More than half of all Russian banks have gone bankrupt since the beginning of commercial banking in Russia ten years ago. It is poor macroeconomic environment that is usually blamed for banking crises. However we think that excessive risk-taking by banks themselves contributed a lot to their...

The project assesses the sub-federal regulation of market entry around Russian regions by addressing two problems: what are the consequences of the regulation and what determines the variation of the market entry regulation among the regions. Assumptions of public interest regulation and public...

The ideal measure of inflation reflects long-run price movements driven by actual demand in the economy and excludes short-term supply shocks. Considering that CPI does not correspond to such a measure, the purpose of this research is to analyze alternative methods of core (or underlying)...

The objective of this project is an evaluation of the scale of corruption in the Russian tax system and of economic losses in Russia. The sources of the losses are: tax evasion by corrupt economic subjects; the redistribution of the burden of taxation; the reduction of scales of economy; and the...

A probability of a partner not fulfilling his forward contract obligations (contract failure) increases in a transition economy. This project investigates the process of price and quantity discovery in a laboratory setting when there is (1) an endogenous choice between forward and spot market...

The main goals of the proposed project are: thorough analysis of the major approaches to early warning crisis prediction, testing of the most successful existing crisis models with reference to Kyrgyzstan data, and selection of the optimal financial crisis model for Kyrgyz Republic.

The study raises the problem of human capital heterogeneity at the Russian labor market caused by non-random distribution of unobservable skills across the population of a transition country. At the beginning of the transition, people who were grown up in different times or cultures have...

The paper shows that, in 1993-1997, larger month-to-month real appreciation in Russia was associated with larger month-to-month increase in the aggregate supply, supposedly because of a decrease in the prices of imported production inputs. At the same time, according to our estimations,...

In this normative study of fiscal competition mechanism, we allow for various schemes of taxation, various mobility of tax-base, non-identical regions, and nonbenevolent governments. We examine the fundamental trade-o® between “negative externalities” of the competition and benefits from...

The paper researches into the consequences of the pit reform of 2004 introduced on tax revenues, shadow activities, and income streams. The research approach adopted involves constructing theoretical general equilibrium model adapted to Ukrainian practices and further empirical testing of the...