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Decomposition of the Structural Shocks Contribution to the Russian Macroeconomic Indicators Dynamics on the Basis of the DSGE Model

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  • Drobyshevskiy, Sergei

    () (Russian Presidential Academy of National Economy and Public Administration (RANEPA), Gaidar Institute for Economic Policy)

  • Polbin, Andrei

    () (Russian Presidential Academy of National Economy and Public Administration (RANEPA))

Abstract

The paper estimates contribution of domestic and foreign fundamental factors to the dynamics of main macroeconomic indicators of the Russian Federation during the crisis of 2008 and in subsequent years on the basis of the developed dynamic stochastic general equilibrium model for the Russian economy.

Suggested Citation

  • Drobyshevskiy, Sergei & Polbin, Andrei, 2015. "Decomposition of the Structural Shocks Contribution to the Russian Macroeconomic Indicators Dynamics on the Basis of the DSGE Model," Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 2, pages 20-42.
  • Handle: RePEc:rnp:ecopol:ep1523
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    References listed on IDEAS

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    1. A. Kudrin., 2009. "Global Financial Crisis and Its Impact on Russia," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 1.
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    3. Gomes, S. & Jacquinot, P. & Pisani, M., 2012. "The EAGLE. A model for policy analysis of macroeconomic interdependence in the euro area," Economic Modelling, Elsevier, vol. 29(5), pages 1686-1714.
    4. Jordi Galí & J. David López-Salido & Javier Vallés, 2007. "Understanding the Effects of Government Spending on Consumption," Journal of the European Economic Association, MIT Press, vol. 5(1), pages 227-270, March.
    5. I. Pospelov., 2009. "Modeling Russian Economy in the Crisis Period," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 11.
    6. Oxana Malakhovskaya & Alexey Minabutdinov, 2014. "Are commodity price shocks important? A Bayesian estimation of a DSGE model for Russia," International Journal of Computational Economics and Econometrics, Inderscience Enterprises Ltd, vol. 4(1/2), pages 148-180.
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    11. S. Drobyshevsky & S. Sinelnikov-Murylev & I. Sokolov., 2011. "Transformation of Budgetary Policy in Russia during the 2000s: in Quest of National Fiscal Sustainability," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 1.
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    1. repec:nea:journl:y:2017:i:33:p:75-115 is not listed on IDEAS

    More about this item

    Keywords

    DSGE; Russian economy; crisis; oil prices; economic growth slowdown;

    JEL classification:

    • E37 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Forecasting and Simulation: Models and Applications
    • E47 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Forecasting and Simulation: Models and Applications
    • F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics

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