The paper sets out a simple monetary model anduses it to compare alternative monetary systems. Money may be either fiat or gold. Both gold supply and velocity are uncertain. Asset demands are derived from expected utility maximization. I demonstrate the basic argument against a commodity money -- that it wastes resources, show why the optimal growth rate of money may be zero, and compare the behavior of the economy under constant money stock, constant price level, and constant gold price rules. Expected utilityis typically highest under the constant price level rule.

Monetary Rules and Commodity Schemes Under Uncertainty

At present, waste reduction or elimination has become a serious environmental concern for most countries and a priority for companies. Waste is not only an environmental problem but also an economic loss. A prerequisite for flourishing economic activity is the efficient management of waste and other resources. The recovery of waste resources has become an industrial reality due to technological innovations in the era of raw materials shortage. Sustainable materials management goes further than ecological waste management and focuses on the efficient use of available materials. The article aims to research the waste management process, shed light on the place of waste management in promoting the circular economy, and outline positive experiences in this area by highlighting the potential benefits and economic costs of applying these practices. That could serve as an incentive to accelerate efficient waste management processes in the Republic of Moldova. Waste management benefits the environment but also increases the number of companies and jobs. The presented article discusses waste management issues and shows some current issues related to them. The paper the authors wrote within the frame of the state project 20.80009.0807.22. - Developing a mechanism for the circular economy creation in the Republic of Moldova.

/pdf/efficient-waste-management-economic-aspects-11zade73.pdf

Efficient waste management: economic aspects

Introduction. At present, the tasks of forming civic identity actualize the issues of digital civic participation and understanding the specifics of online activism as a factor and indicator of youth civic identity. The purpose of the article is to build a typology of models of digital civic activism and analyze observational models as a mechanism for the manifestation of civic identity. Materials and Methods. The study is based on the results of a survey of residents of the Sverdlovsk region aged 14–25 years (n = 1 150). The object includes students (schoolchildren, secondary vocational schools and higher educational institutions) and working youth. The use of correlation analysis and the calculation of power-law averages made it possible to determine the relationship between digital participation models and the manifestation of civic identity. Results. A typology has been made based on the status of involvement, three categories have been constructed: observers, doers, digital passivists. Young people include an observer position in the forms of manifestation of civic digital activism. The group of “observers” inside is heterogeneous and can be differentiated by the intensity of the use of digital practices. It is determined that the discrepancy between self-identification as an observer and real practices of digital civic participation create internal contradictions in the formation of civic identity. Discussion and Conclusion. The study made it possible to determine that young people’s identification of themselves as “citizen observer” is a convenient model for them, which allows them to overcome the contradictions of identity and performs a number of functions. The transformation of the position of an “observer” into an interested one and easily switching from an outside observer to an active participant and vice versa was recorded. The results can be used in the development of regional youth pro 

Regional Youth in Search of Civic Identity: Digital Participation and the Observer Model

Introduction. The relevance of this considered scientific problem is due to the need to assess the recreational preferences of potential consumers of yachting services as a factor of tourist attractiveness and active promotion of the region. The purpose of the article is to determine the prospects for the development of yacht tourism on the Azov-Black Sea coast of Russia on the basis of the conducted analysis, which reflects the tourist attractiveness of the region in modern conditions.

Materials and Methods. The authors analyzed panel statistics of the charter website 2Yachts, the informational and analytical agency SeaNews, the international broker of motor yachts Worldmarine, PKF International. To study the trends in the development of yacht tourism on the Azov-Black Sea coast of Russia, a number of indicators of the state of the yacht tourism industry of individual European countries have been studied, an investment project to create a network of marinas in the Republic of Crimea and the Krasnodar Territory has been considered.

Results. The consumption preferences of clients in yacht tourism services on the Azov-Black Sea coast are revealed, the state of the yachting infrastructure of the region is assessed, the prospects for the development of yachting in the sea area of the Krasnodar Territory as a factor of tourist attractiveness of the region are outlined. The Azov-Black Sea coast of Russia has a significant potential for the development of yacht tourism (natural, socio-economic, cultural and historical resources). The development of yacht tourism should be carried out taking into account consumption preferences according to three basic criteria when choosing a yacht tour in the waters of the Azov and Black Seas – price, excursion program and tourist service.

Discussion and Conclusion. The modernization of the yacht infrastructure and the popularization of yachting will contribute to the additional development of the tourism industry and the tourist attractiveness of the region, and will also raise yacht tourism to a new international level. The results of the study can become the basis for the development of a strategy for the creation and promotion of a tourist product for potential yachting customers at the regional level, and are also taken into account in the development of programs of integrated tourist services.

Yacht Tourism on the Azov-Black Sea Coast of Russia as a Factor of Tourist Attractiveness of the Region

Introduction. The involvement in the economic circulation of production waste is one of the priority objects within which sustainable development is implemented. The purpose of the article is to explore the issues of waste generation and directions for their use in statistical, legal, strategic and economic contexts, to compare approaches to the involvement of waste in economic circulation in Russia and the European Union countries. Materials and Methods. The study used data from the Federal State Statistics Service of the Russian Federation and the Statistical Service of the European Union. Using the methods of descriptive statistics, the indicators of the generation and usage of waste in Russia and the European Union countries have been studied; the methods of comparative analysis made it possible to consider the directions of involving production waste in economic circulation by sectors of the economy and approaches to involving waste in economic circulation in Russia and the European Union countries. Using the method of generalization and synthesis of profits in transactions, the authors made the main conclusions. Results. It is concluded that, despite the discovery of unresolved problems with production waste, the European approach to identify waste achieves the certain results, in particular, sustainable waste management systems have been established and instruments aimed at preventing and reducing waste, increasing the content of recycling are being applied. In Russia, for the most part, this refers to promising areas, based on international best practices, in the specific experience of the European Union countries, it is assumed that the industry processing, utilizing and neutralizing waste will be observed and prescribed. Discussion and Conclusion. It has been revealed that the problem of waste exists both in Russia and in the European Union countries, but each time it is approached differently. In general, the countries have created a system for dealing with regulation of waste production, have designed targeted strategies aimed at creating a circular economy. The results of the analysis carried out are of practical importance, they can be taken into account by other countries in the process of developing and making a decision on the problem of production waste. 

pdf/involvement-in-the-economic-circulation-of-production-waste-39hnousoyv.pdf

Involvement in the Economic Circulation of Production Waste: Russian and European Experience

In the context of modern economy, banks play an essential role for sustainable growth, by ensuring economy with financial resources and driving impulses of monetary policy to economy. Monetary authorities influence significantly the bank's ability to fulfill this role. Thus, to achieve macroeconomic objectives, there is promoted particular monetary policy and are implemented various practical regulations for banks. In this article, we want to identify the existing relationship between monetary policy followed by the authorities and the ability of banks to create money with its impact on various practical regulations.

/pdf/monetary-policy-force-effect-by-means-of-banks-money-91irhzrmod.pdf

Monetary Policy Force Effect By Means Of Banks Money Creation

Publicația este elaborată cu suportul financiar al proiectelor de cercetare din cadrul Programului de Stat (2020-2023): 1. Proiectul 20.80009.0807.16 Elaborarea instrumentelor economice noi de evaluare şi stimulare a competitivităţii agriculturii Republicii Moldova pentru anii 2020-2023. 2. Proiectul 20.80009.0807.21 Migrația, schimbări demografice și politici de stabilizare a situației. 3. Proiectul 20.80009.0807.22 Dezvoltarea mecanismului de formare a economiei circulare în Republica Moldova. 4. Proiectul 20.80009.0807.29 Perfecționarea mecanismelor de aplicare a instrumentelor inovaționale orientate spre creșterea durabilă a bunăstării populației Republicii Moldova. 5. Proiectul 20.80009.1606.38 Evaluarea multidimensională și dezvoltarea ecosistemului antreprenorial la nivel național și regional în vederea impulsionării sectorului IMM în Republica Moldova.

http://dspace.ince.md/jspui/bitstream/123456789/1622/1/2022_nr_46Tendinte_in_Economia_Moldovei.pdf

Tendinţe în Economia Moldovei, nr. 46 (trim. II, 2022)

Economic development and globalization have brought our planet into a dramatic situation both from the perspective of the impact on the environment and from the perspective of the rapid depletion of limited natural resources. The excessive private consumption of the population of most countries in the world, who live in an abundance of material things, is far from sustainable and calls into question the existence of future generations. Population behavior and consumption and production choices have a negative impact on the environment and other people, for this reason the global challenges we face require the development of new lifestyles and business models that would be more sustainable and responsible towards the environment. The need to move in a prompt manner from a linear economy to circular economy practices is rapidly intensifying every year, and this is currently seen as the only solution to slow down the negative developments. The circular economy means extracting value throughout the product life cycle by repairing, reusing, upgrading and recycling products in a profitable and sustainable way, with the aim of reducing the amount of exhaustible resources consumed, the volume of waste generated and the harmful impact on climate. The transition to a circular economy requires a fundamental change in the way we think and use goods. A real change refers to the adoption of business models and behaviors that would also aim to optimize and increase the rate of use of products. In this work, we aimed to describe the main circular business models that can be implemented, highlighting among them those that directly aim to increase the rate of use of products, this being one of the essential ways of transitioning to a circular economy. This paper is written within the state project 20.80009.0807.22. Developing the mechanism for the circular economy creation in the RM.

/pdf/circular-business-models-for-increasing-product-usage-7ppvwbkg.pdf

Circular business models for increasing product usage

The present study aims to analyze the insurance market situation globally and in the Republic of Moldova, with a focus on the trends in the country's insurance sector. The methodology employed involves a detailed investigation of national legislation and the application of international regulatory practices in the insurance field, accompanied by an analysis of the effects reflected in the core indicators of the sector. The empirical analysis is based on data derived from reports and statistics pertaining to the domestic insurance market. The obtained results reveal that the lack of appropriate culture and behavior among customers in the insurance domain represents a major hindrance for the population of the Republic of Moldova in accessing insurance services. This situation is primarily due to the inadequate promotion of insurance products, limited awareness regarding their utility and importance, and a low financial literacy. Additionally, constraints in the domestic insurance market encompass several aspects, such as the absence of efficient financial instruments for placing insurance reserves, underdeveloped market and the lack of a developed capital market, frequent changes in the legal and regulatory framework, low capitalization levels of insurance companies, restrictions on competition in certain sectors, and imperfect legal and organizational support for state insurance upervision. Based on these findings, it is recommended to implement a set of measures to stimulate the development of the insurance sector in the Republic of Moldova. These measures include the implementation of an incentives system that would encourage voluntary and life insurance uptake, promoting life insurance packages that offer savings options as an alternative to pension funds, revising the current model of medical insurance to strengthen the function of healthcare services quality control, developing online sales services as the primary means of marketing, ensuring the reliability and sustainability of the insurance system, improving the corporate governance of insurance companies through increased transparency, and enhancing the regulatory framework to enable the digital development of the insurance sector. The stability and resilience of the insurance sector are essential for the economy, and the implementation of the mentioned measures will contribute to the sustainability of businesses and the well-being of the population, as well as the overall development of the insurance sector.

Direcții de dezvoltare a sectorului de asigurări din Republica Moldova

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