Russian Federation: Selected Issues

July 1, 2014

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Format: Chicago

Russian Federation: Selected Issues, (USA: International Monetary Fund, 2014) accessed December 25, 2024

Summary

This Selected Issues paper estimates potential output and the output gap in Russia. Estimating potential output in Russia is difficult because its economy is large and complex, in transition, and dependent on oil. First, Russia presents large territorial and sectoral heterogeneity. Second, structural issues are difficult to estimate in transition economies. Third, the energy sector dominates exports and GDP, making Russia vulnerable to large terms of trade shocks. This paper estimates potential output taking into account these challenges and using a variety of methodologies. The results obtained show that the output gap in Russia exhibits high uncertainty.

Subject: Capacity utilization, Labor, Output gap, Potential output, Production, Structural reforms, Total factor productivity

Keywords: Capacity utilization, CR, Economy, Estimate, HP filter, ISCR, Output gap, Output gap estimate, Output gap in Russia, Output gaps' estimate, Potential output, Production function, Production function approach, Revisions to output gap estimation, Total factor productivity, Trend growth

Publication Details

Pages:

19
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2014/176
Stock No:

1RUSEA2014003
ISBN:

9781498336765
ISSN:

1934-7685

Notes

Full text also available in Russian

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