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Inflation Risks Generated by Non-Monetary Factors: Typology, Mechanisms of Occurrence, Estimation

Inflation Risks Generated by Non-Monetary Factors: Typology, Mechanisms of Occurrence, Estimation

Journal of Economic Regulation, , Vol. 9 (no. 3),

The article deals a group of non-monetary inflation factors that generate a wide range of risks of its unpredictable acceleration. To streamline these risks, the authors introduce the typology that takes into account the nature of disturbances in the form of institutional, technological and behavioral (marker) factors, the geography (territory) of their origin in the form of external (outside the country) and internal (within the country) causes and the duration of disturbances, differentiated by short-term (less to six months) and long-term (more than six months) effects. It is shown that in order to understand the process of inflationary shocks, it is advisable to consider two qualitatively different groups of non-monetary factors – operational (short-term) and fundamental (long-term), which are differently integrated into the transmission mechanism of price growth. Is presented the simple analytical model integrating both types of factors and allowing to give new geometric interpretation of the impact of each group on inflation. If the influence of monetary factors and a group of operational non-monetary factors is equivalent to the movement along the inflation curve, then the influence of fundamental non-monetary factors is the transition to another inflation curve of general family of inflation curves. In such scheme, changes in the magnitude of operational factors lead to risks of short-term shifts in the equilibrium level of inflation, while changes in the magnitude of fundamental factors lead to risks of long-term disruption of the inflationary equilibrium.

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Whether the Trust is Sign of Institute?

Whether the Trust is Sign of Institute?

Journal of Economic Regulation, , Vol. 9 (no. 3),

In economy speak about the importance of trust even more often, however the theoretical analysis of this category remains beyond the scope of economic science. Situation is proved in article, from a position of the institutional economic theory, that the trust is the integral sign of social institute, a part of the mechanism putting in action of the rule. That institutes have turned into the real operating social order of simple existence of norms and governed insufficiently. Recognition of this fact allows to form and estimate activity of institutes taking into account a trust factor. In article the trust is investigated in process of expansion of range at various economic schools and concepts. Unlike "the trust radius" of F. Fukuyama which is understood as a circle of people, the confidential relations entering uniform system, in article it is about "the trust range". To his simplest element – to expectations at neoclassics, institutsionalist have added the element resulting from social interaction – compliance to norms, rules and restrictions. However differences in methodology of initial (old) and new institutionalism generate features in establishment of the relations of trust. Commitment to the reproached habits, the general values in theories of old institutionalism or a conscious choice and a collective involvement in formation of rules at neoinstitutsionalist – what provides trust between economic agents? In article it is shown that both elements of the mechanism matter. The range of trust is wide: from simple waiting by isolated individuals of importance for them economic variables, through waiting of the honest behavior deprived of insidiousness and deception it reaches peak of the universal values focused in concepts a faith, hope and love. The mechanism putting in action of the rule in article is understood as the system of interdependent and interdependent forms and methods of maintenance of trust. In addition to sanctions which economists most often specify it includes the written and oral obligations, the constitutional, civil and moral standards which are guided by moral values. Only such mechanism of formation of institutes is capable to bring closer us to the social and economic system having a human appearance. The interdisciplinary researches of a problem of trust which in particular are on a joint of the economic theory and sociology are for this purpose necessary.

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Design of the Innovative and Creative Development Matrix of City on the Basis of Index Method

Design of the Innovative and Creative Development Matrix of City on the Basis of Index Method

Journal of Economic Regulation, , Vol. 9 (no. 3),

The article describes the essence of the creative capital of a city/territory as a part of their intangible assets, formed by taking into account the influence of external and internal factors of the territorial formation development, the value of which is formed by the totality of its social, economic, political and innovative-creative potential. Innovation is an important topic in the study of economics, business, technology, sociology, and engineering. Since innovation is also considered a major driver of the economy, the factors that lead to innovation are also considered to be critical to policy makers in cities. Transitive character of innovations institutionalization in Russia is embodied in national and international law in the sphere of intellectual property rights regulation, in organizational and legal basics of government R&D and innovation policy based on the analysis of existing approaches to the study of the city/territory creative capital index, the matrix of innovative and creative development of the city is proposed, taking into account the environmental conditions and the creative index of the territory, and the stages of evaluation of the creative and innovative capital of the city/territory were developed.

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Innovative Marketing Strategy of the Organization of the Pharmaceutical Market

Innovative Marketing Strategy of the Organization of the Pharmaceutical Market

Journal of Economic Regulation, , Vol. 9 (no. 3),

The work analyzes and evaluates the main marketing tools of the pharmaceutical market research, which testify to their traditional nature and lack of focus on the use of innovative achievements in the marketing research. We mean the achievement in the information economy, the past stage of creation and use of mainframes, personal computers, the Internet, mobile transmitting devices. Their development, based on new paradigms of computation, led to the creation of a new stage - the digital economy, the main tool of which is blocking technology that operates with cryptography. The predominance of "classical" tools in marketing research is partly explained by the fact that the introduction of blocking technology into everyday practice is at the very beginning. This necessitated the formulation of the research task of justifying the possibility and necessity of using a marketing strategy in analyzing and organizing a pharmaceutical market that takes into account the latest achievements in the digital economy in which huge amounts of digital data are processed, analyzed and used at all stages of production, in the broadest sense of the term. These technologies become the main factor of production, able to radically transform all economic ties and interactions, minimizing the participation of people in them. So, the "Internet of things", which is a whole set of physical objects connected by a computer network and equipped with built-in technologies that allow them to interact with themselves and with the outside world, develops at a high rate. It is estimated that by 2020, "Internet of things" will have about 26 billion devices, and the turnover of the Internet economy will reach $ 9 trillion (Gartner, 2013). ransactions between them will require internet money (Omohundzo, 2014). As the money will act as a crypto currency. Micro-payments of crypto-currency between physical objects can create a new level of economy (Dawson, 2014). Its essence lies in the fact that the need to distribute resources through the market will largely disappear. This will be done by "smart machines". In the light of the current changes in social production, approaches to recruitment and traditional content of services, including marketing ones, should change. The marketing strategy in relation to the pharmaceutical market must take into account these changes, especially since blocking technology can also be used in healthcare (Swan, 2014). The research was carried out on the basis of general scientific methods, the prognostic method and the method of comparative analysis. This allowed to solve such problems as defining the essence, place and role of pharmacy in general and the pharmaceutical market, in particular, in the social and economic system of society, to carry out a comparative analysis of the use of "classical" software and blocking technology in pharmaceuticals. This allowed us to identify its uniqueness and allowed us to justify the need to develop a marketing strategy that is adequate to the modern development of the economy, and to determine the practical results of using such a strategy.

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Transactional Costs in Higher Education in the Context of the Organizational and Institutional Changes

Transactional Costs in Higher Education in the Context of the Organizational and Institutional Changes

Journal of Economic Regulation, , Vol. 9 (no. 3),

The problems of qualitative and quantitative measurement of the transaction costs of actors in the educational process are relevant, since their identification makes it possible to judge the effectiveness of organizational and institutional changes in the sphere of higher education, primarily in reorganized universities. In this article, the main approaches to identifying transaction costs in the education sector are disclosed, their classification is considered. Based on the analysis of modern practices of measuring the transaction sector in business, public procurement and public health services, a methodology for its evaluation for the actors of the educational process was proposed. The solution of the indicated general and particular problems will serve as a complement to the methodology for assessing the effectiveness of ongoing reforms in the sphere of Russian higher education by the example of federal and support universities.

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Busines English or English for Economic Purposes: Similarites and Differences in the Foreigh Language Course Design at University

Busines English or English for Economic Purposes: Similarites and Differences in the Foreigh Language Course Design at University

Journal of Economic Regulation, , Vol. 9 (no. 3),

The article considers the problem of content selection for the development of a foreign language course for graduate students of non-linguistic specialties. The author asserts that learning a foreign language should be based on a foreign professional discourse and classifies its types in accordance with a discursive approach. The article presents detailed interpretation of economic discourse as a subtype of institutional one and business discourse, considered as the main content for a foreign language course at university. Both discourse types are closely interrelated but they have a number of fundamental differences. Economic discourse, regarded as an academic code or scientific language, consistently plunges us into the layers of the abstract language used to describe economic models and theories. All cases of using business language are interpreted as a process of business communication development, characterized by genre and contextual diversity within the same goal of doing business. Consequently, business discourse is the practical implementation of economic theoretical issues, which form the basis of economic discourse. In conclusion, the author gives recommendations on content design and materials development for master's degree students and appeals to take into account not only the personal motivational needs of a student, but also the requirements for undergraduate’s professional competence of labor market.

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