+7 925 966 4690, 9am6pm (GMT+3), Monday – Friday
ИД «Финансы и кредит»

JOURNALS

  

FOR AUTHORS

  

SUBSCRIBE

    
Economic Analysis: Theory and Practice
 

Integration of information and analytical opportunities of equilibrium and dynamic input-output models

Vol. 17, Iss. 4, APRIL 2018

PDF  Article PDF Version

Received: 20 February 2018

Received in revised form: 28 February 2018

Accepted: 6 March 2018

Available online: 27 April 2018

Subject Heading: MATHEMATICAL METHODS AND MODELS

JEL Classification: B41, C02, C61, C68

Pages: 736–753

https://doi.org/10.24891/ea.17.4.736

Duszynski R.R. National Louis University, College of Arts and Sciences, Chicago, Illinois, USA
ramzia@aol.com

ORCID id: not available

Toroptsev E.L. North-Caucasus Federal University, Stavropol, Russian Federation
eltoroptsev@yandex.ru

https://orcid.org/0000-0002-4036-6002

Marakhovskii A.S. Individual Entrepreneur, Stavropol, Russian Federation
marahov@yandex.ru

https://orcid.org/0000-0003-2248-8425

Importance The article considers the prospect of creating model complexes based on computable models of economic equilibrium and dynamic models of the input-output balance.
Objectives The aim is to increase the validity and adequacy of economic dynamics modeling and model-based presentation of results of a specific economic policy; analyze main opportunities, advantages and disadvantages of computable general equilibrium models and dynamic input-output balances to develop a new class of hybrid models combining the advantages of the said two models when solving problems of sustainability, quality of transitional processes and economic growth.
Methods We analyze two methodologies of mathematical modeling of macroeconomics from the perspective of their further integration. The first methodology rests on solutions provided by computational models of general economic equilibrium, the second – on the input-output balance when it is presented as a system of algebraic and differential equations.
Results We reveal the boundaries of applicability of computable general equilibrium models and define necessary and sufficient conditions for adequate use of such modeling in the real economy. The paper shows the need for integration of equilibrium and input-output methodologies for modeling, analysis and management of structural transformations of the economy.
Conclusions The problem of mutual integration of information-analytical capabilities of equilibrium modeling and dynamic input-output balance is formulated for the first time ever. Such a hybridization will enable to develop and implement economic policy and improve the structure of the economy based on the analysis of the influence of investment projects on specific dynamic behavior of economic systems.

Keywords: CGE-models, dynamic input-output balance, economic dynamics

References:

  1. Glaz'ev S.Yu. [The modern theory of long waves in economic development]. Ekonomicheskaya nauka sovremennoi Rossii = Economics of Contemporary Russia, 2012, no. 2, pp. 8–27. (In Russ.)
  2. Chereshnev V.A., Chistova E.V. [Determination of regional aspects of population aging in Russia]. Ekonomicheskii analiz: teoriya i praktika = Economic Analysis: Theory and Practice, 2017, vol. 16, iss. 12, pp. 2206–2223. URL: Link (In Russ.)
  3. Glaz'ev S.Yu. [What kind of modernization does Russia need?]. Ekonomist = Economist, 2010, no. 8, pp. 3–9. (In Russ.)
  4. Baranova N.M., Sorokin L.V. [An impact of human capital on the sustainable economic development]. Ekonomicheskii analiz: teoriya i praktika = Economic Analysis: Theory and Practice, 2017, vol. 16, iss. 12, pp. 2224–2237. URL: Link (In Russ.)
  5. Sharaev Yu.S. Teoriya ekonomicheskogo rosta [The theory of economic growth]. Moscow, SU HSE Publ., 2006, 250 p.
  6. Medvedev D.A. [Social and economic development of Russia: Finding new dynamics]. Voprosy Ekonomiki, 2016, no. 10, pp. 5–30. (In Russ.)
  7. Johansen L. A Multisectoral Study of Economic Growth. Contributions to Economic Analysis 21. Amsterdam, North-Holland Publishing Company, 1960.
  8. Shoven J.B., Whalley J. Applied General-Equilibrium Models of Taxation and International Trade: An Introduction and Survey. Journal of Economic Literature, 1984, vol. 22, iss. 3, pp. 1007–1051.
  9. Shoven J.B., Whalley J. Applying General Equilibrium. Cambridge, UK, Cambridge University Press, 1992, 299 p.
  10. Makarov V.L., Bakhtizin A.R., Sulakshin S.S. Primenenie vychislimykh modelei v gosudarstvennom upravlenii [Application of computable models in public administration]. Moscow, Nauchnyi ekspert Publ., 2007, 304 p.
  11. Dixon P.B., Parmenter B.R. Computable General Equilibrium Modelling for Policy Analysis and Forecasting. In: Handbook of Computational Economics. H.M. Amman, D.A. Kendrick, J. Rust (eds), Elsevier Science B.V., 1996. URL: Link01003-9
  12. El'shin L.A. [Methodological approaches to forecasting the industrial development based on the simulation of economic agents' expectations]. Ekonomicheskii analiz: teoriya i praktika = Economic Analysis: Theory and Practice, 2017, vol. 16, iss. 11, pp. 2028–2042. (In Russ.) URL: Link
  13. Armington P.A. A Theory of Demand for Products Distinguished by Place of Production. IMF Staff Papers, 1969, vol. 16, iss. 1, pp. 159–178.
  14. Leontief W. Studies in the Structure of the American Economy: Theoretical and Empirical Explorations in Input-Output Analysis. New York, Oxford University Press, 1953, 561 p.
  15. Leontief W. Ekonomicheskoe esse. Teorii, issledovaniya, fakty i politika [Essays in Economics: Theories, Theorizing, Facts, and Policies]. Moscow, Politicheskaya literatura Publ., 1990, 416 p.
  16. Suvorov N.V., Treshchina S.V., Balashova E.V. et al. Rol' tekhnologicheskogo faktora v razvitii rossiiskoi ekonomiki: rezul'taty prognozno-analiticheskikh issledovanii. V kn.: Nauchnye trudy: Institut narodnokhozyaistvennogo prognozirovaniya RAN [The role of technological factor in the Russian economy development: Results of forecasting and analytical studies. In: Proceedings of Institute of Economic Forecasting of the Russian Academy of Sciences]. Moscow, MAKS Press Publ., 2015, pp. 8–76.
  17. Lyubushin N.P., Babicheva N.E., Usachev D.G., Shustova M.N. [Genesis of the concept of sustainable development of economic systems of various hierarchical levels]. Regional'naya ekonomika: teoriya i praktika = Regional Economics: Theory and Practice, 2015, no. 48, pp. 2–14. URL: Link (In Russ.)
  18. Lyubushin N.P., Babicheva N.E., Konyshkov A.S. [Sustainable development: Evaluation, analysis, forecasting]. Ekonomicheskii analiz: teoriya i praktika = Economic Analysis: Theory and Practice, 2017, vol. 16, iss. 12, pp. 2392–2406. URL: Link (In Russ.)
  19. Stern R.M., Deardorff A.V. The Michigan Model of World Production and Trade: Theory and Applications. London, MIT Press, 1985, 296 p.
  20. Deardorff A.V., Stern R.M. Computational Analysis of Global Trading Arrangements. Ann Arbor, The University of Michigan Press, 1990, 399 p.
  21. Brown D.K., Deardorff A.V., Stern R.M. CGE Modeling and Analysis of Multilateral and Regional Negotiating Options. Research Seminar in International Economic, School of Public Policy, University of Michigan, Working Papers, 2001, no. 468.
  22. Nikaido H. Vypuklye struktury i matematicheskaya ekonomika [Convex Structures and Mathematical Economics]. Moscow, Mir Publ., 1972, 519 p.
  23. Wilkinson J.H. Algebraicheskaya problema sobstvennykh znachenii [The Algebraic Eigenvalue Problem]. Moscow, Nauka Publ., 1970, 565 p.
  24. Toroptsev E.L., Tatochenko T.V. [Theoretical framework for management of modernization and economic growth]. Regional'naya ekonomika: teoriya i praktika = Regional Economics: Theory and Practice, 2011, no. 2, pp. 2–11. URL: Link (In Russ.)
  25. Petrov V.K., Selivanov S.G. Ustoichivost' gosudarstva [Stability of the State]. Moscow, Ekonomika Publ., 2005, 496 p.

View all articles of issue

 

ISSN 2311-8725 (Online)
ISSN 2073-039X (Print)

Journal current issue

Vol. 23, Iss. 3
March 2024

Archive