IMF Working Papers

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

By Evgeny Gavrilenkov, Vincent Koen

December 1, 1994

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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 October 5, 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:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Working Paper No. 1994/154

  • Stock No:

    WPIEA1541994

  • ISBN:

    9781451921847

  • ISSN:

    1018-5941