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Fiscal consolidation by intergovernmental transfers cuts? The unpleasant effect on expenditure arrears
Economic Modelling. 2019. Vol. 77. P. 266–275.
Chiades P., Greco L., Mengotto V., Moretti L., Valbonesi P.
On a large dataset of Italian municipalities for the period 2003–2014, we investigate unexplored effects of fiscal consolidation in decentralized public finance. Based on a simple, realistic theoretical model, we show that municipalities increase arrears on committed public investment expenditure as a response to intergovernmental transfer cuts. Then, we test our predictions controlling for potential sources of endogeneity, and find that a reduction in central government transfers causes a significant increase in arrears, besides other usual adjustments to local fiscal policy (e.g., tax revenues). Our results highlight a perverse effect of fiscal consolidation packages implemented by centrally imposed fiscal restraints.
JEL classification: H30; H72; H77; C33; C36.
Publication based on the results of:
Kaisarova V. P., Коклев К. С., СПб.: Издательство СПбГЭУ, 2025.
The article examines the trends in the development of territorial accessibility of public transport for the population of the largest city based on the geoinformation analysis of the spatial features of its infrastructure. The article provides a transport dynamic for the period 2015-2024 based on cluster analysis of data on individual types of transport and ...
Added: May 25, 2026
Paklina S., Parshakov P., Teplykh G., The Journal of the New Economic Association 2026 Vol. 70 No. 1 P. 279–301
This paper investigates the relationship between online recruitment and unemployment in Russia within the Beveridge curve (the unemployment–vacancy curve) framework. Using panel data for 81 Russian regions over the period 2006–2022, we examine how the expansion of online job boards affects regional unemployment dynamics. The empirical
analysis is based on fi xed- effects and instrumental- variable ...
Added: May 22, 2026
Rincon C. J., Alekseeva O., Vukovic D. et al., Risk Management 2026 No. 28 Article 38
This study examines the long-term effects of the European Central Bank’s (ECB) unconventional monetary policy (UMP) interventions on the yields of sovereign bonds in the Eurozone. Using a sample of 14 European countries from January 2009 to December 2023, our findings indicate that increases of 1 billion euros in the ECB’s balance sheet are associated ...
Added: May 22, 2026
Монгуш В. Р., Novikova A., Креативные индустрии 2026 Т. 2 № 1 С. 23–41
This article analyzes the historical and cultural background, as well as the current situation and development prospects of the creative industries ecosystem in the Republic of Tuva. A comparative analysis of this remote, subsidized region and its neighbors, the Sakha Republic (Yakutia) and Krasnoyarsk Krai, revealed its strengths, vulnerabilities, and strategies of young creative professionals ...
Added: May 21, 2026
Zizin A., Plotnikov S., Деева В. В. et al., Инновации и инвестиции 2025 № 6 С. 36–39
The article is devoted to the study of the innovative infrastructure of Russian universities. The importance of developing innovative infrastructure, the practice of their formation (using the example of the country's leading universities) is studied. A classification of infrastructure objects is given and the effectiveness of their use in the practice of Russian universities is ...
Added: May 21, 2026
Plotnikov S., Деева В. В., Тенденции развития науки и образования 2023 № 102-2 С. 113–120
In the scientific article are considered the main technologies of corporate innovative entrepreneurship. Each technology is examined separately, which allows for understanding the purposefulness of using each tool in practice at your company. ...
Added: May 21, 2026
Plotnikov S., Деева В. В., Деева А. В., Тенденции развития науки и образования 2023 № 102-2 С. 64–67
Short-term cyclicity in modern economic systems is caused by a number of factors, including insufficient information. Information about the state of the market, supply and demand is received with a delay due to the processes of its collection, processing and dissemination. The time lag in obtaining information affects the business activity of enterprises, since they ...
Added: May 21, 2026
Abashkin V., Abdrakhmanova G., Bogdanov T. et al., М.: НИУ ВШЭ, 2026.
Институт статистических исследований и экономики знаний НИУ ВШЭ изучает аспекты цифровой трансформации машиностроения, в том числе оценивает необходимый для этого ресурсный, в частности кадровый, потенциал организаций отрасли.
Эмпирической базой для анализа послужили результаты обследования более 1,7 тыс. организаций машиностроения, проведенного в 2025 г. в рамках Мониторинга цифровой трансформации бизнеса. К машиностроению отнесены производители: компьютеров, электронных и оптических изделий (код по ОКВЭД2 — 26); электрооборудования (27); ...
Added: May 21, 2026
Abashkin V., Abdrakhmanova G., Bogdanov T. et al., М.: НИУ ВШЭ, 2026.
Институт статистических исследований и экономики знаний НИУ ВШЭ изучает аспекты цифровой трансформации машиностроения, в том числе оценивает текущий уровень использования цифровых технологий и перспективный спрос на них.
Эмпирической базой для анализа послужили результаты обследования более 1,7 тыс. организаций машиностроения, проведенного в 2025 г. в рамках Мониторинга цифровой трансформации бизнеса. К машиностроению отнесены производители: компьютеров, электронных и оптических изделий (код по ОКВЭД2 — 26); электрооборудования (27); машин и оборудования, не включенных в другие ...
Added: May 21, 2026
Abashkin V., Abdrakhmanova G., Bogdanov T. et al., М.: НИУ ВШЭ, 2026.
Институт статистических исследований и экономики знаний НИУ ВШЭ изучает аспекты цифровой трансформации химической промышленности, в том числе оценивает необходимый для этого ресурсный, в частности кадровый, потенциал организаций отрасли.
Эмпирической базой для анализа послужили результаты обследования более тысячи организаций химической промышленности, проведенного в 2025 г. в рамках Мониторинга цифровой трансформации бизнеса. К химпрому отнесены в соответствии с ОКВЭД2 производители: химических веществ и химических продуктов (код по ОКВЭД2 — 20); лекарственных средств ...
Added: May 21, 2026
Abashkin V., Abdrakhmanova G., Bogdanov T. et al., М.: НИУ ВШЭ, 2026.
Институт статистических исследований и экономики знаний НИУ ВШЭ изучает аспекты цифровой трансформации химической промышленности, в том числе оценивает текущий уровень использования цифровых технологий и перспективный спрос на них.
Эмпирической базой для анализа послужили результаты обследования более тысячи организаций химической промышленности, проведенного в 2025 г. в рамках Мониторинга цифровой трансформации бизнеса. К химпрому отнесены в соответствии с ОКВЭД2 производители: химических веществ и химических продуктов (код по ОКВЭД2 — 20); лекарственных средств и материалов, ...
Added: May 21, 2026
Lola I. S., Asoskov D., [б.и.], 2026.
Центр конъюнктурных исследований Института статистических исследований и экономики знаний НИУ ВШЭ представляет информационный обзор, характеризующий деловые тенденции, сложившиеся в отрасли информационных технологий (ИТ-отрасль) в 2025 г.
Работа базируется на результатах ежегодного специализированного конъюнктурного мониторинга деловой и цифровой активности около 700 организаций, оказывающих информационно-технологические услуги (код по ОКВЭД 2 – 62, 63). Мониторинг проводился АНО ИИЦ «Статистика России» по заказу ...
Added: May 20, 2026
Lola I. S., Ostapkovich G. V., Asoskov D. et al., ИСИЭЗ НИУ ВШЭ, 2026.
Центр конъюнктурных исследований Института статистических исследований и экономики знаний Национального исследовательского университета «Высшая школа экономики» подготовил информационно-аналитический материал, характеризующий экономические настроения российских предпринимателей и потребителей в I кв. 2026 г. - «Индекс экономического настроения (ИЭН ВШЭ)». Информационная база мониторинга содержит накопленную за 1998-2026 гг. категориальную статистику «балансов мнений», базирующуюся на ответах респондентов. Такая «мягкая» качественная статистика ...
Added: May 20, 2026
Ausubel L., Baranov O., Journal of Economic Theory 2026 Vol. 235 No. 106192
The Vickrey-Clarke-Groves (VCG) mechanism is one of the most compelling constructs in mechanism design, but the presence of complementary goods creates the possibility of non-core and even zero-revenue outcomes. In this article, we show that joint feasibility constraints on allocations offer a second pathway to ill-behaved outcomes in the VCG mechanism, even when all bidders ...
Added: May 20, 2026
Кумар В., MSW Management 2026 Vol. 36 No. 1s P. 1746–1753
This study explores how profitability, export efficiency, and cost functionality correlated with the financial sustainability index (FSI) for Indian manufacturing companies and the development of the early warning system. The study was conducted on 50 Indian manufacturing companies those participate in the export business, whose data has been collected for the nine quarters from 2023 ...
Added: May 19, 2026
Tekic A., Nguen C. M., Business Horizons 2026 Article In Press, Journal Pre-proof
Fast-moving consumer goods (FMCG) firms face intense pressure to internationalize, yet the traditional playbook—lengthy R&D cycles, costly market research, and standardized campaigns—often struggles to deliver local relevance at speed. This article argues that crowdsourcing—digitally mediated, large-scale consumer participation—can complement established internationalization tools by mobilizing local knowledge and community endorsement to mitigate key aspects of the ...
Added: May 19, 2026
Ulanov V. L., Springer, 2026.
This work is subject to copyright. All rights are solely and exclusively licensed by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, ...
Added: May 19, 2026
Semerikova E. V., Салов А. И., The Journal of the New Economic Association 2026 Vol. 1 No. 70 P. 221–237
In this paper, we assess the extent of agglomeration externalities that
mirror on labour productivity gains while accounting for the direct and indirect effects
of transportation exposure. To this end we combine data on the local average wage and
employment with comprehensive information on the public transportation and road networks
of the Saint Petersburg Metropolitan Area, one of the ...
Added: May 19, 2026
Voytenkov V., Emerging Markets Review 2026 No. 101482 P. 1–37
This paper examines the effects of the 2008, 2014, and 2020 crises on household consumption patterns in Russian regions. The micro-level analysis is conducted using quarterly data from Rosstat's Household Budget Survey. Dependent variables are expenditure on food at home, out-of-home, alcohol, non-food items, services. Explanatory variables are household characteristics and dummy variables that capture ...
Added: May 18, 2026
Lodiagin B., Nazarova V., Rincon C. J., URBAN, PLANNING AND TRANSPORT RESEARCH 2026 Vol. 14 No. 1
This study applies an established social cost–benefit analysis (CBA), combined with sequential shock scenarios (COVID-19 and the post-2022 sanctions) and Monte Carlo sensitivity analysis, to evaluate the welfare robustness and recovery dynamics of the Pulkovo Airport PPP renovation project (St. Petersburg, Russia). Using traffic, operations, and cargo forecasts through 2040, we compare a pre-shock baseline ...
Added: May 17, 2026
Brodetskiy G., Gerami V., Shidlovskii I. et al., Транспорт: наука, техника, управление 2026 № 3 С. 3–8
В статье предложен специальный метод модификации процедур многокритериальной оптимизации. Он позволяет расширить набор критериев выбора, чтобы учитывать предпочтения лица, принимающего решения (ЛПР) как раз в моделях транспортного обеспечения работы цепей поставок. Реализуется изменение наклона направляющей для линий уровня критерия выбора в пространстве значений частных критериев (с нацеливанием выбора на утопическую точку). Разработаны и представлены требуемые ...
Added: May 17, 2026
Ustyuzhanin V., / Series Econometrics "arxiv". 2026.
This paper proposes Covariate-Balanced Weighted Stacked Difference-in-Differences (CBWSDID), a design-based extension of weighted stacked DID for settings in which untreated trends may be conditionally rather than unconditionally parallel. The estimator separates within-subexperiment design adjustment from across-subexperiment aggregation: matching or weighting improves treated-control comparability within each stacked subexperiment, while the corrective stacked weights of Wing et ...
Added: April 3, 2026
Vorchik A., / Social Science Research Network. Серия SSRN Working Paper Series "SSRN Working Paper Series". 2026.
This article is devoted to the phenomenon of intrinsic motivation, to understand which two models are proposed. We study how positive/negative intrinsic motivation to work (experienced utility) affects worker's individual labour supply (model I) and the amount of effort they exert (model II). In model I, we use intrinsic motivation to explain the positive/negative slope ...
Added: March 15, 2026
Vorchik A., Мамышев М. А., / Series Social Science Research Network "Social Science Research Network". 2025.
In this paper, we develop a formal mathematical model aimed to explain the Dunning-Kruger effect that beginners systematically overestimate their own competence in various fields of knowledge and activity. We argue that the Dunning-Kruger effect arises from the emotional nature of confidence combined with unknown unknowns that it simply can not take into account due ...
Added: February 11, 2026