Inter-Country Econometric Model of the Economies of Belarus, Russia and Ukraine

Abstract

The paper describes the results of joint econometric modelling of the Belarusian, Russian and Ukrainian economies with the use of the ICM LAM model (Inter-Country Model based on the Long-run Adjustment Modelling approach). The foundations of organization and construction of the inter-country model by means of the GIRAF ICM (Guesstimation, Impulse Response Analysis and Forecasting for ICM LAM) software are described. Further on, simulation experiments of possible globalisation shocks on the economies of Belarus, Russia and Ukraine are analysed.