Central Economics and Mathematics Institute

About: Central Economics and Mathematics Institute is a facility organization based out in Moscow, Russia. It is known for research contribution in the topics: Population & Foreign-exchange reserves. The organization has 297 authors who have published 580 publications receiving 6449 citations. The organization is also known as: Federal State Institution of Science Central Economics and Mathematics Institute of the Russian Academy of Sciences.

Study of a One-Dimensional Optimal Control Problem with a Purely State-Dependent Cost

Abstract: A one-dimensional optimal control problem with a state-dependent cost and a unimodular integrand is considered. It is shown that, under some standard assumptions, this problem can be solved without using the Pontryagin maximum principle, by simple methods of the classical analysis, basing on the Tchyaplygin comparison theorem. However, in some modifications of the problem, the usage of Pontryagin’s maximum principle is preferable. The optimal synthesis for the problem and for its modifications is obtained.

Conceptual fundamentals of the long wave theory and the innovative potential of the Russian economy

Abstract: Some aspects of innovative development in terms of the long wave concept are studied in this paper. The stage of the sixth long wave, which is reached by the USA as the leader of the nanotechnological development, is specified. The innovative potential of Russia in the area of nanotechnologies is estimated.

Analytic-Numerical Investigations of Singular Problems for Survival Probability in the Dual Risk Model with Simple Investment Strategies

Abstract: We study the life annuity insurance model when simple investment strategies (SISs) of the two types are used: risky investments and risk-free ones. According to a SIS of the first type, the insurance company invests a constant positive part of its surplus into a risky asset while the remaining part is invested in a risk-free asset. A risk-free SIS means that the whole surplus is invested in a risk-free asset. We formulate and study some associated singular problems for linear integro-differential equations (IDEs). For the case of exponential distribution of revenue sizes, we state that survival probabilities as the functions of the initial surplus (IS) are unique solutions of the corresponding problems. Using the results of computational experiments, we conclude that in the region of small sizes of IS the risky SIS may be more effective tool for increasing of the survival probability than risk-free one.

Fiscal Policy and Economic Growth

Abstract: The article reports the results of testing of Wagner's law for four countries: the United States, Great Britain, Sweden, and Russia. Econometric relationships are constructed that can be used to study properties of the Armey-Rahn curve and the Laffer curve. A new algorithm is suggested for finding the Laffer points and Scully points. The evolution of budget policy and the connection of budget parameters with the economic growth rate are examined.