COMPUTABLE SIMULATION MODEL FOR MONEY CIRCULATION IN THE RUSSIAN ECONOMY
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COMPUTABLE SIMULATION MODEL FOR MONEY CIRCULATION IN THE RUSSIAN ECONOMY
Annotation
PII
S042473880000616-6-1
Publication type
Article
Status
Published
Authors
Valery Makarov 
Anton Afanasyev Anton Losev
Pages
3-27
Abstract

The authors developed a computable general equilibrium model which describes the channels for money circulation in the Russian economy. Authors conducted scenario computations, in particular, dealing with the impact of monetary, credit and currency policy of the Central Bank on the major macroeconomic indicators of the national economy, and on the real and financial sector. The main instruments for monetary, credit and currency policy were refinancing rate and rouble interventions of the Bank of Russia at internal currency market. The model was used by industrial departments of the Bank of Russia, of the Ministry of Finance and the Ministry of Economic Development. It was applied for the analysis and forecast of dynamics of economic development of the Russian Federation, as well as for determination of the optimal credit, monetary, tariff and budget policy of the Russian government.

Keywords
computable (simulation) general equilibrium model, money circulation, Russian economy, monetary, credit and currency policy, scenario computations, forecasts
Date of publication
01.01.2011
Number of purchasers
0
Views
103
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