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Regular version of the site


Oleg Zamulin


Vladimir Avtonomov
Academic Supervisor


Tatiana Kossova
First Deputy Dean


Elena Osipova
Deputy Dean


Daniel Karabekyan
Deputy Dean for Research 


Ludmila Zasimova
Deputy Dean for International Cooperation


Elena Burmistrova
Deputy Dean for Student Affairs




119049, Moscow, 26 Shabolovka St.
Building 3
Room 3305
Phone: (495) 628-83-68

Stability of Densities for Perturbed Diffusions and Markov Chains

Konakov V., Kozhina A., Menozzi S.

ESAIM: Probability and Statistics. 2017. Vol. 21. P. 88-112.

The Minkowski central partition as a pointer to a suitable distance exponent and consensus partitioning

Mirkin B. G., Amorim R., Makarenkov V. et al.

Pattern Recognition. 2017. Vol. 67. P. 62-72.

Criteria importance theory for multicriterial decision making problems with a hierarchical structure

Podinovskaya O. V., Vladislav V. Podinovski.

European Journal of Operational Research. 2017. Vol. 258. P. 983-992.

Habit formation in consumption: A meta-analysis

Havranek T., Rusnak M., Sokolova A.

European Economic Review. 2017. Vol. 95. No. June. P. 142-167.

2D:4D and lifetime educational outcomes: Evidence from the Russian RLMS survey

John V.C. Nye, Maksym Bryukhanov, Sergiy Polyachenko.

Personality and Individual Differences. 2017. Vol. 112, 1 July 2017. P. 62-66.

Tight Money and the Sustainability of Public Debt

Pekarski S. E.

International Journal of Central Banking. 2017. Vol. 13. No. 1. P. 191-223.

Does biological endowment matter for demand for financial services? Evidence from 2D:4D ratio in the Russian household survey

Semenova M., Andrievskaya I.

Personality and Individual Differences. 2017. Vol. 104. P. 155-165.

Agency Problem and Ownership Structure: Outside Blockholder As a Signal
In print

Stepanov S., Suvorov A.

Journal of Economic Behavior and Organization. 2017. No. 133. P. 87-107.

The effects of prenatal testosterone on wages: Evidence from Russia

Nye J. V., Bruhanov M., Kochergina E. V. et al.

Economics and Human Biology. 2017. Vol. 24. P. 43-60.

Values and Corruption: Do Postmaterialists Justify Bribery?

Kravtsova M., Oshchepkov A. Y., Welzel C.

Journal of Cross-Cultural Psychology. 2017. Vol. 48. No. 2. P. 225-242.

Research activity

Faculty of Economic Sciences includes a number of research teams; their achievements prove not only that they are leaders in Russian science, but also that they are making important contributions to the global scientific agenda. In particular, it is worth highlighting the political economics and institutional transformation research by K. Sonin and his co-authors, published in the Journal of Political Economy and Quarterly Journal of Economics; financial economics research by A. Bulatov, published in the Review of Economic Studies. These journals are in the economics and finance TOP 5.
The value of Faculty of Economic Sciences in the global market is emphasized by the availability of foreign scientists who permanently cooperate with the university: E. Maskin (Harvard, Nobel Prize in Economics, 2007), M. Janssen (University of Vienna), B. Taub (University of Glasgow) and others. It is worth noting that F.Aleskerov from HSE is the only Russian partner in COST Action IC1205 EU’s program, devoted to the computational social choice theory.
HSE’s internationally-recruited academic specialists and international laboratories play a critical role in the university’s research development. 

Faculty Laboratories and Centers
International Research Seminar Series
Student Research
International Recruitment and Job Market Seminars
Faculty of Economic Sciences Seminars

International Laboratory of Decision Choice and Analysis

Academic Supervisor: Professor Eric Maskin, Nobel Prize winner

The laboratory’s research areas include: economic mechanism design, models of choice for a large number of alternatives, power distribution in groups, application of game theory and social choice theory methods to the modelling of coalitional preferences, aggregation models on majority graph, criteria importance theory and the theory of additive utility functions, stability of optimal representation of objects and images, measures of informativeness defined by the set of attributes of non-deterministic systems, Intelligent data analysis, manipulation in social choice models, models of fair division, mathematical models of the organization of public-private partnerships and the study of their mathematical properties, analysis of the operating efficiency of commercial banks, automatic interpretation and classification of text documents, modelling of stock exchange processes, mathematical models of the high education system, and ranking scientific journals with respect to bibliometric indicators.

Professor Fuad Aleskerov
Head of laboratory



The International Laboratory of Decision Choice and Analysis focuses most of its research on the theory of individual, social and multi criterial choice, mathematical modelling and empirical analysis of decision-making in various economic and political institutions, game-theoretic models and methods in economics and political theory, and data analysis (methods of clustering, pattern recognition, etc.). We have close contacts with foreign universities. Students and postdocs from abroad come to our lab, and our senior members often give lectures at Western universities. Many well-known scientists come to our lab, work with our young colleagues, and give lectures. We are involved in the development of many applied projects, from retail networks to banking, from scheduling to public-private partnerships, and from networks to big data analysis. We will be happy to give our guest students the opportunity to participate our theoretical and/or applied projects.



Center for Institutional Studies

The Center for Institutional Studies (CInSt) goal is two-folded: to create a scientific center in the field of institutional economics as part of an international cooperation network and to promote international standards of research. We provide conditions and incentives for young and talented university graduates to participate in both scientific and teaching activities at HSE. Our professional interests are focused on institutional analysis of various markets and sectors of the economy. Among them are education, procurement, banking, and nonprofit organizations. The Center unites several laboratories:

International Research Laboratory for Institutional Analysis of Economic Reforms (LIA)
Head: Associate professor Maria Yudkevich
Academic supervisor: Professor John V.C. Nye

The International Research Laboratory for Institutional Analysis of Economic Reforms (LIA) brings together faculty, postgraduates and students from the departments of Economics, Sociology and Psychology; the lab’s professional interests are focused on the empirical institutional analysis of various markets and sectors of the economy. LIA members combine teaching with research. Its researchers engage both in their own research and LIA-wide projects, including economics of education, economics of public procurement, institutional analysis of banking.

Laboratory for Applied Analysis of Institutions and Social Capital 

Head: Professor Leonid Polishchuk

We are studying the interplay between formal and informal institutions, their roots, causes and impact for economic outcomes. Informal institutions comprise norms, values and other ingredients of culture. Of those, we are particularly interested in the capacity for collective action, known as social capital. We measure payoff to different stripes of social capital, including civic culture which ensures accountable governance and efficient delivery of social services. Stocks of social capital exhibit significant variations across countries, regions, cities and social groups and cohorts, and we seek to explain such variations and identify their historical roots. Our studies of formal institutions shed light on how such institutions affect resource allocation, and on causes of uneven institutional quality in various nations and subnational units. We are particularly interested in institutions in Russian regions, their measurement, typology, and driving forces. Our research projects deal with a broad range of issues, such as land ownership, corruption, political competition and property rights, impact of wars and economic and political reforms for norms and values, factors explaining visa regimes, etc. Our research and teaching activities are closely integrated, and we include our findings in the courses on Public Economics, Political Economy, Economics of Civil Society etc. offered to HSE students studying economics and related disciplines.

Laboratory of Stochastic Analysis and its Applications
Head: Professor Valentin Konakov
Academic Supervisor: Professor Enno Mammen

International Laboratory of Stochastic Analysis and Its Applications gathers together researchers from various countries (Germany, France, Russia, UK) and from different schools but linked by close research interests. The Laboratory was created on the basis of a long collaboration history (Konakov – Mammen, Konakov – Menozzi, Belomestny – Panov), and research interests of all members of the group are quite close to each other. The general aim is to improve theoretical background and to develop practical methods for different stochastic models, to combine and share knowledge and ideas of leading international researchers to advance in several directions of the modern stochastic analysis.

Corporate Finance Center
Head: Professor Irina V. Ivashkovskaya

Corporate Finance Center (CFC) is committed to promote high quality research on the application of financial theory and techniques to real world corporate financial policies, corporate performance and corporate governance studies. CFC aims to develop new knowledge in emerging markets and to provide a forum for discussing empirical corporate finance results. CFC publishes quarterly e-Journal of Corporate Finance Research.

Laboratory for Labour Market Studies
Head: Professor Sergey Roshchin

Laboratory research areas are: contract theory in labor economics, labor market and gender, top-managers’ labor market, labor market, human capital and demographic processes, Interaction between labor and education markets.

Laboratory for Comparative Analysis of Post-Socialist Development
Head: Professor Ovsey I. Shkaratan

The Laboratory for Comparative Analysis of Post-Socialist Development conducts fundamental and applied interdisciplinary research. The focus of the research is the interconnection of cultural-civilization types of societies in Europe and Asia and the level of development of national economics in post-socialist countries in the globalization context. Other field of our interest is civilization factors of possible directions of development of social relations in post-socialist countries. The laboratory publishes an independent scientific journal «Universe of Russia» about destiny and perspectives of Russia.

Laboratory of Macroeconomic Analysis

The Laboratory’s primary areas of interest: scholarly research through individual and collective projects in the field of general modern macroeconomics, macroeconomic theory and modern Russian politics; the development of computable general equilibrium models; the conduct of a series of theoretical and empirical research projects whose aim is to fill in the gaps in understanding of the macroeconomic theory of the modern Russian economy; the identification of inadequacies of Western macroeconomic theory in relation to the specific features of the Russian economy. Description of the properties of the macroeconomic dynamics of the Russian economy using stylized facts. Analysis of fiscal and monetary politics.

Financial Engineering and Risk Management Laboratory
Head: Professor Sergei Smirnov

The Financial Engineering & Risk Management Lab was opened for the purpose of conducting innovative research in the field of financial engineering, risk management and actuarial methods to address the needs of financial institutions such as banks, trust companies, insurance companies, and non-financial enterprises. The laboratory has the unique experience of developing and implementing mathematical models, analytical methods and business procedures in leading Russian financial companies. The successful implementation of applied projects by employees of the laboratory has allowed us to establish working relations with leading foreign and international organizations such as the Professional Risk Managers’ International Association (PRMIA), the European Federation of Financial Analysts Societies and European Bond Commission (EFFASEBC), and the China Government Securities Depository Trust & Clearing Company (CGSDTC).

Research & Training Laboratory of Financial Markets Analysis (LFMA HSE)
Head: Professor Tamara Teplova

The Laboratory was established with a view to promoting scientific and applied developments for the analysis of capital markets, derivatives, securities issuers, and financial intermediaries. The Lab’s main subjects of research include issues of conducting analysis of performance and government regulation of financial markets and their constituents (including regulators, financial intermediaries, securities issuers and individual securities that constitute the market). The Lab’s tasks lie in three fields: research, communication (network interaction), and education. The Laboratory is designed to provide HSE teaching staff and students with a qualitative incentive for joint research projects in the analysis of evolution and performance issues of financial integrated and segmented markets as well as for investigation into motivation, behavior, and strategy of investors and regulators.

Laboratory for Economic Research in the Public Sector
Head: Professor Marina Kolosnitsyna

The Laboratory for Economic Research in the Public Sector was set up in 2006. From the very beginning, it has brought together faculty, students and PhD students to work on research projects related to public policy evaluation in different areas: health and healthcare, lifestyle (alcohol, smoking, obesity, physical activity), and active aging.

Laboratory of Macro-Structural Modeling of Russian Economy
Head: Professor Gregory Kantorovich

The main research goal of the Laboratory is the quantitative modeling of both separate sectors of Russian economy and the Russian economy as a whole. Among models developed by the Lab’s researchers are the DSGE model of Russian economy, a model of Russian banking sector, a model of interregional migration in Russia, models of industrial unemployment, SFA models of influence investments on branch productivity. An important characteristic of all the Laboratory’s research is that it takes into account the heterogeneity of economic agents. Such modeling requires exploiting real statistics and contemporary econometric methods. New modifications of these methods are under development in the Laboratory.