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Regular version of the site

109028, Moscow
11 Pokrovsky Boulevard,
Room Т-614
Phone: (495) 628-83-68

Academic Supervisor Konstantin Sonin
First Deputy Dean Sergey Merzlyakov
Deputy Dean for Academic Work Elena Pokatovich
Deputy Dean for Research Daniel Karabekyan
Deputy Dean for International Affairs Ludmila S. Zasimova
Deputy Dean for Undergraduate Studies Elena Burmistrova
Factors determining Russia’s long-term growth rate

Dabrowski M.

Russian Journal of Economics. 2019. Vol. 5. No. 4. P. 328-353.

Book chapter
Fantasy football meets machine learning: the dynamic game case and a note on strategy

Stolyarov A., Vasiliev G.

In bk.: 12th International Symposium on Computer Science in Sport. Book of Abstracts. M.: Государственное казенное учреждение города Москвы "Центр спортивных инновационных технологий и подготовки сборных команд" Департамента физической культуры и спорта города Москвы, 2019. P. 128-129.

Working paper
Who Seeks State Support In The New Russia And Why?

Anikin V. A., Lezhnina Y. P., Mareeva S. et al.

Public and Social Policy. WP BRP Series. НИУ ВШЭ, 2019

FES International Research Seminar Series with Associate Professor Dennis Novy, University of Warwick, UK

*recommended age
Event ended

Our next speaker in the FES International Seminar Series is Dennis Novy who is an Associate Professor of Economics at the University of Warwick and a Research Fellow at the Centre for Economic Policy Research (CEPR). He is also an Associate at the Centre for Economic Performance (CEP) at the London School of Economics. He was appointed to the UK Council of Economic Advisers by the Chancellor of the Exchequer in 2018.

His main research interests are international trade, international economics and macroeconomics.


Speaker: Dennis Novy

Title: Vehicle Currency Pricing and Exchange Rate Pass-Through        

Abstract: Using detailed firm-level transactions data for UK imports, we find that invoicing in a vehicle currency is pervasive, with more than half of transactions in our sample invoiced in neither sterling nor the exporter’s currency. We then study the relationship between invoicing currency choices and the response of import prices to exchange rate changes. We find that for transactions invoiced in a vehicle currency, import prices are much more sensitive to changes in the vehicle currency than in the bilateral exchange rate. Pass-through therefore substantially increases once we account for vehicle currencies. Our results help to explain the higher-than-expected pass-through into import prices during the Great Recession and after the EU referendum. Finally, within a theoretical framework we conceptualize an omitted variable bias arising in estimating pass-through with only bilateral exchange rates under vehicle currency pricing. Overall, our results contribute to understanding the disconnect between exchange rates and prices.                                                                           

Date: December 9, 2019                                                                                                                                                                                                                                                                                                                     Time: 13:40-15:00                                                                                                                                                                                                                                                                                                                             Venue: Pokrovka campus, room  T510 (109028, Moscow,  Pokrovsky Boulevard 11)                                                                                                                                                                                                                                     Working language: English

For external participants:  to order the pass, please contact Disa Malbakhova dmalbakhova@hse.ru