@ARTICLE{26543120_220708570_2018, 
	author = {Nikolay Pilnik and Stanislav Radionov and Ivan Stankevich}, 
	keywords = {, Russian economy, GDP components by expenditure, decomposition, hierarchical utility, consumptioninvestment},
	title = {Generalized Multi-Product Decomposition of Elements of the Use of Russia's GDP},
	journal = {HSE Economic Journal },
	year = {2018},
	volume = {22},
	number = {2},
	pages = {251-274},
	url = {https://ej.hse.ru/en/2018-22-2/220708570.html},
	publisher = {},
	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.},
	annote = {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.}
}