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Regular version of the site

Projects 2021

Research units and departments invite PhD students entering in 2021 to participate in their projects.

Supervisor Specialty TitleProject DescriptionUnitMaximum number of PhD students to be involved
Svetlana Avdasheva JEL codes: K21 Antitrust Law; K41 Litigation Process; L4 Antitrust Issues and PoliciesProcedures and effects of competition policyThe project is devoted to the impact of the procedures of competition policy (antitrust, deregulation, industry-specific reforms) on competition and market performance. Among the procedures of competition enforcement, both investigations and decisions of competition agency and judicial reviews are considered. Effects of competition policy are analyzed on the market levelLaboratory of competition and antimonopoly policy, Institute of Industrial and Market Studies3
Fuad Akeskerov, Nikolay Berzon08.00.10 - Finance, money circulation and creditNetwork Analysis of International Banks InteractionWe are going to analyze the influential elements in the network of international banks using new centrality indices developed in our University.
These indices take into account the parameters of the vertices of the network (e.g., total assets of a bank) and group influence of the banks to the bank.
First attempt on this way has been made for the analysis of foreign claims (see Fuad Aleskerov, Irina Andrievskaya, Alisa Nikitina, Sergey Shvydun. Key Borrowers Detected by the Intensities of their Interactions, Handbook of Financial Econometrics, Mathematics, Statistics, and Machine Learning in 4 volumes (eds. Cheng Few Lee, John C. Lee), World Scientific, 2020, v.1, Chapter 9, pp. 356-389)
  
Eduard Dzhagityan08.00.14 - World EconomyPerspectives of minimization of systemic risks in the financial sector using macroprudential approach in the international framework of banking regulationThis project is a study of the sources and quantitative parameters of systemic risks in the period of post-crisis recovery, as well as efforts taken by the governments of the world’s leading economies and international financial regulators to ensure financial stability. By now, the issue of risk minimization in the financial sector still remains poorly understood thus debatable due to the lack of an internationally agreed approach to identification of systemic risks, which, in turn, downplays feasibility and effectiveness of regulatory reform. Among the variety of tools that would contribute to financial stability is macroprudential regulation; however, in the extant academic literature there is lack of a holistic view of it as a mechanism for reduction of stress in the financial sector. This project aims at further contribution to understanding the soundness, effectiveness, and limits of macroprudential regulation for financial stability.The Department of World Economy, Faculty of World Economy And International Affairs3. A Ph.D. student should possess the foundations of the econometric theory and methods of econometric analysis, as well as have profound knowledge of international finance. Priority is given to students who have at least one publication on the topic of the project in a journal from WoS/Scopus, or similar topic in the graduate qualification work (thesis).
If English is not student’s native language, the student should provide an English language test score. The minimum score is: IELTS (Academic Version) – 6.5; TOEFL (iBT) – 90; Cambridge Assessment English – C1 Advanced; PTE (Academic Version) – 180. The student whose native language is not English, might be exempt from the English language test if he/she already studied in the Bachelor or Master degree university programs in one of the following English-speaking countries: Australia, Canada, Ireland, New Zealand, UK, USA, and this applies to those graduated 5 (five) years ago or less.
Eduard Dzhagityan08.00.14 - World EconomyContemporary (post-crisis) model of international banking regulation (Basel III) in countries with integrated and fragmented financial markets: A comparative analysisThis project focuses on the study of the effect of Basel’s Core Principles for Effective Banking Supervision on mitigation of systemic risks, reduction of stress in the banking sector and ensuring financial stability in the countries / groups of countries with integrated and fragmented financial markets. Academic research in this area is scarce. The study complements the existing work on international banking regulation aiming at understanding the relationship between the structural specifics of national / regional financial markets and the effectiveness of the post-crisis banking regulation mechanism. The study is based on an analysis of the effect of the selected standards of prudential banking supervision on key performance indicators of banking activity depending on a number of factors, including how long the supervisory standards have been applied by banking regulators, the institutional affiliation of banking supervision, and the extent of interference of other macro-financial authorities in the development of national regulatory policies and implementation of measures to ensure financial stability.The Department of World Economy, Faculty of World Economy And International Affairs4. A Ph.D. student should possess the foundations of the econometric theory and methods of econometric analysis, as well as have profound knowledge of international finance. Priority is given to students who have at least one publication on the topic of the project in a journal from WoS/Scopus, or similar topic in the graduate qualification work (thesis).
If English is not student’s native language, the student should provide an English language test score. The minimum score is: IELTS (Academic Version) – 6.5; TOEFL (iBT) – 90; Cambridge Assessment English – C1 Advanced; PTE (Academic Version) – 180. The student whose native language is not English, might be exempt from the English language test if he/she already studied in the Bachelor or Master degree university programs in one of the following English-speaking countries: Australia, Canada, Ireland, New Zealand, UK, USA, and this applies to those graduated 5 (five) years ago or less.
Eduard Dzhagityan08.00.14 - World EconomyAssessment of the effect of bank stress testing on credit risks of global and national systemically important banks in terms of their interconnectedness in international financial marketsStress testing of large banks, as one of the main instruments of macroprudential regulation, is aimed at ensuring capital adequacy that would be sufficient for the continuum of financial intermediation, regardless of adverse externalities and crisis developments. There are a number of publications in this area providing evidence of stress testing as an effective macroprudential instrument; however, it is still not clear how the parameters of stress testing scenarios are consistent with the extent of interconnectedness of global and national systemically important banks. The study is based on the analysis of the efficiency of the stress testing tool in terms of stress testing scenarios in various countries / groups of countries in the context of the criteria of interconnectedness of global and national systemically important banks stipulated by the methodology of the Basel Committee on Banking Supervision.The Department of World Economy, Faculty of World Economy And International Affairs3. A Ph.D. student should possess the foundations of the econometric theory and methods of econometric analysis, as well as have profound knowledge of international finance. Priority is given to students who have at least one publication on the topic of the project in a journal from WoS/Scopus, or similar topic in the graduate qualification work (thesis).
If English is not student’s native language, the student should provide an English language test score. The minimum score is: IELTS (Academic Version) – 6.5; TOEFL (iBT) – 90; Cambridge Assessment English – C1 Advanced; PTE (Academic Version) – 180. The student whose native language is not English, might be exempt from the English language test if he/she already studied in the Bachelor or Master degree university programs in one of the following English-speaking countries: Australia, Canada, Ireland, New Zealand, UK, USA, and this applies to those graduated 5 (five) years ago or less.
Elena Kotyrlo 08.00.05 - Economics and management of the national economy (labour economics)An approximate topic that can be narrowed down later "Transformation of the Russian labour market in the pandemic"Already prior COVID-19, the labour market began to experience major transformations due to automation, technological change, globalization, public demand for the environment and demographic changes. The pandemic can accelerate these processes by changing the structure and the spatial distribution of jobs. Before the pandemic, large cities, as a rule, guaranteed greater returns on investment in human capital, and the disparity over regions was extreme. The new conditions can affect the reduction of regional inequality in wages. Studies show that workers with higher education are much better at adapting to distance work. Their employment-related losses are significantly lower compared to the losses of less skilled workers. The research question is how the pandemic has affected the structure of jobs, as well as inequality in wages in terms of education and other characteristics.Department of Applied Economics2
Henry Penikas08.00.13 - Mathematical and instrumental methods of economicsMathematical Models of the Banking Risk RegulationLaws sometimes have mathematical formulas. For instance, in cases of price regulation and anti-trust one. However, banking regulation may be deemed unique. It seems to be the only legal domain to use probability theory. Specifically, the banking regulation has particular model embedded. Model parameter values are also prescribed. Today the economic environment dynamically changes. Such model and parameter restrictions may tend to exacerbate the financial instability risks. As a result, the economic growth is at risk for particular countries and even regions. That is why we wish to in-depth study the existing banking prudential regulatory models. Having critically reviewed those, we define the application scope. Ultimately, we conclude whether the model and relevant regulatory framework is optimal. If it is not, we justify the necessary modifications. Thus, the research project targets obtaining implications for direct use by researchers, and moreover in the day-to-day activity of commercial banks and Central Banks. We expect that the project deliverables enhance the microprudential stability of a single bank and the macroprudential stability of the greater economic and financial systems.Department of Applied Economics5
Leonid Polishchuk08.00.01 - Economic theoryCollective Action Problem in the Russian Context The project will explore, conceptually and empirically, grassroots self-organization and collective action in today's Russia. Linkages and spillovers between different types and modes of collective action will be studied, as well as relations between self-organized groups and communities with government agencies. The project will reflect recent advances in institutional and political economy studies, and will make use of various data sources.The Center for Institutional Studies, NRU HSE1
Galina Besstremyannaya08.00.01 - Economic theory; 08.00.05 - Economy and management of the national economy (economy, organization and management of enterprises, industries and complexes (services, industry, labor economy);
08.00.10 - Finance, money circulation and credit;
08.00.13 - Mathematical and instrumental methods of economics;
08.00.14 - World Economy
Economic modelling of technological growth and development through innovation (1-3rd modules)The 32-hour (the three-module) course (Research project seminar “Economic modelling of technological growth and development through innovation”) is devoted to academic study of the contemporary approaches for the analysis of economic growth through innovation and technological change. It is targeted at covering the applied methods for macroeconomic and microeconomic analysis, which are often used for investigating the outcomes of investment decisions by technology firms and for evaluating the middle-run and long-run effects of the policy reforms, aimed at enhancing economic growth. A special emphasis is given to the evaluation of  growth of the technology economy in the US and Japan in recent decades, as well as to modern Russian strategy of innovation-based growth.

Using the framework of the research seminar, the course combines the following elements:
• explanations of theoretical and empirical material by instructor,
• individual and teamwork of students through participation in class discussions,
• student analysis of case studies and critical analysis of literature and modelling methodology,
• homework assignments targeted at the study of methodological papers, work with datasets and empirical estimations.

The course uniquely focuses on dynamic industrial organization in an economy with technological change. Specifically, it incorporates evidence on corporate innovations and merger policy into the concept of the technology economy. For this purpose, the course reviews the evidence on the economic outcomes of sequential innovations, which may be defined as technological advances of earlier successful accomplishments by a company. This policy may be evaluated against “open innovation” – collaboration with other companies or public institutions. In this regard, the course acknowledges the students with the recent instrument of using a number of patent statistics as proxies for technological performance of firms, as well as the quality of innovation.

Secondly, the course introduces the theoretical and applied techniques for the study  of the behavior of small and medium-sized enterprises and large corporations and for employing the data on their deals and patents. The use of financial data and patent statistics enables estimation of technological proximity between companies, which is essential for interpreting merger policy in a technology economy.

Finally, the course outlines major economic issues pertaining to incentivizing growth and fostering  structural changes of the economy. In particular, the course focuses on the current economic concerns of the developed countries: decreasing inequality across individuals and companies, developing the technology economy targeted at increase of both economic growth and consumer welfare, promoting energy efficiency and the use of environmentally friendly technologies. The course  draws upon the innovative experience of the US and Japan, and examines economic changes in the BRICS countries, with an emphasis on the technology and energy policy in Russia.
International Laboratory of Macroeconomic Analysis of the Faculty of Economic Sciences1
Galina Besstremyannaya08.00.05 - Economy and management of the national economy (economy, organization and management of enterprises, industries and complexes (services, industry, labor economy);Advanced econometric methods for health economics analysis

The project deals with the application of advanced econometrics methods for the analysis of various research topics in health economics of Russia and other countries. Specifically, we study innovations in production and healthcare financing; pricing, incentive contracts and other forms of regulation; various patterns in consumer demand for healthcare, drugs and health insurance.

The econometric specifications stem from the predictions of microeconomic models, such as: models for firm growth through innovation; models with human capital and investment in health; principal-agent models and government regulation of market failures; models on managerial innovations, pay-for-performance and other incentive contracts.

The emphasis of econometric analysis is given to differential patterns of producer and consumer behavior on healthcare markets. For instance, the project focuses on heterogeneity of technologies in healthcare production, on the impact of potential endogeneity of participation in healthcare reforms and of implementing healthcare innovations. The econometric methods include policy evaluation techniques (difference-in-difference, matching estimations), nonlinear and nonparametric models (kernel regressions, quantile regressions, frontier analysis), methods of classification (principal component analysis and finite mixture models).

The leader of the research project has extensive work experience in academic research and applied policy analysis of healthcare systems of various countries.

Selected publications, related to the research project.

International Laboratory of Macroeconomic Analysis of the Faculty of Economic Sciences 
Galina Besstremyannaya08.00.05 - Economy and management of the national economy (economy, organization and management of enterprises, industries and complexes (services, industry, labor economy);Econometric modeling (un)observable heterogeneity of economic agents

The project is targeted at the study of modern econometric methods for modelling observable and unobservable heterogeneity of various economic agents: individuals, households, firms, countries and regions. The methodology includes quantile regressions, dynamic panels, models with random parameters and models with a finite number of unobservable (latent) classes, parametric and nonparametric efficiency analysis, policy evaluation techniques. A special attention will be given to applications in the corporate finance, industrial organization and public economics.

The research seminar of the project will be devoted to the analysis of the methodology, employed in the scientific literature for the study of agents’ heterogeneity. One method of studying unobservable heterogeneity is the use of latent class approach in various regression models. Here, the researcher assumes that an observation belongs to one of the unobservable groups, which may be associated, for instance, with unverifiable behavioral characteristics of individuals or  managerial and corporate finance practices by firms. Another method of tackling observable and unobservable heterogeneity is the use of quantile regressions, in case of both cross-sectional and panel data models. Quantile regressions are particularly applicable in the analysis of production and cost function, in the efficiency analysis and in evaluation of endogenous and exogenous policy reforms.

The project will results in students’ writing of their term papers and diplomas. The contents of the project reflect several themes of research by the International Laboratory for Macroeconomic Analysis (the Faculty of Economics, NRU HSE, Moscow) and peer-reviewed publication by the project leader. Students might work as research assistants or as teaching assistants in related projects or in the BA course “Economic growth and development”. 

International Laboratory of Macroeconomic Analysis of the Faculty of Economic Sciences 
Vladimir Gimpelson08.00.05-Economy and Management of the national economy (labor economics)Human capital and the labor market
Topics may change, but the direction remains the same
A wide range of issues related to the functioning of labor markets is considered, including the formation and use of human capital, returns to education, experience and skills, structural changes in employment, unemployment, wages and related inequality, professional, cognitive and non-cognitive skills in the labor market, cross-country comparisons, and so on. The analysis involves the use of large databases and the use of modern econometrics.Center for labor studies3. The possibility of employment in the Center is not guaranteed, it will depend on the financial resources at the time of application and the level of preparedness of the graduate student.

Hartmut Friedrich Hans Lehmann

08.00.05 - Economy and management of the national economy (economy, organization and management of enterprises, industries and complexes labor economyThe themes from the field of labor economics, behavioral economics, applied microeconometrics  1

Andrei A. Yakovlev, Andrei V. Tkachenko

08.00.05 (08.00.01 – Theoretical economics; 08.00.05 – Economics and management of the national economy (by sectors and spheres of activity, including economics, organization and management of enterprises, branches, and complexes: industry, tertiary activities; labor economics); 08.00.10 – Finance, money circulation and credit; 08.00.12 – Accounting, statistics; 08.00.13 – Mathematical and instrumental methods for economic analysis; 08.00.14 – World economy)Analysis of Public Procurement Problems and EfficiencyThe project analyzes the problems, which participants of the public procurement faces, both in Russia and in other countries. It also studies methods of improving the efficiency of the procurement process.HSE Institute for Industrial and Market Studies, the Laboratory of Empirical Analysis of the Enterprises and Markets in Transition Economies 2. Hiring requirements:The graduate student should be familiar with fundamentals of econometrics and have data analysis skills. Admission to the project shall be based on the results of interview.

 

Andrei A. Yakovlev

 

08.00.01 – Theoretical economics; 08.00.05 – Economics and management of the national economy (by sectors and spheres of activity, including economics, organization and management of enterprises, branches, and complexes: industry, tertiary activities; labor economics); 08.00.10 – Finance, money circulation and credit; 08.00.13 – Mathematical and instrumental methods for economic analysisAnalysis of Russian Companies’ Effectiveness and Competitiveness FactorsThe project analyzes the factors of effectiveness and ways of improving competitiveness of Russian industrial companies in terms of internal processes and external relationsHSE Institute for Industrial and Market Studies, the Laboratory of Empirical Analysis of the Enterprises and Markets in Transition Economies1. Hiring requirements:The graduate student should be familiar with fundamentals of econometrics and have data analysis skills. Admission to the project shall be based on the results of interview.
Andrei A. Yakovlev08.00.01 – Theoretical economics; 08.00.05 – Economics and management of the national economy (by sectors and spheres of activity, including economics, organization and management of enterprises, branches, and complexes: industry, tertiary activities; labor economics); 08.00.10 – Finance, money circulation and credit; 08.00.13 – Mathematical and instrumental methods for economic analysisGood Governance, Institutions and Economic ShocksThe project analyzes good governance, formal institutions and culture, and their connection with economic shocks – both past and present onesHSE Institute for Industrial and Market Studies, International Center for the Study of Institutions and Development3. Hiring requirements: The graduate student should be familiar with fundamentals of econometrics and have applied data analysis skills. Admission to the project shall be based on the results of interview.
    Rastvortseva Svetlana08.00.14 - World economySpatial distribution of productive forces on the basis of technological connectivity of industries as a factor of innovative development of the regions of the European UnionThe aim of the project is to solve the scientific problem of optimizing the spatial distribution of productive forces on the basis of technological connectivity of industries as a factor of innovative development in the regions of the European Union in deteriorating conditionsWorld Econimy Department, faculty of World Economy and International Affairs2

    Victor A Lapshin

    08.00.10 – Finance, money circulation and credit;
    08.00.13 – Mathematical and instrumental methods for economic analysis
    Interest rate risks and the term structure of interest rates in developing marketsDevelopment and testing of models to solve typical problems of emerging markets: low liquidity, lack of tradable financial instruments, data gaps, possible unreliability of observed data... Models can be either mathematical (random processes, Bayesian analysis) or purely computer-based (machine learning)

    Financial Engineering & Risk Management Lab

    2-3

    Victor A Lapshin

    08.00.10 – Finance, money circulation and credit;
    08.00.13 – Mathematical and instrumental methods for economic analysis
    Validation and comparison of risk measures with limited data

    Developing and testing the approaches to compare risk assessment models (for market or credit risks)

    Financial Engineering & Risk Management Lab

     1

    Victor A Lapshin

    08.00.10 – Finance, money circulation and credit;
    08.00.13 – Mathematical and instrumental methods for economic analysis
    Market liquidity risks in developing markets

     

    Development and testing of models to estimate the fair value of bonds and other financial instruments, taking their liquidity into account. Development and testing of models for assessing market liquidity risk of these instrumentsFinancial Engineering & Risk Management Lab 1-2

    Victor A Lapshin

    08.00.10 – Finance, money circulation and credit;
    08.00.13 – Mathematical and instrumental methods for economic analysis
    Quantitative estimation of model risk in problems of financial risk assessmentA frequent situation in risk assessment - when the risk assessment is determined not so much by the observed data, as by the chosen model and its assumptions (for example, about the nature of probability distributions). The task is to develop and test an approach to quantitative assessment, to what extent the obtained risk assessment is caused by features of real data (useful information), and to what extent - by features of the chosen modelFinancial Engineering & Risk Management Lab 2-3

    Victor A Lapshin

    08.00.10 – Finance, money circulation and credit;
    08.00.13 – Mathematical and instrumental methods for economic analysis
    Credit risk estimation with machine learning methodsTraditionally machine learning is used in credit scoring, and simpler models are used in assessing the credit risk of corporate borrowers. We need to assess the potential applicability of more advanced models in view of the limitations and poor quality of the data on borrowers and their defaultsFinancial Engineering & Risk Management Lab 1-2

    1.     08.00.01 – Theoretical economics; 08.00.05 – Economics and management of the national economy (by sectors and spheres of activity, including economics, organization and management of enterprises, branches, and complexes: industry, tertiary activities; labor economics; 08.00.13 – Mathematical and instrumental methods for economic analysis)