MACROECONOMIC ANALYSIS: METHODS AND RESULTS
Development of an innovative economy is impossible without the implementation of rapid economic maneuver for the renewal and modernization of production facilities in all activities. But in reality, the creation of preconditions for innovative development is slow and requires large-scale government intervention.
The paper considers two approaches to price equilibrium for one version of optimization interregional input-output model (model with conditional centers). The first approach represents the universal framework of equivalent exchange that is used in applied studies while the second one is a Walrasian equilibrium framework that was introduced exactly for this version of the model in theoretical works of V. Suslov and V. Vasilyev. The review of these two approaches is given, as well as the proof of Walrasian equilibrium for the state of equivalent exchange is presented. The series of computations is performed that approves the equivalence of two equilibrium frameworks for the version of the model with conditional centers.
Modern problems of Russian economic development are considered, one of which is the low level of investment and innovative activity of industrial enterprises. Analysis of relevant factors allowed to identify ways of improving the state industrial policy, which is providing stimulation of investment activity. Mechanism of tax regulation is regarded as one of the priorities in the paper and allows to generate a steady cash flow of investments into the real economy, and allows to diversify and modernize production.
MICROECONOMIC ANALYSIS: METHODS AND RESULTS
This paper is the first to present mathematical models of tax regimes with regard to a company's organizational form and compatibility conditions of business characteristics with the tax regime. It explains the weak points of the tax burden indicator based on the sales proceeds and proposes more relevant indicators. The models can be used in research and practical business operations. At the macroeconomic level, the models can serve as a government policy tool of institutional and taxation design, development of alternative tax regime, and their comparative analysis.
In this paper we test the hypothesis that adding heterogeneity of production and bounded rationality in a form of adaptive learning into a general equilibrium framework may help us explain the asset pricing «stylized facts». We test this hypothesis by developing an asset pricing general equilibrium model of a three-sector production economy for the Russian stock market. The adaptive learning version of the model (compared to the rational expectations one) has appeared to be better in explaining the Russian stock market «stylized facts».
The paper discusses an application of real options theory to the optimal control problem for projects with an R&D stage and an opportunity to patent. An optimal control (management) is defined as a sequence of decisions that leads to profit maximization at every stage of the project. The theoretical framework of the optimal control problem is the Bellman’s principle and the real options’ theory. To illustrate the theoretical framework a biotechnology project on Hepatitis C quality standards development has been chosen. The methodology can be used for a wide array of an R&D projects that result in product’s prototype.
Dental materials and equipment market in Russia are analyzed in the paper. Entrepreneurship development in the dentistry logistics in Russia after 1992 briefly analyzed in the article too.
The article suggested method of estimating the probability of default for borrowers in accordance with the standards of Basel II, based on the union credit scoring, rating models and a decision tree. Consider new factors affecting the insolvency of a natural person, describes a method for their inclusion in the valuation model of credit risk.
The article reviews recent scientific lines of development of social technologies of sociotechnical systems management. Special attention is paid to viewing prevalent ideas in social technologies of investment projects corporate management area, in the basis of which a definition of investment projects management is given.
The largest in Novosibirsk region's infrastructural investment project of industrial logistic park is analyzed from the viewpoint of regional economic policy modernization. Social effects are measured on the financial-economic models basis determing the development of the park’s managing company which constructs engineer park objects on one side and projects of park’s investors and residents on the other side.
ISSN 2658-5375 (Online)