Estimation of Fiscal Stimulus Efficiency in Russian Economy: Simple DSGE Model With Government Sector
Anton Votinov () and
Mariia Elkina ()
Finansovyj žhurnal — Financial Journal, 2018, issue 5, 83-96
Dynamic stochastic general equilibrium (DSGE) models are known as a flexible tool for monetary policy analysis. Nowadays this approach is becoming more popular for the analysis of fiscal policy impact on economic development. There are few DSGE models of Russian economy with detailed fiscal sector. In this study a simple DSGE model is developed and calibrated to evaluate the efficiency of fiscal stimulus. In addition, the authors consider the impact of budget consolidation and public-private consumption relationship on fiscal multipliers. The results demonstrate the sensitivity of multipliers to certain parameters. The developed model will form the basis of further research within suggested framework.
Keywords: fiscal policy; DSGE model; government sector; fiscal multiplier; budget consolidation (search for similar items in EconPapers)
JEL-codes: E62 E63 H50 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:fru:finjrn:180507:p:83-96
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