change make mainstream paradigm of sustainable economic development precarious. The contradiction between unconstrained elasticity of capital supply and negative consequences of current approach to natural resources exploration and demographic headwind amplifying political decisions make find new trade-offs between price stability and output volatility. The study aims at the identification of a range of monetary policy tools: traditional and unconventional tools and their influence on output and inflation. The study provided research of international monetary policies across inflation targeting, full employment, and financial stability. We specified global trends exposure on sovereign monetary policy and its adoption to changing environment. The theoretical results of the study are expressed in streamlining international experience of inflation targeting and knowledge systematization about central banks approach to achieve their domestic mandates to stabilise inflation and maintain output at potential under global trends. The practical significance of the research refers to reveal imbalances of Russian inflation targeting tools compared to international practice and to provide specific recommendations to achieve well-balanced policy for state social and economic development.

Paper Citation

in Harvard Style

Arkadeva O., Berezina N. and Arkadev M. (2021). Inflation Targeting under Global Trends Exposure. In Proceedings of the International Scientific-Practical Conference "Ensuring the Stability and Security of Socio-Economic Systems: Overcoming the Threats of the Crisis Space" - Volume 1: SES, ISBN 978-989-758-546-3, pages 33-37. DOI: 10.5220/0010682000003169

in Bibtex Style

@conference{ses21,
author={Olga Arkadeva and Natalia Berezina and Mikhail Arkadev},
title={Inflation Targeting under Global Trends Exposure},
booktitle={Proceedings of the International Scientific-Practical Conference "Ensuring the Stability and Security of Socio-Economic Systems: Overcoming the Threats of the Crisis Space" - Volume 1: SES,},
year={2021},
pages={33-37},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0010682000003169},
isbn={978-989-758-546-3},
}

in EndNote Style

TY - CONF

JO - Proceedings of the International Scientific-Practical Conference "Ensuring the Stability and Security of Socio-Economic Systems: Overcoming the Threats of the Crisis Space" - Volume 1: SES,
TI - Inflation Targeting under Global Trends Exposure
SN - 978-989-758-546-3
AU - Arkadeva O.
AU - Berezina N.
AU - Arkadev M.
PY - 2021
SP - 33
EP - 37
DO - 10.5220/0010682000003169