Scenarios of socio-economic development of the Republic of Belarus

The development strategy of Belarus is based on such adopted fundamental documents as: the National Strategy for Sustainable Development of the Republic of Belarus (Minsk, 1997); Concept of socio-economic development of the Republic of Belarus until 2015 (Minsk, 1998); The main directions of socio-economic development of the country for the period up to 2010 (Minsk, […]

Firm-line policies and arbitrary macroeconomic policies

The choice between active and passive macroeconomic policy models is not the same as the choice between “firm-course policies” and “freedom of action”. A coherent macroeconomic policy (“firm-course policy” or “playing by the rules”) implies an early choice of measures that can be taken in a particular situation and which predetermine the practical steps of […]

Problems of implementation of stabilization policy: active and passive policy of the state

Economic stabilization is associated with many practical difficulties. These include: a)  time lags of fiscal and monetary policy; b)  imperfection of economic information; c)  volatility of economic expectations; d)  ambiguity of historical analogies. The internal lag is the period of time between the moment of economic shock and the moment of taking economic policy response […]

Fiscal and Monetary Policy in the Classical and Keynesian Models

The classical and Keynesian approaches to macroeconomic policy are different. Disagreements relate to the causes of instability in aggregate demand; factors that determine aggregate supply; the relationship between inflation and unemployment; fiscal and monetary policy instruments. The general methodological approach of Keynesians is the concept of an active macroeconomic policy of the state, which is […]

Social policy in the Republic of Belarus

According to the Programme of Social and Economic Development of the Republic of Belarus for 2001-2005, in the forecast period the main objective of social policy is to ensure a sustainable increase in the standard of living of the population and reduce poverty. To achieve this goal, it is necessary to: to ensure the growth […]