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Regular version of the site
Of all publications in the section: 10
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Working paper
Rozanova N. M., Avdasheva S. B. EERC Working Paper Series. Economics Education and Research Consortium, 1999. No. 99/01.
Added: Jan 14, 2015
Working paper
Roshchin S., Markova K. EERC Working Paper Series. Economics Education and Research Consortium, 2004. No. 04/05.
Added: Jun 25, 2018
Working paper
Sidorov A. EERC Working Paper Series. Economics Education and Research Consortium, 2013. No. 13/02E.
The purpose of paper is to investigate how the interplay of trade, commuting and communication costs shapes economy at both inter-regional and intra-urban level. Specifically, we study how trade affects the internal structure of cities and how decentralizing the production and consumption of goods in secondary employment centers allows firms located in a large city to maintain their predominance. The feature of approach is using of two-dimensional city pattern instead of the “long narrow city” model.
Added: Apr 23, 2013
Working paper
Osharin A., Verbus V. EERC Working Paper Series. Economics Education and Research Consortium, 2015. No. 15/E03.
The present paper extends the traditional Dixit and Stiglitz set-up by introducing consumers’/workers’ heterogeneity into a general equilibrium model of monopolistic competition. The model obtains a closed-form solution for a symmetric equilibrium and shows how the market outcome depends on the joint distribution of consumers’/workers’ taste and labor productivities. In contrast to the traditional framework, our model predicts that the short-run equilibrium price may vary with the number of firms, demonstrating both anti- and pro-competitive behavior, which is in accordance with economic intuition and empirical evidence. Proposed approach is also capable to explain variability of the long-run equilibrium markups, which is observed empirically. Unlike the standard CES model, where markups are constant, in our setting the equilibrium markups depend on the covariance of tastes and productivity.
Added: Oct 18, 2015
Working paper
Bykadorov I., Kokovin S. G., Zhelobodko E. V. EERC Working Paper Series. Economics Education and Research Consortium, 2013. No. 13/08Е.
We study endogenous productivity in monopolistic competition with general (unspecified) utility/investment functions; a bigger investment yields smaller marginal cost. Then the equilibrium investments increase with the market size if and only if the utility (realistically) generates increasing demand elasticity and this increase can be abrupt (threshold effect). However, this technological advantage of a bigger country/city is different from a welfare advantage. To fit social optimality conditions, a governmental taxation/subsidy should be non-linear. Our extensions include comparisons among industries with different characteristics, exogenous technological progress, heterogeneous firms.
Added: Nov 17, 2013
Working paper
Pestova A., Mamonov M. EERC Working Paper Series. Economics Education and Research Consortium, 2013. No. 13/10E.
During the global financial crisis, the Russian banking system has experienced a significant increase in nonperforming loans. The Russian government has carried out massive recapitalization of major banks to maintain their stability. To evaluate the effectiveness of this policy it is necessary to identify the drivers of the credit risk increase in the affected banks. The main purpose of this research is to disentangle the influence of macroeconomic and bankЃ]specific factors that led to the increase in the nonperforming loans of Russian banks. To address this research question we use both panel data econometrics and multivariate statistical analysis in order to mutually verify the results obtained using different methods. We find that most of the negative influence on the loan quality of the median Russian bank came from the deterioration of macroeconomic conditions. At the same time about 10 percent of banks were themselves to blame in a sharp increase in nonperforming loan ratio during the 2008 crisis. The obtained results have strong policy implications and highlight the importance of macroprudential regulation for enhancing financial stability of the Russian banking sector.
Added: Oct 15, 2014
Working paper
Bykadorov I. EERC Working Paper Series. Economics Education and Research Consortium, 2010. No. 10/03E.
In Russia the chain-stores gained a considerable market power. In the paper we combine a Dixit-Stiglitz industry with a monopolistic retailer. The questions addressed are: Does the retailer always deteriorate welfare, prices and variety of goods? Which market structure is worse: Nash or Stackelberg behavior? What should be the public policy in this area?
Added: Nov 17, 2013
Working paper
Roshchin S., Razumova T. EERC Working Paper Series. Economics Education and Research Consortium, 2002. No. 02/07.
Added: Jun 25, 2018
Working paper
Sidorov A. EERC Working Paper Series. Economics Education and Research Consortium, 2011. No. 11/05E.
The project studies the Krugman's CP model in the weakly explored case of asymmetric regions in two settings: international trade and agglomeration processes. First setting implies that the industrial labor is immobile, while second one consider mobile industrial labor and long-run equilibria. Analytical study of both settings requires application of advanced mathematical analysis, e.g. implicit function theory. For international trade we find how equilibrium prices, production, consumption, wages and welfare for all population groups respond to shifts in all exogenous parameters: characteristics of utility function, transportation costs and degree of asymmetry in initial labor endowment. As for agglomeration process, it was found that the asymmetry in the population distribution simplifies pattern of agglomeration, making the direction of migration more definite, so the well-known ambiguity of final destination may disappear under sufficiently large extent of asymmetry. From political point of view, it means that under some conditions, openness of international trade may be harmful to immobile population of the smaller country
Added: Apr 23, 2013
Working paper
Prakhov I. A. EERC Working Paper Series. Economics Education and Research Consortium, 2012. No. 12/08E.
This paper examines the effects of pre-entry coaching (both in terms of money and efforts) on achievement of Russian high school graduates as measured by the results of the Unified state examination (USE). Using a dataset of students from the 16 biggest Russian cities, which includes information on USE results, family background, school characteristics and patterns on pre-entry training, we estimate the factors which determine the final USE results. Parental education, family income, student’s abilities and whether or not the student graduated from a gymnasium or magnet school are significant predictors of USE results in Russian, Mathematics and the average USE score. Characteristics of pre-entry courses (duration of a program as well as total fee) have positive influence on USE scores, but the effect of this kind of pre-entry training is moderate. Attending classes with tutors has a significant (but still moderate) effect only on the USE score in Russian.
Added: Sep 9, 2012