A workshop on construction of general equilibrium models

On March 23–30 researches of Gaidar Institute's Joint International Center for Budget Studies and the Russian Presidential Academy of National Economy and Public Administration (RANEPA) held in Boston University a scientific workshop on the construction of general equilibrium models.

Such models work for a set of regions/states, namely the United States, Japan, Europe, China, and Asia. The workshop's immediate goal was to construct and calibrate a general equilibrium model factoring in Russia and, subsequently, the rest of the world (Africa, Latin America, Australia etc.).

The constructed model will help understand the effect of demographic changes and global fiscal policy on growth in real wages, interest rates, and economic growth (both global and regional/domestic) in time.

Additionally, researches of the Center held a meeting with environmental experts of The Earth Institute, Columbia University to discuss the matter of introducing an environmental component into the model in question.

The workshop was attended by researches of the Center, namely Boston University Economics Professor Laurence Kotlikoff (Director), Maria Kazakova, Evgeny Goryunov, Christina Nesterova, Andrei Zubarev.