Template-Type: ReDIF-Article 1.0
Author-Name: Anton I. Votinov
Author-Email: avotinov@nifi.ru
Author-Workplace-Name: Financial Research Institute, Moscow 127006, Russia; National Research University Higher School of Economics, Moscow 101000, Russia
Author-Name: Maria A. Elkina 
Author-Email: elkina@nifi.ru
Author-Workplace-Name: Financial Research Institute, Moscow 127006, Russia; National Research University Higher School of Economics, Moscow 101000, Russia
Title: Estimation of Fiscal Stimulus Efficiency in Russian Economy: Simple DSGE Model With Government Sector
Abstract: 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.
Classification-JEL: E62, E63, H50
Keywords: fiscal policy, DSGE model, government sector, fiscal multiplier, budget consolidation
Journal: Finansovyj žhurnal — Financial Journal
Pages: 83-96
Issue: 5
Year: 2018
Month: October
DOI: 10.31107/2075-1990-2018-5-83-96
File-URL: http://www.nifi.ru/images/FILES/Journal/Archive/2018/5/statii/fm_2018_5_07.pdf
File-Format: Application/pdf 
Handle: RePEc:fru:finjrn:180507:p:83-96