worldneweconomyМир новой экономикиThe world of new economy2220-64692220-7872Financial University under The Governtment оf The Russian Federation10.26794/2220-6469-2023-17-1-56-67worldneweconomy-385Research ArticleЭКОНОМИЧЕСКАЯ ТЕОРИЯECONOMIC THEORYТеория и практика борьбы с экономическим кризисом (о Нобелевской премии по экономике в 2022 году)Theory and practice of overcoming an economic crisis (on the Nobel Prize in economics in 2022)https://orcid.org/0000-0002-7835-5827ВороновЮ. П.VoronovY. P.

Юрий Петрович Воронов — кандидат экономических наук, ведущий научный сотрудник

Новосибирск

Yuri P. Voronov — Cand. Sci. (Econ.), Leading Researcher

Novosibirsk

corpus-cons@ngs.ruИнститут экономики и организации промышленного производства Сибирского отделения РАНРоссияInstitute of Economics and Industrial Engineering, Siberian Branch of Russian Academy of SciencesRussian Federation2023180520231715667Copyright © Воронов Ю.П., 20232023Воронов Ю.П.Voronov Y.P.This work is licensed under a Creative Commons Attribution 4.0 License.https://wne.fa.ru/jour/article/view/385

В статье анализируются результаты исследований лауреатов Нобелевской премии по экономике 2022 г. Автор разъясняет значение необходимых терминов: «денежно-кредитный мультипликатор», «ликвидность», «закладная», «ипотечные облигации». Кроме того, рассмотрен психологический фактор формирования критических ситуаций в банковской сфере так, как его трактовали лауреаты. Обсуждается вопрос о причинах традиционного низкого значения денежно-кредитного мультипликатора в СССР и постсоветской России по сравнению с США и другими странами с развитой рыночной экономикой. Проанализирована роль «доктрины реальных векселей» в деятельности Федеральной резервной системы США и лично Бена Бернанке. Описана «осторожная» линия поведения этого лауреата в ходе борьбы с кризисом 2008 г. Подробно рассмотрена принадлежащая лауреатам модель динамики ликвидности, которая широко обсуждается в научной среде.

The article analyzes the Nobel Prize winners in economics of the 2022’s research results. The author explains the meaning of the terms which are necessary for the analysis: money multiplier, liquidity, mortgage, mortgage bonds. In addition, the psychological factor in the formation of critical situations in the banking sector is considered the way it was interpreted by the winners. The article analyzes the reasons which led to the lower position of the USSR’s and modern Russia’s money multiplier compared to the position of the multiplier of the countries with developed market economies including, first of all, the USA. The paper also discusses the role which the “real bills doctrine” played in the activity of the US Federal Reserve System and Ben Bernank personally. Ben Bernank’s cautious line of behavior during the overcoming the 2008 crisis is described. The model of liquidity dynamics which belongs to the laureates and that is vividly discussed in the scientific community is considered in detail.

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The authors declare that there are no conflicts of interest present.