Abstract
The paper considers the model that estimates the potential GDP and output gap in the economy of Russia in the light of specific features. The model allows us not only to build forecasts of these indicators, but also to obtain the breakdown of unobservable variables to show the contribution of observed factors. Thus, potential GDP is decomposed into the contribution of labor, funds and total factor productivity. The output gap indicator distinguishes foreign trade, conjunctural components and the element explained by monetary policy.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have