Macroeconomic model of transition economy : A stochastic calculus approach

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dc.contributor Bank of Finland
dc.contributor.author Sarajevs, Vadims
dc.date.accessioned 2014-09-22T08:00:12Z
dc.date.available 2014-09-22T08:00:12Z
dc.date.issued 1999
dc.identifier.isbn 951-686-912-2
dc.identifier.issn 1456-4564
dc.identifier.uri https://helda.helsinki.fi/bof/handle/123456789/8114
dc.description Ilmestynyt myös: Ekonomia 4 ; 2 (2000).
dc.description.abstract An integrated stochastic macroeconomic model of transition economy at the early stage of reforms with optimising representative risk averse agents is constructed.The equilibrium growth rate of the economy, real asset returns, domestic money demand, and expected inflation rate are determined as functions of the exogenous risks in the economy.The main issue addressed are: domestic money demand, currency substitution ratio, expected rate of inflation, real asset returns, the equilibrium growth rate of the economy as well as government ability to control these variables.Analysis of the model finds that the equilibrium growth rate of the economy is not independent on the monetary and fiscal policies but can be affected by the government through its ability to fix the real cost of capital for the firm, expenditure and monetary policy parameters. JEL Classification Numbers: D80, D90, E41, E44, E52, F41, O11, O23
dc.format.extent 45 s.
dc.language.iso eng
dc.relation.ispartofseries BOFIT Discussion Papers
dc.rights https://helda.helsinki.fi/bof/copyright
dc.subject makrotaloustiede
dc.subject mallit
dc.subject talousuudistus
dc.subject riskit
dc.subject Itä-Eurooppa
dc.subject talouskasvu
dc.subject SP
dc.subject Bofit-kokoelma
dc.title Macroeconomic model of transition economy : A stochastic calculus approach
dc.type Sarjajulkaisu
dc.identifier.urn URN:NBN:fi:bof-201408072103
dc.subject.jel D80
dc.subject.jel D90
dc.subject.jel E41
dc.subject.jel E44
dc.subject.jel E52
dc.subject.jel F41
dc.subject.jel O11
dc.subject.jel O23
dc.series.name BOFIT Discussion Papers
dc.series.year 1999
dc.series.number 7/1999
dc.series.sortingnumber 7
dc.date.publication 19.10.1999
dc.contributor.orgunit Institute for Economies in Transition (BOFIT)
dc.description.publication Published in Ekonomia vol 4, no 2 (2000), pp. 192-219

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