Cargando…
The utilization-adjusted output gap : is the Russian economy overheating? /
This paper estimates the output gap in Russia using a utilization-adjusted production function approach, which we argue is preferable to traditional output gap methods. The approach amounts to (1) using available surveys to estimate the "natural rates" of capacity and labor utilization abo...
| Clasificación: | Libro Electrónico |
|---|---|
| Autores principales: | , |
| Autores Corporativos: | , |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
[Washington, D.C.] :
International Monetary Fund, European Dept. and Policy Development and Review Dept.,
©2006.
|
| Colección: | IMF working paper ;
WP/06/68. |
| Temas: | |
| Acceso en línea: | Texto completo |
| Sumario: | This paper estimates the output gap in Russia using a utilization-adjusted production function approach, which we argue is preferable to traditional output gap methods. The approach amounts to (1) using available surveys to estimate the "natural rates" of capacity and labor utilization above which inflation begins to accelerate; (2) estimating a production function with utilization-adjusted capital and labor inputs; and (3) defining potential output as the level of output obtained when both capital and labor are at their estimated natural rates. The results suggest that the output gap in Russia was negative between 1999 and 2003, but may have recently become positive, thus contributing to inflationary pressures |
|---|---|
| Descripción Física: | 1 online resource (44 pages) : illustrations |
| Bibliografía: | Includes bibliographical references. |
| ISBN: | 1282474227 9781282474222 1451908644 9781451908640 1462325599 9781462325597 1452751161 9781452751160 9786613821751 6613821756 |
| ISSN: | 2227-8885 ; |