| Abstract: | This paper formulates and implements a refined direct cost matrix adjustment algorithm in the Institute of Economic Forecasting RIM model. Several development scenarios featuring different rates of application of resource-saving measures are considered. For each scenario, the problem of minimizing extra investment to ensure the requisite rate of growth of GDP taking account of optimum utilization of the existing resource-saving potential is posed and solved. Outputs of an upgraded RIM are compared with indicators of economic development scenario forecasts for the period to 2020 developed at IEF. |
