How Large Was the the Output Collapse in Russia? Alternative Estimates and Welfare Implications

December 1, 1994

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Format: Chicago

Evgeny Gavrilenkov, and Vincent Koen. How Large Was the the Output Collapse in Russia? Alternative Estimates and Welfare Implications, (USA: International Monetary Fund, 1994) accessed November 21, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

The divergence between production and consumption indicators in Russia suggests that the magnitude of the output collapse in the course of the transition is overstated by the official statistics. Alternative estimates for real GDP are derived, which reconcile the official production and consumption data. Based on cautious assumptions, real GDP appears to have declined cumulatively by no more than one third rather than by one half. The drop in household welfare is much smaller still, as the output mix shifts and deadweight losses are sharply reduced.

Subject: Consumption, Household consumption, Income, National accounts

Keywords: A number of enterprise, Consumer goods, Consumption, Defense enterprise, Enterprise, Enterprise manager, Goskomstat, Goskomstat official, Household consumption, Income, Output collapse, Output decline, Output mix, Output volume, Series show, U.S.S.R. Goskomstat, WP

Publication Details

Pages:

38
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 1994/154
Stock No:

WPIEA1541994
ISBN:

9781451921847
ISSN:

1018-5941

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