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Estimated Small Multiple Regions Dynamic Stochastic General Equilibrium Model

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  • Bulat Mukhamediyev
  • Mukhamediyev Bulat

Abstract

Small open economy is vulnerable to various macroeconomic shocks arising in large economies. It must take into account their possible consequences in own economic policy. In paper a small dynamic stochastic general equilibrium model for several counties/regions is presented. It develops an Obstfeld & Rogoff (2001) approach and its subsequent variants for model of the two countries, taking into account the nominal price rigidity. In each country domestic and foreign goods are consumed.The model is estimated on the data of Kazakhstan, Russia, China and the European Union. The results of the model simulation are discussed from the viewpoint of the influence of external and internal shocks to the small open economy of Kazakhstan.

Suggested Citation

  • Bulat Mukhamediyev & Mukhamediyev Bulat, 2015. "Estimated Small Multiple Regions Dynamic Stochastic General Equilibrium Model," EcoMod2015 8374, EcoMod.
    • Handle: RePEc:ekd:008007:8374
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    Keywords

    Kazakhstan; Russia; China and the European Union; Impact and scenario analysis; General equilibrium modeling (CGE);
    All these keywords.

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