• A
  • A
  • A
  • ABC
  • ABC
  • ABC
  • А
  • А
  • А
  • А
  • А
Regular version of the site
Of all publications in the section: 122
Sort:
by name
by year
Working paper
Bogomolnaia A. Economics/EC. WP BRP. Высшая школа экономики, 2015
Aziz and Stursberg [1] propose an “Egalitarian Simultaneous Reservation” rule (ESR), a generalization of Serial rule, one of the most discussed mechanisms in random assignment problem, to the more general random social choice domain. We provide an alternative definition, or characterization, of ESR as the unique most ordinally-egalitarian one.  Specifically, given a lottery "p" over alternatives, for each agent "i" we define "t p/ii (k)" to be the total share in "p" of objects from her first "k" indifference classes. ESR is shown to be the unique one which leximin maximizes the vector of all such shares ("t p/i (k))i;k."  Serial rule is known to be characterized by the same property (see [2]). Thus, we provide an alternative way to show that ESR, indeed, coincides with Serial rule on the assignment domain. Moreover, since both rules are defined as the unique most ordinally-egalitarian ones, out result shows that ESR is "the right way" to think about generalizing Serial rule.
Added: Dec 4, 2015
Working paper
Govorun A. V., Marques II I., Pyle W. Economics/EC. WP BRP. Высшая школа экономики, 2013
How does political competition shape the way that firms pursue legislative change? A rich political economy literature describes various ways in which firms influence the design and enforcement of laws, rules and regulations germane to their business activities. Although helpful, this literature is disconnected from work on legislative accountability and political concentration. Making a distinction poorly developed in prior research, we contrast firms that choose to influence policy directly, through un-mediated contacts with executive and legislative branch personnel, and those that do so indirectly, through lobby groups acting as intermediaries. We propose a simple theory that relates the relative costs of lobbying and the strategies firms select to the extent of political competition and concentration. As competition increases and concentration decreases in a region, the use of indirect channels of lobbying becomes more attractive (and vice versa). We test our theory using a survey of 1013 firms across 61 Russian regions. Exploiting substantial variation in political competition and concentration across Russia’s regions, we find that firms in politically competitive environments, where there is less concentration, are more likely to use business associations to influence their institutional environment. Using a survey of 315 business associations, we show that these effects may be explained by the variation of the willingness of regional decision-making officials to support more or less encompassing policies depending on local political environment.
Added: Jan 10, 2014
Working paper
Travkin Pavel. Economics/EC. WP BRP. Высшая школа экономики, 2014. No. 56.
This paper investigates the wage return to job-related training using a difference-in-differences estimator to control for unmeasured differences in ability and measured differences in past wages as a proxy for ability and motivation. Estimates use data from the Russia Longitudinal Monitoring Survey HSE from 2004 to 2011. As predicted, positive returns to training are identified, and the returns increase absolutely with the level of past wages, consistent with human capital and selection models.
Added: Apr 15, 2014
Working paper
Kuznetsova O., Merzlyakov S. Economics/EC. WP BRP. Высшая школа экономики, 2015. No. 102.
This paper explores the role of uncertain government preferences for fiscal and monetary policy interaction. Our analysis shows that uncertainty of the government preferences does not affect macroeconomic equilibrium if fiscal multiplier is known. In case of multiplicative uncertainty, uncertain government preferences make fiscal policy more contractionary, while monetary policy becomes more expansionary. This leads to higher expected inflation and lower expected output, which means stronger inflation bias.
Added: Oct 16, 2015
Working paper
Goncharenko V., Pokrovsky D. A., Shapoval S. Economics/EC. WP BRP. Высшая школа экономики, 2018. No. 196.
In this paper, we introduсe a simple new theory on mixed сompetition between oligopolistiс firms and the competitive fringe, assuming a comparative advantage for big firms and free entry for small firms. Oligopolies are defined as conglomerates, each part of which benefits from joint operations through lower costs. Our theory implies that (i) industries with a few oligopolies arise as a stable outcome of mixed competition; (ii) mixed competition differs from the monopolistic competition of single-product firms due to the underproduction of oligopolistic firms and differs from pure oligopolistic competition since constraints on this underproduction are imposed by the competitive fringe; (iii) a positive shock in the market size an strengthen or weaken the competitiveness of the economy through the growth of the number of oligopolies.
Added: Aug 15, 2018
Working paper
Kuznetsova O. Economics/EC. WP BRP. Высшая школа экономики, 2016. No. 126.
Economic literature is far from having a consensus about the social value of public information. Nevertheless, most studies agree that strategic complementarity increases the weight of public signals in private actions. In our paper we show that this result is not general. In a two-region model we relax the autarky assumption, common to previous studies, and suppose that strategic complementarity is present both inside and between the regions. When strategic complementarity is strengthened, the agents redistribute increased weight of public information between the signals from different regions. If the weight of the domestic public signal is sufficiently high, an increase in strategic complementarity may lower it. In this paper we study the welfare properties of this information structure and show that transparency in our model may be detrimental only if strategic complementarity is weak. Furthermore, we compare equilibrium information policies with the social optimum and show that policymakers in small regions tend to be too transparent, while policymakers in large regions tend to be too opaque.
Added: Mar 22, 2016
Working paper
Parenti M., Ushchev P., Thisse J. Economics/EC. WP BRP. Высшая школа экономики, 2016. No. WP BRP 121/EC/2016.
We propose a general model of monopolistic competition which encompasses existing models while being flexible enough to take into account new demand and competition features. Even though preferences need not be additive and/or homothetic, the market outcome is still driven by the sole variable elasticity of substitution. We impose elementary conditions on this function to guarantee empirically relevant properties of a free-entry equilibrium. Comparative statics with respect to market size and productivity shock are characterized through necessary and sufficient conditions. Furthermore, we show that the attention to the constant elasticity of substitution (CES) based on its normative implications was misguided: constant mark-ups, additivity and homotheticity are neither necessary nor sufficient for the market to deliver the optimum outcome. Our approach can cope with heterogeneous firms once it is recognized that the elasticity of substitution is firm-specific. Finally, we show how our set-up can be extended to cope with multiple sectors.
Added: Jan 25, 2016
Working paper
Kichko S., Kokovin S. G., Zhelobodko E. V. Economics/EC. WP BRP. Высшая школа экономики, 2014. No. WP BRP 54/EC/2014.
We develop a two-factor, two-sector trade model of monopolistic competition with variable elasticity of substitution. Firms' profits and sizes may increase or decrease with market integration depending on the degree of asymmetry between countries. The country in which capital is relatively abundant is a net exporter of the manufactured good, although both firm sizes and profits are lower in this country than in the country where capital is relatively scarce. The pricing policy adopted by firms neither depends on capital endowment nor country asymmetry. It is determined by the nature of preferences: when demand elasticity increases (decreases) with consumption, firms practice dumping (reverse-dumping)
Added: Apr 3, 2014
Working paper
Agasisti T., Egorov A., Zinchenko D. et al. Economics/EC. WP BRP. Высшая школа экономики, 2018
This paper analyses the link between the efficiency of regional higher education systems and the rates of regional economic development between 2012 and 2015 in Russia. The efficiency scores are calculated at the institutional level using a double-bootstrap data envelopment analysis (DEA) procedure, taking into account the different internal characteristics of universities which may affect their production process, and the scores are then aggregated at the regional level. We formulate a regional economic growth model that considers the efficiency of regional higher education systems as one of the explanatory variables. As an econometric method, we employ a robust GMM estimator. The model also includes spatial interactions between regional economies and between regional higher education systems in neighboring regions. The findings highlight a positive, substantial and statistically significant effect of HEI efficiency on the regional economic growth rate. We also found negative spillover effects indicating that efficient regional higher education systems may extract resources from neighboring regions.
Added: Nov 26, 2018
Working paper
Redkina A. Economics/EC. WP BRP. Высшая школа экономики, 2014. No. 62.
This article is motivated by a growing interest in the problem of merger control quality assessment. Remedies are one of the instruments of merger control and have a significant influence on the results of it. This paper aims to build and empirically evaluate a discrete choice model of merger remedies implementation in Russian merger control. The database consists of 443 merger cases accepted by the Russian antimonopoly agency between 2008 and 2011. We analyse the agency’s decisions to find which characteristics of merging firms and markets lead the Federal Antimonopoly Service to decide whether to allow conditional acceptance. We find that variables related to high market power lead more frequently to a remedy outcome. Such industries as the energy sector, communications and insurance positively affect the probability of a structural remedy. We do not find significant effects of “non-structural” variables, such as the world leader and the nationality of the firm-buyer.   
Added: Mar 17, 2015
Working paper
Solntsev S., Roshchin S., Ksenia Rozhkova. Economics/EC. WP BRP. Высшая школа экономики, 2018. No. 205.
Wage adjustments for employees are a reaction mechanism to changing market conditions and form a significant part of pay policy. Though various attempts to explore wage levels and wage differentials have been made, wage adjustment policies remain an understudied topic. This paper analyses the determinants of wage adjustments based on data from Russian enterprises 2015–17. The analysis is based on detailed data from an employer survey which covers more than 5,000 firms in both the public and private sector. The study adopts probit models to identify the reasons which determine wage revisions, depending on internal employer characteristics and external labour market conditions.  The results are in line with previous research on the topic (Bayo-Moriones et al., 2016) and suggest that both internal and external factors influence wage adjustments. A wage adjustment is a reflection of the ability to pay meaning that revisions are often made by successful firms with high employee turnover. Institutional frameworks, especially trade union activity, affects the firm’s decision to adjust wages despite the general opinion on the insignificance of unions in Russia. This study contributes to the limited literature by analysing the determinants of wage policies depending on the firm’s characteristics. This is the first study of its kind based on extensive Russian data. 
Added: Dec 10, 2018
Working paper
Kolosnitsyna M., Khorkina N., Dorzhiev K. Economics/EC. WP BRP. Высшая школа экономики, 2014. No. WP BRP 68/EC/2014.
The world population is ageing and this demographic trend has become the subject of numerous research projects and discussions. In Russia, this process has also become a topic for many studies examining socio-economic characteristics and health status of elderly, their retirement behaviours. That said, research on the life satisfaction of Russian seniors and its determinants is still rather scarce. At the same time, revealing the factors of life satisfaction in old age could help develop a sound state policy towards the elderly thus enhancing the well-being of society as a whole. This paper explores the determinants of elderly life satisfaction using micro-data from the Russian Longitudinal Monitoring Survey. Our research show that for all Russian seniors aged 55+ the strongest and most common predictors of life satisfaction are: health status, personal income, type of settlement, and social status. We found significant gender differences in factors of life satisfaction: an inverse U-relation of age and happiness is characteristic for the oldest old females only; holding a job enhances life satisfaction for women but not for men; and the education level of seniors has almost no correlation with life satisfaction, while having children decreases an individual’s happiness.
Added: Oct 16, 2014
Working paper
Ostrovnaya M., Podkolzina E. Economics/EC. WP BRP. Высшая школа экономики, 2013. No. 32.
In this paper we study antitrust intervention in long-term relationships between public procurer and his preferred supplier in one of the Russian regions. We presume that antitrust control of auctions held by affiliated procurer increases the risks of implementing long-term relationships with his preferred supplier. However we found out that after the intervention of antitrust agency the number of bidders in the auctions increased, but relative contract prices remained the same. We argue that procurer and preferred bidder invited firm with passive bidding strategy to decrease the risks of antitrust punishment. Thereby, antitrust intervention led to fake competition, but not to honest non-corrupt behavior in public auctions.
Added: Sep 4, 2013
Working paper
Ushakov N. Economics/EC. WP BRP. Высшая школа экономики, 2013. No. WP BRP 44/EC/2013 .
Higher wage flexibility of new hires is introduced as an extension of the baseline model in Gali (2010), combining the New Keynesian monetary analysis framework with labor market frictions. It was shown that the possibility of higher wage flexibility of new hires has an implication forcrucial labor market decisions made by households and firms,as well as on the form of social welfare loss function that is used to evaluate alternative monetary policies. Obtained extension allows one to conduct normative monetary policy analysis for different scenarios of degrees of higher wage flexibility fornew hires. Optimal monetary policy in the presence of higher wage flexibility of new hires is characterized by a higher incentive to make inflation more stable and by less incentive to facilitate adjustment of real wages in response to real shocks. Thus, the possibility of higher wage flexibility of new hires provides support toward more strict inflation targeting in the presence of nominal price and wage rigidities.
Added: Dec 20, 2013
Working paper
Zudina A. A. Economics/EC. WP BRP. Высшая школа экономики, 2017. No. WP BRP 177/EC/2017.
This article addresses the issue of socio-demographic factors of becoming NEET, i.e. dropping out of employment, education or training for individuals aged 15-24. Empirical analysis was based on the micro-data of Russian Labour Force Survey (LFS) by Federal State Statistics Service for 1995-2015. The paper introduces the results of the analysis of the impact of education on NEET status which were conducted for Russia on the basis of regression estimations for the first time. Contrary to previous studies, higher education doesn’t provide a universal ”safety net” from NEET status for all young people. NEET-unemployed youth in Russia mainly have tertiary education of one level or another, while NEET-inactivity is concentrated among those who have only primary education and the size of the effect becomes even more pronounced for rural residents and females.
Added: Oct 20, 2017
Working paper
Ivanova V., Ushchev P. Economics/EC. WP BRP. Высшая школа экономики, 2015. No. WP BRP 99/EC/2015.
We develop a dynamic model of monopolistic competition which sheds light on how the interplay between the degree of product differentiation and intertemporal elasticity of substitution affects the steady-state market outcome. Consumers love variety and split their labor endowment between wage labor, which brings immediate income, and producing capital, which promises a rent in the future. The impact of the elasticity of substitution across varieties on the market outcome depends crucially on whether consumption today and consumption tomorrow are gross substitutes or gross complements. The case of Cobb-Douglas intertemporal utility is a borderline situation, when the market outcome is invariant to the degree of product differentiation. We also fully characterize the unique steady-state equilibrium path and show that the key dynamic properties of the model, such as local stability and determinacy of equilibrium, also hinge mainly on the interplay between the intra- and intertemporal elasticities of substitution.
Added: Oct 10, 2015
Working paper
Borisova E., Govorun A. V., Ivanov D.S. et al. Economics/EC. WP BRP. Высшая школа экономики, 2014. No. 67.
Who will you help if you have a higher level of interpersonal trust? In a set of surveys of about 34,000 individuals done in 2007-2011 in Russia we show that higher levels of trust in a region are connected with more support for government redistribution in favour of those who performed services for their homeland (war veterans, distinguished teachers, doctors). Less demand for government support is found for the poor, the homeless, those having many children and others in difficult life situations as people expect help from others, i.e. that social capital substitute for the government. Overall higher trust could have outcomes that could not be interpreted as good for everybody. Promoting growth policies should account for it otherwise they could be counterproductive.
Added: Oct 22, 2014