Modelling of the Ukrainian monetary sector using dynamic system of simultaneous equations
Journal Title: Наукові записки НаУКМА. Економічні науки - Year 2016, Vol 1, Issue 1
Abstract
The paper presents a concept of the Ukrainian monetary sector modeling with the use of a dynamic system of simultaneous equations that differs from existing models by the inclusion of the deviations from a long term balance correction mechanism. Therefore, it includes a Ukrainian monetary sector model developed basing on this approach. For the representation of the interest rate channel of the transmission mechanism in the model the main regulatory instruments of the National bank of Ukraine were defined and the combined index of the interest rates on them was calculated with the use of vector autoregressional models. The evaluation of the model allowed for the both representations of the long term interrelations between variables and detection of the potential ability of the indicators to restore balance or to destabilize macroeconomic environment. The most sensitive to the changes in the monetary sector are proved to be the interest rates on short-term deposits and exchange rate. In general, developed model has high explanatory capacity and forecasting precision. Made scenario analysis demonstrates the advantages of the complex economic interrelations representation and the usage of proposed methodology for macroeconomic modelling.
Authors and Affiliations
Pervin Dadashova
Keywords
Related Articles
- EP ID EP177653
- DOI -
- Views 139
- Downloads 0
Organizational and Economic Fundamentals of Coverage of Railway
During the reformation of the railway and creation of its economic security, it is critical to study the organizational and economic fundamentals of the coverage of railway enterprises and define characteristic of format...
Modern instruments of digital marketing in the system of integrated marketing communications
The article presents research on Internet marketing and digital marketing by describing their role in the system of integrated marketing communications. The study shows analysis of modern theoretical research and practic...
Promising lines of financial mechamisms to achieving the sustainable development goals by 2030
The article analyzes the tasks envisaged for the implementation of the Millennium Development Goals and Sustainable Development Goals by 2030, and the role of financial mechanisms to achieve them. The results of the anal...
Socially Responsible Investing as a Promising Direction of the Investment Activity: the Nature and Trends
The article analyses the essence of socially responsible investing, the key milestones of its development, foreign experience, and current trends. Also we analyzed the factors of appearance and spread of the discussed ph...
Ev ent marketing as a innovative tool of influence on consumers
The article discusses the character and classification of event-marketing as a modern innovative tool for the success of a competitive enterprise and presents the algorithm for event-making and defining performance crite...