Теоретические и прикладные исследования экономики и экономической политики: сборник научных трудов
This book presents the results of research undertaken by faculty and staff members of the faculty of Economics NIU HSE - Saint-Petersburg. The book can be useful to scientific employees, teachers, students and post-graduate students and all those interested in problems of modern Economics and economic policy.
A model of global equilibtium based on Keynesian and Leontief's multioplier concepts is suggested.
Despite the availability of price comparison websites, online retailers are still able to price differentiate. The explanation of price dispersion will enable us to determine the key drivers of price premia, which are set by some of the merchants. We build a conceptual model of online pricing. In order to explain the variation of prices for the same good across different merchants, we use both merchant's characteristics (such as reputation, store format, self-delivery opportunities, SEO quality, etc.) and market characteristics (mean price, technical complexity of product category, number of sellers, the variation of sellers' ratings, etc.). Econometric estimation of this model will allow figuring out on which markets a merchant with specific characteristics will be able to set a higher price premium, which is important for merchants that need to choose the distribution channels, SEO, targeted service quality, assortment, etc.
We study Bertrand competition models with incomplete information about rivals' costs, where uncertainty is given by independent identically distributed random variables. It turns out that Bayesian Nash equilibria of the simplest of these games are described as Cournot prices. Then we discuss general conditions when Cournot prices give Bayesian Nash equilibria for Bertrand games with incomplete information about rivals' costs.
Almost quite traditional arguments on economic profits lead to peculiar criterion function. This function can be used as firm's choice criterion for static microeconomics modelling.
Financial markets tend to demonstrate extreme events in prices dynamics, among those are jumps leading to drastic prices’ changes and even regimes switching as well as for some instruments and for the markets overall.
Effective forecasting of price dynamics and actions planning by the market participants doesn’t necessary demand exact future price trajectories extrapolation, but estimation of duration of time periods, during which the prices won’t fall down more than a given mark could be enough.
In the paper an approach to forecasting durations between consequent market crashes is suggested. A significant autocorrelation was found in durations between crashes of DJIA during more than last 80 years. These autocorrelation allowed estimating a series of autoregressive conditional duration models to forecast time periods before next index crash. The models demonstrate significant forecasting power, especially in situations when consequent crashes appear rather frequently.
According to the Treaty of Frankfurt (1871) France lost Alsace and Lorraine. In the paper I estimate how a new border affected a growth of towns. Applying difference-in-differences methodology to census data for 1831-1911, I obtain paradoxical result. New border stimulates growth of nearby towns. Observed effect is turned to be persistent and robust to specification changes. Obtained results are contradicted to both theory and other empirical studies (Sturm, Redding (2008), Brülhart et al.(2012) and others).
Some aspects of social activity in Russia are investigates in this article – what can be meant, what kind of resources can be given for this sector from different types of investors. Problems and modern tendencies in Russian “third sector”. This article is a step of analysis for further research.
The main aim of the article is to feature historical and modern features of mergers and acquisitions (M&As) deals. For this will be considered: transaction history, the reasons for their appearance, fallacies and self-deceptions during the M&As. Moreover, M&As transactions will be characterized that take place between Russian insurance companies. For example, one of the deals will be characterized on the issue of comparative estimate of the economic productivity (the fit) of its execution.