Dear Colleague,
We cordially invite you to the next wiiw seminar on
Monday, 09 Ocober 2017, 5 pm
wiiw, Rahlgasse 3, 1060 Vienna, lecture hall (entrance from ground floor)
Indices of Regional Economic Activity for Russia
Sergey V. Smirnov
Higher School of Economics, ‘Development Center’ Institute, Moscow
Abstract
Radical disagreement between ‘month-on-month’ and ‘year-on-year’ monthly statistics is identified in regional statistics published by the Russian Federal State Statistics Service (Rosstat). In view of this, an original method is proposed for estimating the level of Regional Economic Activity (REA), based on monthly official regional statistics in five key sectors of the Russian economy: industry, construction, retail trade, wholesale trade, and paid services for the population. This method transforms current ‘year-on-year’ growth rates into specially constructed dichotomous variables which eliminate the excessive volatility and inaccuracy of the initial time series. On this basis, REA indices are estimated for all Russian constituent entities. Composite REA indices for all five economic sectors, eight federal districts, and Russia as a whole are then calculated. Methods for visualising multidimensional regional data are also proposed. They allow us to track the regional peculiarities of the Russian economy and to discern the current phase of the business cycle more accurately and without any additional lag.
We kindly ask you to register for the event. Participation is free of charge.
(Papers and presentation slides, as far as available, are posted on our homepage https://wiiw.ac.at/events.html after the respective seminars.)
Best regards,
| Dr. Robert Stehrer Scientific Director wiiw |
Dr. Sándor Richter Organiser |
Wiener Institut für Internationale Wirtschaftsvergleiche (wiiw)
The Vienna Institute for International Economic Studies
Rahlgasse 3, A-1060 Wien
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