4,266 research outputs found
Russian fiscal policy during the financial crisis
This study examines the expanding role of fiscal policy at a time of financial crisis. It analyses the stimulative fiscal measures of the Russian government in 2008-2010 and compares these with simi-lar actions taken in other countries. The risks and limitations associated with the development and implementation of the measures are analyzed. The macroeconomic effects of the fiscal policy measures are estimated using a structural vector autoregressive (SVAR) model, the fiscal multip-liers are calculated, and factors influencing multiplier size are examined.fiscal stimulus; fiscal sustainability; SVAR; fiscal multiplier; financial crisis; Russia
Compton effect on relativistic electrons in the atmosphere of the sun
Compton effect on relativistic electrons in solar atmospher
Wealth effects and Russian money demand
We examine wealth effects for Russian money demand in a cointegrated vector autoregressive framework. We find that an aggregate wealth variable, as well as the components housing and equity prices included separately, significantly enter the long-run money demand relationship. There are feedback effects from money to wealth. However, the remonetization process lead to high income elasticities even when wealth is included in the model. System instability coincides with the arrival of the global financial crisis in late 2008.money demand; wealth effects; financial crisis; Russia
Identifying structural shocks behind loan supply fluctuations in Russia
We examine the drivers behind loan supply fluctuations in Russia using Bayesian vector autoregressive model with sign restrictions on impulse response functions. We identify two types of structural innovations: loan supply shock and monetary stance shock. We find that contractionary shocks of both types contributed significantly and in the roughly equal measure to the decrease of bank lending after the Lehman Brothers collapse.loan supply; Bayesian VAR; sign restrictions; financial crisis; Russia
Coulomb drag between one-dimensional conductors
We have analyzed Coulomb drag between currents of interacting electrons in
two parallel one-dimensional conductors of finite length attached to
external reservoirs. For strong coupling, the relative fluctuations of electron
density in the conductors acquire energy gap . At energies larger than
, where
is the impurity scattering rate, and for , where is the
fluctuation velocity, the gap leads to an ``ideal'' drag with almost equal
currents in the conductors. At low energies the drag is suppressed by coherent
instanton tunneling, and the zero-temperature transconductance vanishes,
indicating the Fermi liquid behavior.Comment: 5 twocolumn pages in RevTex, added 1 eps-Figure and calculation of
trans-resistanc
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