Renat Dashkin
EMCR EMCR
or

Renat Dashkin

Renat
Dashkin
Expert, Sber

Russia (Россия), Moscow

Educational experience

  • Masaryk University

    PhD Research Program, 2022

  • Kazan Federal University

    Candidate of economics sciences (PhD), 2022

Work experience

  • Sber

    Stream Lead — 1 year 1 month

  • Sber

    Chief Economist —  8 months

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    Director —  5 months

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    Senior Relationship Manager — 1 year 9 months

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    Credit Analyst — 1 year 1 month

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Фондирование кредитных сделок, ценообразование банковских продуктов

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Economics
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21 Oct 17:34

Why The U.S. Won’t Pay Down Its Debt

The U.S. national debt is nearly $33 trillion as of early September 2023. Every year since 2001, the U.S. government has spent more money than it takes in, which means it has to borrow money to make up for the difference.

The national debt is frequently discussed as a danger to future generations, but some economists say there’s no reason to get the national debt down to zero. One reason for that is without the debt, there would be no federal government securities, such as Treasury bonds, which provide investors a safe place to park their money while accruing interest.

Most economist warn, however, that there’s a balancing act when it comes to the national debt.

Why The U.S. Won’t Pay Down Its Debt

The U.S. national debt is nearly $33 trillion as of early September 2023. Every year since 2001, the U.S. government has spent more money than it takes in, which means it has to borrow money to make up for the difference. The national debt is frequently discussed as a danger to future generations, but some economists say there’s no reason to get the national debt down to zero. One reason for that is without the debt, there would be no federal government securities, such as Treasury bonds, which provide investors a safe place to park their money while accruing interest. Most economist warn, however, that there’s a balancing act when it comes to the national debt. Watch the video above to learn more about why the U.S. can’t get a handle on the national debt and whether it even has to.

Correction on Sept. 12, 2023 at timecode 0:11: The voice over has been updated to reflect the national debt grew $300 billion between July and September 2023.

Chapters:
00:00 — Introduction
01:39 — The role of debt in the economy
03:28 — How debt can harm the economy
06:17 — The global economy

Produced by: Charlotte Morabito
Edited by: Amy Marino
Animation: Jason Reginato
Supervising Producer: Lindsey Jacobson

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Why The U.S. Won’t Pay Down Its Debt

26 Sep 13:30

J.Powell and C.Lagarde speeches made at the annual Economic Policy Symposium "Structural Shifts in the Global Economy"

The difficulty lies, not in the new ideas, but in escaping from the old ones

Inflation: Progress and the Path Ahead

“Restoring price stability is essential to achieving both sides of our dual mandate. We will need price stability to achieve a sustained period of strong labor market conditions that benefit all.”

Policymaking in an age of shifts and breaks

“Policymaking in an age of shifts and breaks requires an open mind and a willingness to adjust our analytical frameworks in real-time to new developments. At the same time, in this era of uncertainty, it is even more important that central banks provide a nominal anchor for the economy and ensure price stability in line with their respective mandates. In the current environment, this means – for the ECB – setting interest rates at sufficiently restrictive levels for as long as necessary to achieve a timely return of inflation to our 2% medium-term target.”

Speech by Chair Powell on the economic outlook

Good morning. At last year's Jackson Hole symposium, I delivered a brief, direct message. My remarks this year will be a bit longer, but the message is the sam

22 Sep 15:20

A to Z economics set #2

Adverse selection

A risk associated with insurance, and linked to asymmetric information. People who are worried about their health will be more inclined to pay for health insurance than those who are fighting fit. One way to avoid the problem is to make insurance compulsory for all, as happens with car ownership.

Bank run

In a crisis, bank depositors may start to doubt they will get their money back. So they may demand to withdraw it. Since banks have lent out this money, it is impossible for them to repay all depositors instantly. The bank may fail. To avoid this, most countries have schemes of deposit insurance.

Capital controls

Regulations designed to prevent money from moving across borders. They are often used in regimes with a fixed exchange rate; by preventing money from flowing abroad, they protect the domestic currency from depreciation. Capital controls were a key component of the Bretton Woods system.

Pareto distribution

Vilfredo Pareto, an Italian economist, noticed that 80% of Italian land was owned by 20% of the population. This distribution, also known as a power law, crops up in a wide variety of circumstances; one study found that 80% of health-care expenses were linked to just 20% of patients.

Veblen goods

Luxury goods for which demand increases in line with their price. They are named after Thorstein Veblen, who described the phenomenon of “conspicuous consumption” in the late 19th century. Ownership of these goods confers social status, so their high price makes them more desirable by indicating that the buyer is part of the elite. As the saying goes: “If you have to ask the price, you can’t afford it.”

21 Sep 15:48

THE CLIMATE CHANGE AND THE ECONOMY

Implications for growth, innovation, inflation, financial markets, fiscal policy, and several socio-economic outcomes.

Short summary:
* Climate change and the public policies to arrest it are and will continue reshaping the global economy

* In the near future, climate change will cause income divergence across individuals, sectors, and regions, adjustment in energy markets, increased inflation variability, financial markets stress, intensified innovation, increased migration, and rising public debt

* An effective and smooth transition towards a net-zero economy requires a large-scale, coordinated response between fiscal authorities, central banks, regulators, and supervisors

___

Implications for monetary policy:

Climate change and carbon policy shocks may increase medium-to-long-term inflation expectations and may create a risk of very persistent inflation.

Monetary policy affects inflation with a delay, and therefore the optimal response of a central bank to shocks involves inflation-forecast targeting rather than current-inflation targeting.

Choosing monetary policy in the aftermath of an adverse “supply shock”, whether climate-related or not, involves trading-off the risk of more inflation for longer against greater short-to-mediumterm damage to real activity.

20 Sep 13:46

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