 Generalized Multi-Product Decomposition of Elements of the Use of Russia's GDPNikolay Pilnik, Stanislav Radionov and Ivan Stankevich HSE Economic Journal, 2018, vol. 22, issue 2, 251-274 Abstract: The paper offers a new method of decomposition of GDP and its elements. It is based on the idea that every component can be represented as a combination of a smaller number of aggregates. The proposed method has a range of important theoretical properties that insure its correctness and reproduces the statistics with very high quality. The theoretical reasoning of the procedure is presented, 3-product decomposition is analysed. Decomposition of indicators in both current and fixed prices is presented. The proposed decomposition has a range of advantages compared to earlier procedures. First, it does not link any model products to aggregates, observed in statistics. Second, it decomposes the statistics into a higher number of unobserved products, and these products and their prices can be reasonably interpreted. Finally, the important distinction from earlier procedures in non-linearity in real prices. Apart from that, the paper proposes a method of harmonization of GDP and its elements statistics that is needed to work with these indicators after two recent methodology changes. Keywords: Russian economy; GDP components by expenditure; decomposition; hierarchical utility; consumption; investment (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:hig:ecohse:2018:2:4 Access Statistics for this article More articles in HSE Economic Journal from National Research University Higher School of Economics |
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