-%D0%B4%D0%B5%D0%BD%D1%8C%D0%B3%D0%B8-%D0%BA%D0%B0%D0%BB%D1%8C%D0%BA%D1%83%D0%BB%D1%8F%D1%82%D0%BE%D1%80.jpg "Piggy Bank in Crisis, or How Russians Save")
Piggy Bank in Crisis, or How Russians Save
More than half (51%) of Russians did not make savings before the current economic crisis and are not making any today. As of the end of 2016, 70% of Russians did not have any outstanding loans or debts. Researchers of the HSE Institute for Social Policy (ISP) examined Russians' borrowing and saving behaviour in the ‘Monitoring of Russian Population in 2016: Revenues, Expenditures and Social Well-being’.
Employers Increasingly Find Employees Online
The internet has changed how people approach job hunting and recruitment. Employment websites and social networks are now competing with personal connections as the key channel for offering and finding jobs and have replaced most other channels, according to Sergey Roshchin, Sergei Solntsev and student at the HSE ICEF Dmitry Vasilyev's paper 'The Evolution of Job Hunting and Recruitment in the Internet Age'.
Why Economic Forecasters Fail
The human factor, a reluctance to scare investors and the absence of tangible rewards for predicting recessions are some of the reasons why professional forecasters sometimes fail to signal economic downturns. In their study, Sergey Smirnov and Daria Avdeeva found evidence indicating that professional forecasters tend to hold on to optimistic scenarios for too long.
Trust in Banks Low, Yet Private Deposits on the Rise
In 2015, Russians’ trust in banks dropped sharply as the country’s economy faced a crisis, yet at the same time, the amount of individual bank deposits paradoxically increased, according to findings from a survey conducted by LSES as part of the "Monitoring Financial Behaviour and Consumer Confidence in Financial Institutions" project (2009-2015).
'To Work at the Economic Development Ministry, You Need Professional Training and a Very Mobile Mindset'
HSE alumnus Oleg Fomichev, who is currently Deputy Economic Development Minister of Russia, has tried to make the ministry’s work more understandable to the average Russian, and he allows those who work under him to be creative in their work with such a conservative discipline as economics. In an exclusive interview with Success Builder, Fomichev discusses what it is like working as a state official, as well as why a recent college graduate might be interested in such a field.
Drawing Lessons for Russia from the Global Financial Crisis
An expert in the economics of transition, corporate finance, organizational economics as well as law and economics, Dr. Ichiro Iwasaki, Professor of Economics at the Institute of Economic Research (Hitotsubashi University, Japan), will present a lecture entitled ‘What we learnt from the Russian experience during the global financial crisis: A corporate governance perspective’ at the upcoming XVII April International Academic Conference on Economic and Social Development. He recently agreed to speak with the HSE news service about his research, his long interest in Russian economics, and his view on how to achieve successful international academic collaboration.
Honorary Lecture by Professor Lawrence Kotlikoff at HSE ICEF
On January 15, Professor Larry Kotlikoff gave a talk on measuring inequality in lifetime spending power within different age cohorts in the USA, net tax rates facing Americans, and current wealth indicators.
Informal Revenues Increase Credit Worthiness of Mortgage Borrowers
Mortgage borrowers who have unconfirmed income turn out to be unable to repay the loan less often than public officials, whose income consists of their official salary only. The probability of loan default is also considerably influenced by the cost of the loan. These were the findings of a study conducted by Alexander Karminsky, HSE Professor, and Agata Lozinskaya, Junior Research Fellow at the HSE campus in Perm.
Thomas Piketty Delivers a Lecture at HSE
On November 26, Thomas Piketty, a famous French economist, delivered a lecture at HSE and presented the Russian edition of his best-selling book Capital in the Twenty-First Century. The event was organized by HSE Laboratory for Studies in Economic Sociology and Moscow Centre for Franco-Russian Research (Centre d’études franco-russe de Moscou - CEFR) with the support of French Embassy in Russia and French Institute (Institut Français).
Employers Not Interested in Migrant Workers' Experience and Education
In Russia, the demand for migrant workers is highest in economically developed and resource-extracting regions, in areas with low population density, and in construction and industrial companies. Employers prefer to hire low-skilled migrants with no education beyond secondary school and limited work experience of less than a year, since these workers are much cheaper than locals. These are some of the findings from a study by Elena Vakulenko, Assiant Professor at the Department of Applied Economics, HSE Faculty of Economic Sciences, and HSE student Roman Leukhin.