Oomes, Nienke; Dynnikova, Oksana - International Monetary Fund (IMF) - 2006
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 … when both capital and labor are at their estimated natural rates. The results suggest that the output gap in Russia was …