The stock market dynamics in March was affected by several developments, such as a decrease in oil futures prices and the crisis situation in Cyprus. From the beginning of the month the growth was replaced by a reverse trend. The dynamics of stock market indices has led to a decrease in...

In March, Russia was faced with the unsavory prospect of a considerable loss of funds kept by Russian enterprises and individuals in Cyprus, traditionally one of the most attractive jurisdictions for Russian businesses A signifi cant portion of those funds was frozen or seized by the Cypriot...

Distributions of many variables of interest in developed economic and financial markets, including income and wealth, exhibit heavy tails as in the case of Pareto or power laws. Many commonly used income and wealth inequality measures are very sensitive to extremes and outliers generated by...

Empirical analyses on inequality measurement and those in other fields in economics and finance often face the difficulty that the data is correlated, heterogeneous or heavy-tailed in some unknown fashion. The paper focuses on analogues and modifications of the recently developed t-statistic...

This Policy Letter presents two event studies based on the pre-war data that foreshadows the remarkable way in which Russian economy was able to withstand the pressure from unprecedented package of international sanctions. First, it shows that a sudden stop of one of the two domestic producers...

Through a survey of CEOs of Russian industrial companies administered in the second half of 2011 we have tried to understand the forces that lead some firms to decide to engage in more innovative activities than others and examined the types of routines associated with this decision. We found...

Most people seem to think that Russia's economy and fiscal situation are still crucially tied up with international oil prices and the exchange rate of the rouble, although this view has recently been challenged by some analysts.Empirical research on this topic is, however, scanty.In this paper,...