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Matematicheskoe modelirovanie, 2019, Volume 31, Number 11, Pages 117–131
DOI: https://doi.org/10.1134/S0234087919110091 (Mi mm4133) 		 
This article is cited in 4 scientific papers (total in 4 papers)

A version of dynamic stochastic general equilibrium model for open economy

V. I. Balutaab, D. N. Shultsbac

a Keldysh Institute of Applied Mathematics of Russian Academy of Sciences
b Plekhanov Russian University of Economics
c Infrastructure economics center
Full-text PDF (445 kB) Citations (4)
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DOI: https://doi.org/10.1134/S0234087919110091
Abstract: The paper presents a dynamical stochastic model of general equilibrium for key indicators of Russian economy. A special feature of the approach is the Keynesian microeconomic foundation, which takes into account market failures such as imperfect competition, inflexible prices and wages. The second specific feature is the hypothesis of rational expectations.
The model is a system of 17 equations describing the dynamics of key macroeconomic indicators such as GDP, inflation and interest rates, exchange rate, export, import, consumption relative to its equilibrium trajectories.
The model is intended to assess the nature of the reaction of key economic indicators to fluctuations in exogenous factors. Using the constructed model, the effects on key macroeconomic indicators from demand shocks, total factor productivity, and changes in the world interest rate are estimated. The results of modeling and calculations can be used by monetary authorities in the development of monetary policy.
Keywords: macroeconomic modeling, dynamic stochastic General equilibrium models, DSGE-models.
Received: 16.05.2019
Revised: 16.05.2019
Accepted: 01.07.2019
English version:
Mathematical Models and Computer Simulations, 2020, Volume 12, Issue 4, Pages 519–527
DOI: https://doi.org/10.1134/S207004822004002X
Bibliographic databases:
Document Type: Article
Language: Russian
Citation: V. I. Baluta, D. N. Shults, “A version of dynamic stochastic general equilibrium model for open economy”, Matem. Mod., 31:11 (2019), 117–131; Math. Models Comput. Simul., 12:4 (2020), 519–527
Citation in format AMSBIB
\Bibitem{BalShu19}
\by V.~I.~Baluta, D.~N.~Shults
\paper A version of dynamic stochastic general equilibrium model for open economy
\jour Matem. Mod.
\yr 2019
\vol 31
\issue 11
\pages 117--131
\mathnet{http://mi.mathnet.ru/mm4133}
\crossref{https://doi.org/10.1134/S0234087919110091}
\elib{https://elibrary.ru/item.asp?id=41137496}
\transl
\jour Math. Models Comput. Simul.
\yr 2020
\vol 12
\issue 4
\pages 519--527
\crossref{https://doi.org/10.1134/S207004822004002X}
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    • This publication is cited in the following 4 articles:
    Citing articles in Google Scholar: Russian citations, English citations
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