Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/192599 
Year of Publication: 
2010
Series/Report no.: 
Discussion Papers No. 617
Publisher: 
Statistics Norway, Research Department, Oslo
Abstract: 
A macro econometric model of the Russian economy is developed, containing 13 estimated equations - covering major national account variables, government expenditures and revenues, interest rates, prices and the labour market. The model is tailored to analyze effects of changes in the oil price and economic policy variables. The model has good statistical properties and tracks history well over the estimation period, which runs from 1995Q1 to 2008Q1. Model simulations indicate that the Russian economy is vulnerable to large fluctuations in the oil price, but we also find evidence of significant economic growth capabilities in the absence of oil price growth.
Subjects: 
Russia
macro econometric model
oil price dependency
fiscal and monetary policy
JEL: 
C51
E17
E52
E63
Q43
Document Type: 
Working Paper

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