- PII
- S042473880000616-6-1
- DOI
- 10.31857/S0000616-6-1
- Publication type
- Article
- Status
- Published
- Authors
- Volume/ Edition
- Volume 52 / Issue 3
- Pages
- 92-113
- Abstract
- The macroeconomic model of Russian economy is constructed. The model takes into account the key features of behavioral mechanism, economic policy mechanism, and key structural features of the economy. We model the budget rule mechanism, consider interaction of the Central Bank and budget in a context of monetary and budget reserves accumulation. We include two different monetary policy rules in the model: domestic credit rule and exchange rate rule. The exchange rate submodel describes a Balassa-Samuelson effect and terms of trade effect.The model has high forecast power: model forecast quality is higher than Ministry of Economy Development of Russian Federation forecast quality for majority of macroeconomic indicators.
- Keywords
- macroeconomic modeling, error correction model, budget rule, transmission mechanism of monetary policy
- Date of publication
- 01.07.2016
- Number of purchasers
- 1
- Views
- 941
RAS Social ScienceEconomics and the Mathematical Methods
- ISSN (Print) 0424-7388
- ISSN (Online)3034-6177
A MACROECONOMIC MODEL OF THE RUSSIAN ECONOMY
Индексирование
Scopus
Crossref
Higher Attestation Commission
At the Ministry of Education and Science of the Russian Federation
Scientific Electronic Library