Foreign experts discuss modeling of economic processes at RANEPA
On October 24, RANEPA hosted a seminar, “Using modern computational methods for modeling economic processes,” attended by foreign experts Lawrence Kotlikoff, Felix Kübler and Simon Scheidegger as invited speakers.
Head of the International Laboratory for Fiscal Sustainability Studies at the Gaidar Institute for Economic Policy, Boston University professor Laurence Kotlikoff delivered a report, “Using the Global Gaidar Model to Simulate the World's Dynamic Demographic, Fiscal, Technological and Economic Transition.”
Professor Kotlikoff is one of the world’s leading experts in macroeconomics, author of more than 100 articles in leading peer-reviewed journals, including The American Economic Review, The Journal of Public Economics, The Journal of Monetary Economics, The Journal of Political Economy, and others. Kotlikoff spoke about the computable general equilibrium multi-regional overlapping-generations model, which is currently being developed by the international laboratory for studying sustainability of fiscal policy that he leads. This model helps analyze the main demographic, technological and fiscal changes typical of each of the regions included in the model. These changes include the growth rate of the world economy and individual regions, the convergence trend, as well as the consequences entailed by the emergence of labor-saving technologies and robotization for countries’ long-term economic development (up to 2100).
Felix Kübler, a professor of financial economics at the University of Zurich and a Swiss Finance Institute Senior Chair, presented a report, “Self-Justified Equilibria: Existence and Computation.” Simon Scheidegger, Associate Professor of Finance at the Faculty of Business and Economics (HEC) at the University of Lausanne, gave a presentation on “Banishing the Curriculum of Dimensionality in Solving Economic Models.” Both professors are leading European experts in advanced technology and computational economics, and are among global leaders in this area. Felix Kübler and Simon Scheidegger shared their experiences using the latest computing techniques in modeling economic processes.
Researchers from the International Laboratory for Fiscal Sustainability Studies at the Gaidar Institute and RANEPA Andrei Polbin, Maria Kazakova, Kristina Nesterova, Andrei Zubarev and Svyatoslav Borisov took part in the seminar, as well as students of the Presidential Academy, representatives of the Higher School of Economics National Research University and other institutions.
The seminar was organized by the Laboratory for Economic Growth at RANEPA Institute for Applied Economic Research (IAER), the IAER Laboratory for Mathematical Modeling of Economic Processes, the IAER Center for Economic Modeling of Energy and Ecology, and the International Laboratory for Fiscal Sustainability Studies at the Gaidar Institute and RANEPA.