The new institute is headed by Vasily Klucharev, a professor at the Higher School of Economics, who previously worked as Head of the School of Psychology. Vasily Klucharev told the HSE news team about what the School managed to achieve in four years, what the new institute will do and how attitudes towards psychology and neuroscience are changing.
Economic growth in developed countries has a dual effect. On one hand, people's living standards and consumer spending are on the rise, but on the other hand, this does not necessarily make people happy and may in fact erode subjective wellbeing and lead to economic crises. A new study co-authored by Francesco Sarracino, HSE LCSR Senior Associate Researcher, examines the reasons behind this phenomenon.
The ‘Green Spark’ installation by Elena Mitrofanova and Ivan Mitrofanov, project coordinators of the Shukhov Lab, and Paolo Bombelli from Cambridge University, has been selected from 68 projects to be exhibited as part of the Polytech Festival of Science, Art and Technology in May 2018. The festival, organized by the Polytechnic Museum, will take place in Moscow’s Gorky Park.
The paper examines the institute of minimum wage in developed and transition economies and in a number of the developing countries. First of all the institutional mechanism of minimum wage fixing is considered. One of the sections explores the dynamics of absolute and relative levels of minimum wage. The special attention is paid to the impact of the institute of minimum wage on the labour market. The author considers the mechanism of transmission of the minimum wage increases on the employment and unemployment dynamics. The paper also contains the result of the empirical research. The experience of many countries witnesses that large increases in minimum wage levels lead to the stagnation of the employ-ment, especially of the disadvantaged groups. The negative effect is larger for the companies with higher share of labour costs and more active use of unqualified labour, that is small businesses and agricultural enterprises. One of the main conclusions is that the minimum wage is not an effective tool of the poverty reduction as the majority of the recipients live in households of average and upper average income.