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A simple macro-econometric simultaneous equation model for the Russian economy

Author

Listed:
  • Polbin Andrei

    (Gaidar Institute for Economic Policy)

  • Sinelnikov-Murylev Sergey

    (VAVT)

Abstract

This paper presents a simple macro-econometric simultaneous equation model for the Russian economy. The model sets the relationship between consumer and investment demand with current income, and income itself is defined as the sum of consumption, investment, government spending and net exports. Despite the extreme simplicity of the model, it shows reasonably good explanatory properties and the parameter estimates are interpretable.

Suggested Citation

  • Polbin Andrei & Sinelnikov-Murylev Sergey, 2020. "A simple macro-econometric simultaneous equation model for the Russian economy," Research Paper Series, Gaidar Institute for Economic Policy, issue 180P, pages 1-51.
    • Handle: RePEc:gai:rpaper:rpaper-2020-180p-1005
    as

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    File URL: https://www.iep.ru/files/RePEc/gai/rpaper/rpaper-2020-180P-1005.pdf
    File Function: Revised Version, 2020
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    Cited by:

    1. Andrey Feliksovich Bedin & Alexander Vladimirovich Kulikov & Andrey Vladimirovich Polbin, 2021. "A Markov Switching VECM Model for Russian Real GDP, Real Exchange Rate and Oil Prices," International Journal of Energy Economics and Policy, Econjournals, vol. 11(2), pages 402-412.
    2. Polbin, Andrey & Sinelnikov-Murylev, Sergey, 2024. "Developing and impulse response matching estimation of the DSGE model for the Russian economy," Applied Econometrics, Russian Presidential Academy of National Economy and Public Administration (RANEPA), vol. 73, pages 5-34.

    More about this item

    Keywords

    Russian economy; modelling; macroeconomic indicators;
    All these keywords.

    JEL classification:

    • C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models
    • E27 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Forecasting and Simulation: Models and Applications
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory

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