TY - BOOK ID - 11259756 TI - The utilization-adjusted output gap : is the Russian economy overheating? AU - Oomes, Nienke. AU - Dynnikova, Oksana. AU - International Monetary Fund. PY - 2006 SN - 1451863284 1462325599 1451908644 9786613821751 1452751161 1282474227 PB - [Washington, D.C.] : International Monetary Fund, European Dept. and Policy Development and Review Dept., DB - UniCat KW - Electronic books. -- local. KW - Inflation (Finance) -- Russia -- Econometric models. KW - Input-output analysis -- Russia -- Econometric models. KW - Phillips curve -- Econometric models. KW - Finance KW - Business & Economics KW - Money KW - Inflation (Finance) KW - Input-output analysis KW - Phillips curve KW - Econometric models. KW - Interindustry economics KW - Unemployment KW - Economics, Mathematical KW - National income KW - Input-output tables KW - Natural rate of unemployment KW - Mathematical models KW - Effect of inflation on KW - Accounting KW - Inflation KW - Labor KW - Macroeconomics KW - Production and Operations Management KW - Macroeconomics: Production KW - Labor Economics Policies KW - Price Level KW - Deflation KW - Labor Economics: General KW - Labour KW - income economics KW - Capacity utilization KW - Output gap KW - Labor policy KW - Industrial capacity KW - Production KW - Economic theory KW - Prices KW - Labor economics KW - Russian Federation UR - https://www.unicat.be/uniCat?func=search&query=sysid:11259756 AB - 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 "natural rates" of capacity and labor utilization above which inflation begins to accelerate; (2) estimating a production function with utilization-adjusted capital and labor inputs; and (3) defining potential output as the level of output obtained when both capital and labor are at their estimated natural rates. The results suggest that the output gap in Russia was negative between 1999 and 2003, but may have recently become positive, thus contributing to inflationary pressures. ER -