04649oam 22010814 450 991078852560332120230829002129.01-4623-2559-91-4527-5116-11-282-47422-71-4519-0864-49786613821751(CKB)3360000000443213(EBL)3014462(SSID)ssj0000939943(PQKBManifestationID)11570203(PQKBTitleCode)TC0000939943(PQKBWorkID)10946338(PQKB)10610763(OCoLC)694141130(MiAaPQ)EBC3014462(IMF)WPIEE2006068(EXLCZ)99336000000044321320020129d2006 uf 0engur|n|---|||||txtccrThe Utilization-Adjusted Output Gap : Is the Russian Economy Overheating? /Nienke Oomes, Oksana DynnikovaWashington, D.C. :International Monetary Fund,2006.1 online resource (46 p.)IMF Working Papers"March 2006."1-4518-6328-4 Includes bibliographical references.""Contents""; ""I. INTRODUCTION""; ""II. THE NONACCELERATING INFLATION RATE OF FACTOR UTILIZATION""; ""III. FACTOR UTILIZATION IN RUSSIA""; ""A. Capacity Utilization""; ""B. Labor Utilization""; ""C. Estimating the Natural Rate""; ""IV. OUTPUT GAP ESTIMATES""; ""A. Trend Fitting and Statistical Filtering""; ""B. Production Function Approach""; ""V. CONCLUSIONS""; ""I. Characteristics and Methodology of Capacity Utilization Surveys""; ""II. Econometric NAICU Estimates""; ""III. Statistical Methods for Estimating the Output Gap""; ""References""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.IMF Working Papers; Working Paper ;No. 2006/068Inflation (Finance)RussiaEconometric modelsInput-output analysisRussiaEconometric modelsPhillips curveEconometric modelsInflationimfLaborimfMacroeconomicsimfProduction and Operations ManagementimfMacroeconomics: ProductionimfLabor Economics PoliciesimfPrice LevelimfDeflationimfLabor Economics: GeneralimfLabourimfincome economicsimfCapacity utilizationimfOutput gapimfLabor policyimfIndustrial capacityimfProductionimfEconomic theoryimfPricesimfLabor economicsimfRussian FederationimfInflation (Finance)Econometric models.Input-output analysisEconometric models.Phillips curveEconometric models.InflationLaborMacroeconomicsProduction and Operations ManagementMacroeconomics: ProductionLabor Economics PoliciesPrice LevelDeflationLabor Economics: GeneralLabourincome economicsCapacity utilizationOutput gapLabor policyIndustrial capacityProductionEconomic theoryPricesLabor economicsOomes Nienke1462134Dynnikova Oksana1462135International Monetary Fund.European Dept.International Monetary Fund.Policy Development and Review Dept.DcWaIMFBOOK9910788525603321The Utilization-Adjusted Output Gap3670976UNINA