On the Need to Achieve a Compromise between Economic Policy Goals in the Light of Overcoming Stagnation in Russia

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Abstract

We discuss the problem of coordinating the various goals of economic policy and achieving a compromise between them in two aspects. The first one is the coordination of the various goals of economic policy in the short term. The second aspect is the achievement of a compromise between the short-term and long-term goals of socioeconomic development. The problem of finding a compromise is examined in the context of discussing the goals and results of economic policy in Russia in the period after 2010 and with the view of adjusting the economic policy in the future.

Original languageEnglish
Pages (from-to)475-484
Number of pages10
JournalStudies on Russian Economic Development
Volume31
Issue number5
DOIs
Publication statusPublished - 1 Sep 2020

Keywords

  • economic policy goals and instruments
  • inflation targeting
  • social loss function
  • stagnation in the Russian economy

OECD FOS+WOS

  • 5.02 ECONOMICS AND BUSINESS

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