Financial Block in an Agent-Based Model of the Russian Economy

The article discusses development of the financial block in an agent-based multiregional inter-sectoral input-output model of the Russian economy. The model now includes a unified commercial bank and the Central Bank as agents. Behavioral algorithms were created for non-bank agents to govern fund flows, fund management, and other financial activities. The experiments confirmed that the model expanded in this way accurately enough reflects the behavior of economic agents in the financial sphere. The additions to the model will make it possible to study the dynamic processes associated with lending to the economy and to evaluate the consequences of certain monetary policy measures. An open issue remains on how to introduce into the model elements that would enable representing cost-push inflation.