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2009, Issue 3-4. Abstracts


A.A. Vasin, The Lomonosov Moscow State University, Moscow, Russia

 

Evolutionary Game Theory and Economics. Part 1. Optimality Principles and Models of Behavior Dynamics

 

The paper discusses basic concepts of the evolutionary game theory and provides a survey of the most important applications to modeling of economic behavior. We expound the foundation for application of the Nash equilibrium concept to agents with bounded rationality and incomplete information. We discuss models of formation of payoff functions, or evolution of preferences.

 

Key words: evolutionary stable strategy, replicator dynamics, adaptive dynamics

JEL classification: C73.

 


 

S. Weber, SMU, Dallas, USA

J. Gabszewicz, CORE, Louvain-la-Neuve, Belgium

V. Ginsburgh, ECARES, Brussels, Belgium

A.V. Savvateev, CEMI, NES, Moscow, Russia

А.Y. Filatov, ISEM, ISU, Irkutsk, Russia

 

Linguistic Diversity and Its Impact on Economic policies and Political Decisions

 

The paper addresses the issue of linguistic diversity and its impact on economic policy and political decisions. Importance of the topic is illustrated by examination of optimal sets of official languages in the European Union. It is shown that alternative estimation methods of language disenfranchisement alter the order in which the languages enter the list of the official ones. Also, we present an overview of gametheoretic models of language acquisition, where individuals weigh costs and benefits of studying new languages. These models are used to predict actual distribution of language skills in a society and to compare it with the first-best outcome. The paper ends with estimation of our predictions on the basis of empirical analysis of European data.

 

Key words: game theory, linguistic models, communication benefits, costs of studying,

official languages of the European Union, Nash equilibrium, public efficiency

JEL classification: C72, D70, O52, Z13

 


 

A.Y. Knobel, The Institute for the Economy in Transition, Moscow, Russia

 

Vertical Integration and Economic Growth: An Empirical Study

 

The paper is devoted to an empirical study of determinants of vertical integration and their influence on economic growth. We verified the following hypotheses: higher quality of institutions reduces probability of vertical integration; productivity levels of participants in vertical integration influence on its probability in different ways; higher import quota of an economy helps reducing the degree of vertical integration; the degree of vertical integration in an economy influence on economic growth in different ways depending on the stage of economic development.

 

Key words: vertical integration, economic growth, institutional development

JEL classification: L22, O17, O33

 


 

M.Y. Andreev, Computing Centre, Moscow, Russia

N.P. Pil'nik, State University - Higher School of Economics, Mоscow, Russia

I.G Pospelov, Computing Centre, Moscow, Russia

 

Rational Expectation Model of Modern Russian Banking System and the Strong Turnpike Property

 

An econometric analysis of modern Russian banking system is carried out. A set of discovered relations was used as constraints in a mathematical model of banking system under the assumption of rational expectation (perfect foresight) of agents. A strong turnpike property is found: agents' optimal equilibrium plans are independent of the future information variables. The turnpike property allows reduction of bank's boundary problem to dynamic problem.

 

Key words: banking system of Russia, general equilibrium model, rational expectation

JEL classification: C68, D58, G21

 


 

K.A. Sosunov, HSE, Moscow, Russia

N.Y. Ushakov, HSE, Moscow, Russia

 

Determination of the Real Exchange Rate of the Ruble and Assessment of Long-Run Policy of Real Exchange Rate Targeting

 

The equilibrium real exchange rate of the Russian ruble is estimated for the period from the early 1995 to the early 2008. According to the methodological approach proposed by Edwards (1988), the equilibrium real exchange rate is a function of a set of fundamental variables (a so-called "reduced form equation"). In order to estimate an equilibrium real exchange rate, a set of fundamentals was selected: terms of trade; productivity differential; fiscal policy variable. Estimation was performed in a co-integrated VAR framework using the Johansen co-integration test. The speed of adjustment of the actual real exchange rate to the equilibrium real exchange rate as well as the influence of monetary policy and private capital flows on the short-run dynamics of real exchange rate is explored.

 

Key words: equilibrium exchange rate, cointegrated var framework, real exchange rate misalignment, a half life

JEL classification: C32, F31, F41

 


 

V.Y. Dementiev, CEMI RAS, Moscow, Russia

 

Struggle for Nanotechnological Leadership: the USA, EU, China, Russia

 

Russia's policy in the sphere of nanotechnology is compared with similar policies in the USA, EU and China. Influence of industrial structure on financing of R&D is shown. It is proved that modernization of the Russian manufacturing under the current long wave is the basic factor for successful participation of this country in the struggle for nanotechnological leadership.

 

Key words: nanotechnology, long waves, import of technologies, coordination trap

JEL сlassification: O32, O33, O38, O57

 


 

L.B. Vardomsky, IE RAS, Moscow, Russia

 

Russia's Economic Space in the Context of Global Financial and Economic Crisis

 

Structural changes in Russia's economic space are caused mainly by processes in the global economy. The world crisis has changed the Russian spatial mode of development since financial resources were dramatically reduced. Trends of spatial development during the period of economic growth and at the initial stage of crisis are considered.

 

Key words: crisis, external economic relations, region, spatial development, centre, periphery

JEL classification: F20, R12

 


 

V.A. Salnikov, CMASF, IEF RAS, Moscow, Russia

 

Russian Industry: Major Trends under the Crisis

 

The paper contains an in-depth analysis of basic trends in Russian industrial production during the mid-2008 - 2009 crisis. Dramatic changes in output and profits by sector are considered, as well as companies' reaction to these challenges. Certain aspects of recent government anti-crisis policy are discussed. The paper outlines short- and mid-term industrial production perspectives. Special attention is drawn to methodological and statistical aspects of analyzing current industrial trends.

 

Key words: Russian industry trends under the crisis; industrial sectors; output volumes and profits; quality of statistics, import substitution

JEL classification: E23, L16, L52

 


 

G.M. Sternik, Plekhanov Russian Academy of Economics, Moscow, Russia

 

Recession in the Market of Residential Construction and Real Estate in Russia

 

The paper gives quantitative evaluations, on the base of official statistics and author's personal research, of changes in the Russian market of residential construction between autumn of 2008 and summer of 2009. We present a more detailed account of residential construction in Moscow and Rostov-on-Don in May, 2009.

 

Key words: market of residential construction, construction periods, speed of construction, speed of putting into operation, categories of project quality, frozen construction projects

JEL classification: O18, R21

 


 

F.T. Aleskerov, The State University – Higher School of Economics, Moscow, Russia

 

How to Prepare and Write a Thesis? Advices to Ph.D and Ms Students in Economics

 

It is the text of the lecture given to the students of the State University Higher School of Economics on April 10, 2008. Two problems are discussed: how to write thesis and how to write articles.

 

Key words: dissertation, article, lecture

JEL classification: Y4

 





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