Nonconventional Economic Policy as Theoretical Basis of Transformation of Public Administration of Economy

Abstract

In the article, conceptual bases and a configuration of modern economic policy are characterized. At the same time, the prevailing (normal) conditions and a case of depressive economy are divided. To the first, there correspond the defining role of the monetary policy that is conducted in a format of flexible targeting of inflation and asupporting role of the state budget subordinated to achievement of fiscal stability. A recurrence of depressive economy is followed by return of traditional Keynesianism and non-standard in comparison with the prevailing approaches of policy. The conclusion about essential dependence of processes of public administration on a condition of national economy is drawn.

Keywords

• new synthesis
• inflation targeting
• taylor’s rule
• features and paradoxes of depressive economy
• keynesian ideology and practice of policy
• recession in japan
• a global economic crisis