The Model of the Production Side of the Russian Economy: the Updated Version

Authors

  • Stanislav Radionov Financial Research Institute of the Ministry of Finance of the Russian Federation, Moscow, Russia
  • Nikolay Pilnik Financial Research Institute of the Ministry of Finance of the Russian Federation, Moscow, Russia

DOI:

https://doi.org/10.25728/assa.2022.22.3.1271

Keywords:

dynamic optimization, complementary slackness conditions, production of GDP

Abstract

In this paper we propose the new version of the model of the production side of the Russian economy presented in [25]. We add several new features such as more general production function, more tractable human capital variable and the method of COVID-19 pandemic shock description. The new version of the model is capable of reproducing the wide set of main Russian macroeconomic indicators with sufficiently high accuracy even during the COVID-19 pandemic.

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Published

2022-09-30

How to Cite

Radionov, S., & Pilnik, N. (2022). The Model of the Production Side of the Russian Economy: the Updated Version. Advances in Systems Science and Applications, 22(3), 124–134. https://doi.org/10.25728/assa.2022.22.3.1271

Issue

Vol. 22 No. 3 (2022): Advances in Systems Science and Applications

Section

Articles