High momentum returns cannot be explained by risk factors, but they are negatively skewed and subject to occasional severe crashes. I explore the timing of momentum crashes and show that momentum strategies tend to crash in 1-3 months after the local stock market plunge. Next, I propose a simple...

We show that a market involving a handful of large-scale firms and a myriad of small-scale firms may give rise to different types of market structure, ranging from monopoly or oligopoly to monopolistic competition through new types of market structure. In particular, we find conditions under...

The paper examines collective memory of British and Russian youth. The authors use the results of surveys conducted among Russian and British students. They focus primarily on the structure of pride in the collective memory of young people. They propose to analyze the category of pride among...

This paper examines knowledge spillovers across ethnic boundaries using the case of German immigration to the Russian Empire. We digitize the data on Saratov province in the early 20th century, and find that distance to German colonies predicts the prevalence of heavy iron ploughs, fanning mills...

The Eurasian Economic Union (EAEU) is an emerging regional organization of economic integration in the post-Soviet space. Following the limited success of previous integration attempts, it seeks to pursue deeper integration, borrowing features from the EU.The EAEU possesses a complex system of...

This article studies the evolution of housing rents in St. Petersburg between 1880 and 1917, covering an eventful period of Russian and world history. We collect and digitize over 5,000 rental advertisements from a local newspaper, which we use together with geo-coded addresses and detailed...