Record Details

Modelling the impact of external shocks on economy of Ukraine: DSGE approach

Ekonomika

View Archive Info
 
 
Field Value
 
Title Modelling the impact of external shocks on economy of Ukraine: DSGE approach
 
Creator Bazhenova, Olena
Bazhenova, Yuliya
 
Subject —
DSGE model, small open economy, nominal rigidities, external sustainability, external economic shocks
—
 
Description The paper explores the dynamic stochastic general equilibrium model to study the impact of external shocks on the economy of Ukraine. The dynamic stochastic general equilibrium model is constructed for a small open economy that includes households, firms (domestic manufacturers and importers), government, the National Bank and external sector. The model assumes the new-Keynesian approach that includes the so-called “rigidities” of prices and wages, the existence of the households’ consumption habits and investments with adjustment costs. Also, it takes into account the country’s significant dependence on mineral products imports. All goods in the economy are divided into the domestic ones (that are exported and consumed in the country), imports and mineral products. So the purpose of the model is to study the impact of external shocks on the economy of Ukraine, such as a positive shock in world output, a positive shock in the world aggregate demand, a positive shock in the world interest rate, and a positive shock in world prices.
 
Publisher Vilniaus universiteto Ekonomikos fakultetas / Vilnius University Faculty of Economics
 
Contributor —
 
Date 2016-04-12
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
 
Format application/pdf
 
Identifier http://www.zurnalai.vu.lt/ekonomika/article/view/9907
10.15388/Ekon.2016.1.9907
 
Source Ekonomika; Ekonomika 2016 95(1); 64-83
1392-1258
1392-1258
 
Language lit
 
Relation http://www.zurnalai.vu.lt/ekonomika/article/view/9907/7747
 
Rights Autorinės teisės (c) 2016 Ekonomika