Multiproduct Model Decomposition of Components of Russian GDP
38 Pages Posted: 22 Nov 2015
Date Written: November 20, 2015
This paper proposes a method for a multiproduct model decomposition of GDP components by expenditure which allows the use of several different price indices in the same model. The decomposition does not link the products to imports or exports, therefore, it imposes no restrictions on the behaviour of these series and their deflators. The theoretical reasoning, the estimation methodology and the estimation results for Russian GDP data are presented. A method of the decomposition of changes in inventories is also presented.
Keywords: GDP components by expenditure, decomposition, utility tree
JEL Classification: C65, C68
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