Nikolay Pilnik1, Stanislav Radionov2, Ivan Stankevich1
  • 1 National Research University Higher School of Economics, 20 Myasnitskaya Str., Moscow, 101000, Russian Federation
  • 2 Financial Research Institute of the Ministry of Finance of the Russian Federation, 3, b. 2, Nastasyinsky Lane, Moscow, 127006, Russian Federation

Generalized Multi-Product Decomposition of Elements of the Use of Russia's GDP

2018. Vol. 22. No. 2. P. 251–274 [issue contents]

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.
Citation: Pilnik N., Radionov S., Stankevich I. (2018) Obobshchennaya mnogoproduktovaya dekompozitsiya elementov ispol'zovaniya VVP Rossii [Generalized Multi-Product Decomposition of Elements of the Use of Russia's GDP]. HSE Economic Journal , vol. 22, no 2, pp. 251-274 (in Russian)
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