Financial Block in an Agent-Based Model of the Russian Economy
https://doi.org/10.25205/2542-0429-2024-24-4-46-76
Abstract
The article discusses development of the financial block in an agent-based multiregional inter-sectoral input-output model of the Russian economy. The model now includes a unified commercial bank and the Central Bank as agents. Behavioral algorithms were created for non-bank agents to govern fund flows, fund management, and other financial activities. The experiments confirmed that the model expanded in this way accurately enough reflects the behavior of economic agents in the financial sphere. The additions to the model will make it possible to study the dynamic processes associated with lending to the economy and to evaluate the consequences of certain monetary policy measures. An open issue remains on how to introduce into the model elements that would enable representing cost-push inflation.
Keywords
agent-based modeling,
financial system,
banking sector,
savings,
loans,
deposits,
liquid assets,
inflation targeting
Supporting agencies: The research was supported by RSF (project No. 23-28-01499).
About the Authors
A. V. Ivershin
PJSC Sberbank
Russian Federation
Russian Federation
Student of the Faculty of Economics
WOS Research ID: AAZ-5261-2021
Novosibirsk
A. A. Tsyplakov
Institute of Economics and Industrial Engineering SB RAS ; Novosibirsk State University
Russian Federation
Russian Federation
Alexander A. Tsyplakov, Candidate of Sciences (Economics), Associate Professor
Scopus AuthorlD: 57192156252
Novosibirsk
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Review
For citations:
Ivershin A.V., Tsyplakov A.A. Financial Block in an Agent-Based Model of the Russian Economy. World of Economics and Management. 2024;24(4):46-76. (In Russ.) https://doi.org/10.25205/2542-0429-2024-24-4-46-76
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