Nizhny Novgorod: Computable General Equilibrium in One Region with Barter and Arrears

Zemskov Peter and Zemskov Sergey

EERC Working Paper Series from EERC Research Network, Russia and CIS

Abstract: The authors construct a computable general equilibrium (CGE) model of a Nizhny Novgorod regional economy – a typical large industrialised re-gion of the Russian Federation. The model allows to capture some of the key features of the ‘virtual economy’, such as barter transactions and arrears, as well as region-specific market characteristics and pro-vides a dynamic framework for analysing alternative policy measures aimed at cutting short the vicious circle of the virtual economy. Numeri-cal simulations are based on statistical data for the period 1992–1997, which have been obtained from the statistics committee of the Nizhny Novgorod region.

Keywords: Russia; regional economics; transition period; general equilibrium; barter; arrears; public welfare analysis. (search for similar items in EconPapers)
JEL-codes: R13 (search for similar items in EconPapers)
Pages: 47 pages
Date: 2000-11-04
New Economics Papers: this item is included in nep-cmp
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