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Inflation expectations and probable trap for macro stabilization

The negative consequences of the deep Belarusian currency crisis of 2011

As of today, a majority of the negative consequences of the deep Belarusian currency crisis of 2011 seem to have been realized. Hence, the Belarusian economy is now ‘purified’ from main macroeconomic distortions and has a chance for sustainable long-term growth. Nevertheless, there are signals that some nominal and real inertia may generate new shocks for the national economy. From this view, the money market is of great concern, while interest rates signal maintained high inflation expectations. High and unstable expectations may entrap monetary policy and generate new shocks for the Belarusian economy. In this policy brief, the author deals with a visualization of inflation expectations and argue for the necessity of a new nominal anchor in order to stabilize expectations for future periods.

 

Last updated Monday, 13 May 2013

Researchers in CIS


Latest Research Papers from CIS

The employment-to-population ratio as an indicator of participation and inclusiveness
Introducing a more comprehensive model to measure the level of participation in economic growth
By Ramos, R. A. and Rühl, D., 2013
Produced by: International Policy Centre for Inclusive Growth (IPC-IG)
Themes: Macroeconomics and Economic Growth, Poverty & Inequality

Implementing a gender audit of an online knowledge service: The experience of GDNet
Sharing GDNet’s learning on gender-based barriers to use of online knowledge services
By Brown, C., 2013
Produced by: Global Development Network (GDN)
Themes: Environment and Climate Change, Gender, Private Sector Development, Urban Development and the Global South


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Rostov State Economics University
Russian Federation
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Ulyanovsk State University
Russian Federation
Higher educational institution in the Volga region


About the CIS window

               


The CIS window is produced in Kyiv by the Economics Education and Research Consortium (EERC) in partnership with GDNet. The window features news and funding opportunities, policy related social science research papers from and about Russia and other CIS countries, profiles of researchers and research centers based in the region.



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