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May 15, 2026
Preserving Rationality in a Period of Turbulence
The HSE International Laboratory for Logic, Linguistics and Formal Philosophy studies logic and rationality in a transformed world characterised by a diversity of logical systems and rational agents. The laboratory supports and develops academic ties with Russian and international partners. The HSE News Service spoke with the head of the laboratory, Prof. Elena Dragalina-Chernaya, about its work.
May 15, 2026
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Ilya Venediktov graduated from the Master’s programme at the HSE Tikhonov Moscow Institute of Electronics and Mathematics through the combined Master’s–PhD track and is currently studying at the HSE Doctoral School of Engineering Sciences. At present, he is undertaking a long-term research internship at the University of Science and Technology of China in Hefei, where he is preparing his dissertation. In this interview, he explains how an internship differs from an academic mobility programme, discusses his research topic, and describes the daily life of a Russian doctoral student in China.
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‘What Matters Is Not What You Study, but Who You Study with
Katerina Koloskova began studying Arabic expecting to give it up after a year—now she cannot imagine her life without it. In an interview for the Young Scientists of HSE University project, she spoke about two translated books, an expedition to Socotra, and her love for Bethlehem.

 

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Banks’ Foreign Currency Revaluations and Liquidity Creation

Emerging Markets Review. 2024.
Sokolov V., Gorodilov Alexey

We study the impact of net revaluations of assets/liabilities denominated in FX on banks’ liquidity creation. We utilize the Russian data and employ the Berger-Bouwman methodology to develop an index that considers the liquidity category and maturity of balance sheet items. We find a positive/negative effect of net revaluations on the asset-side/liability-side components of the liquidity creation. We test the “financial fragility hypothesis” predicting that higher capital reduces banks’ incentives to monitor borrowers and decreases liquidity creation. We find that capital and net evaluations negatively affect liquidity creation, which is driven by banks with FX assets exceeding FX liabilities.

Language: English
Full text
Keywords: liquidity creationBank capitalcurrency revaluationforeign currency mismatch
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