Author : Mr.Vincent Koen
Publisher : International Monetary Fund
ISBN 13 : 1451921845
Total Pages : 38 pages
Book Rating : 4.4/5 (519 download)
Book Synopsis How Large Was the the Output Collapse in Russia? Alternative Estimates and Welfare Implications by : Mr.Vincent Koen
Download or read book How Large Was the the Output Collapse in Russia? Alternative Estimates and Welfare Implications written by Mr.Vincent Koen and published by International Monetary Fund. This book was released on 1994-12-01 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.