Unleashing Ukraine’s Economic Potential: Macroeconomic Multipliers from a Feedback Perspective
Journal: Scientific Papers NaUKMA. Economics (Vol.3, No. 1)Publication Date: 2018-08-23
Authors : Taras Tokarchuk; Henry Bartelet;
Page : 107-114
Keywords : economic policy; macroeconomic stabilisation; macroeconomic indicators; exchange rate regime; system dynamics methods;
Abstract
The purpose of the research is the empirical analysis andelaboration of the system dynamics approach to define and estimate the key drivers of the future macroeconomic stabilization and economic potential of the Ukrainian economy. The study used thegeneralization, systematization and grouping of data, methods of system analysis and synthesis as well as the system dynamics methods and models.
Research results. The analysis of the development of the Ukrainian economy in comparison to the Polish economic situation has been completed. We confirmed the hypothesis that many of the initial economic problems in Ukraine – such as a low aggregate demand and export competitiveness – have been the cause of the exchange rate regime. Elaborated system dynamics models not only allow to analyze the feedback structure of a national economy but can also be used to verify the effectiveness of the different implications for the economic policymaking in Ukraine in the coming years.
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