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The NES 25th Anniversary Conference
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NES Basketball Challenge 2018 took place at ProTrener sports club on April 14. As usual, the game was played by streetball rules. 50 players from 13 teams were competing for the first place in the tournament. NES students, graduates and family members came to support their teams. This year the tournament gathered a lot of great rivals to the regular participants. It was an intense and a very dynamic game.


According to Research Papers in Economics (RePEc, March 2018), New Economic School took second place on the list of leading Economic institutions in Russian Federation.

Universities are being ranked by publications of their professors in the RePEc system. According to the ranking, professors of New Economic School hold leading positions.

NES announces the start of Ambassadors’ Forum – the series of meetings with ambassadors of various countries to Russia. The aim of this programme is to broaden students horizons and to help them to understand the modern system of international relations.
The first open seminar with the Ambassador Extraordinary and Plenipotentiary of the State of Israel Gary Koren will take place on April 16 at 7 pm. The topic of the seminar will be “Israel and Russia: Economy at Service of Diplomacy”. Register here.
Gary Koren, born in Riga, has been the Ambassador Extraordinary and Plenipotentiary to Russia since 2017. Previously he was the Ambassador of the State of Israel to the Czech Republic (2013-2016), Latvia and Lithuania (2003-2006), and held a number of other diplomatic positions. More information can be found here.  

Hong Kong MBA students visited Moscow following the invitation from the Skolkovo Education Hub

As a part of the student exchange program between the Skolkovo Education Hub and the Hong Kong University of Science and Technology (HKUST), MBA students from HKUST have come to Moscow. Within a week 25 students will visit the best Russian and International companies, as well as Skolkovo campus.

On the 5th of April students had a trip to Google that was organized by NES International Office.

Venisa Chu, the Head of the MBA program at HKUST, who have come to Russia for the first time, said that the trip to Google's Moscow Office was definitely something to remember. Google is the biggest technology company in the world and the number of staff in the Moscow office reaches 150. Google is also famous for its attentive attitude towards its employees. It can be seen by the way they organized their office, where employees can find everything they need for work and leisure.

During the trip, MBA students had many opportunities for discussion. Google employees explained, that they saw their role primarily in promoting the advertising business model of the technological giant, providing system support to perspective advertisers as well as working on identifying important market trends.

NES actively negotiates with HKUST directorship in order to expand cooperation with the Skolkovo Education Hub and create joint educational programs and student exchange programs.

The paper by Andrei Markevich and Ekaterina Zhuravskaya "The Economic Effects of the Abolition of Serfdom: Evidence from the Russian Empire" has been published by American Economic Review
On March 23, Paul Klemperer (Professor of Economics at Oxford University) gave a NES lecture “The Bank of England’s new Auctions” in the Bank of Russia. He described auctions, in which several types of products are allocated at the same time. These auctions were designed and successfully implemented by the Bank of England following Financial Crisis of 2007-2008 and then by other Central Banks to allocate funds backed by different types of collateral.

Professor Klemperer has written multiple influential papers and books and is famous for helping to design the ”biggest auction ever”, British 3G Telecom licences auction, which raised 2.5% of UK GNP in 2000.
The paper by Douglas Campbell "TAs like me: Racial interactions between graduate teaching assistants and undergraduates" joint with Lester Lushera and Scott Carrell has been published by Journal of Public Economics.
NES is delighted to announce that Gerhard Toews will join the New Economic School as an assistant professor of economics in September 2018. Gerhard is currently a postdoctoral researcher at the Oxford Centre for the Analysis of Resource Rich Economies (OxCarre),  University of Oxford. Gerhard Toews, born in Kazakhstan, defended his PhD in Oxford in 2014. His research interests include natural resources and energy economics, labor economics, international economics, political economy and economic growth.

More information:
Ekaterina  Zhuravskaya, a member of NES International Advisory Board, professor of Paris School of Economics has won the 2018 Birgit Grodal Award, awarded to european-based female economists. In 2010 The Council of the European Economic Association (EEA) agreed to institute a prize to a European-based female economist who has made a significant contribution to the Economics profession. The award is named after Birgit Grodal, who was the first female elected President of the EEA, but sadly passed away before she was due to take up her presidency. Since 2012, the Birgit Grodal Award is bestowed every even year and is sponsored by Danmarks Nationalbank.  Ekaterina Zhuravskaya is a leading scholar in empirical political economics, and she is a world leader in the important and growing area studying the economics of the media. Her influential contributions have shown that the media can have profound political effects in important contemporary and historical settings, both in democracies and in autocracies. She has also done outstanding work in economic development, which has enhanced our understanding of the economic and political challenges faced by middle income countries and transition economies. Finally, she has also made important contributions to building research capacity in Russia and in France. «I am delighted to congratulate Ekaterina Zhuravskaya, a member of the NES International Advisory Board with the Birgit Grodal Award which is so well deserved. It is an emotional moment for me, as, in addition to being a great economic theorist, Birgit Grodal was my co-author and a very close friend», said NES rector Shlomo Weber.  
On 18-20 March, NES rector Shlomo Weber during his trip to China visited the Hong Kong University of Science and Technology and the Chinese University of Hong Kong in Shenzhen.
On 19 March, Professor Weber delivered a lecture to the students at CUHK and met with an associate vice president for Global Affairs and professors of economics and finance. They considered the prospects for cooperation between the school and the university.
On 20 March, Professor Weber discussed with his colleagues from HKUST the prospects of business education in Russia and the international collaboration. Furthermore, he took part in the Moscow School of Management SKOLKOVO Academic Council meeting at the university.
A group of private investors in Silicon Valley invested in a Segah Meer (MAE’2012) technology company Caura & Co. In 2016 NES alumnus Segah Meer (MAE’2012) founded a technology company Caura & Co that automates temporary staffing and consulting services. The typical use is when а project manager needs a 3-month Amazon AWS contractor. He just needs to click chat on Caura's native app, and describe the project. No interviews. No searching. The consultant expert is automatically matched, virtually with a click of a button.
Caura & Co is part of an ever-expanding gig economy trend to disrupt how technology companies employ staff. Companies such as Accenture and BCG increasingly rely on external technical contractors. But a number of tech companies currently are betting that such services can be rendered directly, without the overhead of large firms.
Now the company aims to use its latest seed round to introduce natural language AI into its engagement process and further expand its ability to accommodate a larger number of clients using technology at the core of all communication.
Konstantin Egorov will join the New Economic School as a professor in September 2018. Konstantin Egorov is a NES alumnus (MAE’2012). In 2010 he graduated from the Ural State University. Now he is a Ph.D. candidate in the Department of Economics at the Pennsylvania State University. His research fields include international trade and international macroeconomics. Konstantin Egorov research papers are about monetary and fiscal policy, sovereign defaults, effects of trade on workers’ earnings and role of unemployment. More >>

NES is delighted to announce that Professor Darya Dzyabura will join the New Economic School in September 2018. Currently, she is an assistant professor of marketing at New York University Stern School of Business the position she held since 2012.
Darya received a B.S. degree in Mathematics and a Ph.D. in Marketing from the Massachusetts Institute of Technology. Her research interests include machine learning, consumer preference modeling and elicitation, recommendation systems. Her papers have been published in leading journals in the field of marketing, including Marketing Science, Management Science, and Journal of Marketing Research. More information:

NES and MSU students will represent Russia at the EMEA (Europe, Middle East, and Africa) Regional Final of the Challenge in Dublin next month. On March 1 NES and MSU teams received the highest grades and won the final of the local stage of the 2017-2018 CFA Institute Research Challenge. The NES team includes Anzhelika Borodina (MAF’2019), Nikita Ermakov (MAF’2019), Nikolay Kuznetsov (MAE’2019), Pavel Mhitaryan (MAF’2019), and Sergey Nikulin (MAE’2018). NES alumnus Marina Shestakova (MAE’2007) and Assistant Professor of Finance Olga Kuzmina are team’s advisors.
Thirty-one teams participated in the Challenge; six of them advanced to the Russian final. The finalists represented four Russian universities: the New Economic School, the Lomonosov Moscow State University, the National Research University Higher School of Economics, and the Financial University (two teams). The sixth team was from Baku.NES students advance to the Russian final of the Challenge every year. In 2010 NES students won the local competition and went to represent Russia at the EMEA level in Madrid.
The CFA Institute Research Challenge is an annual, global competition that provides university students with hands-on mentoring and intensive training in financial analysis. Each Research Challenge season leverages the efforts of more than 5,000 students from over 1,000 universities. Local competitions (organized by societies) lead up to regional finals; regional champions then convene for the global final.
The paper by Anna Obizhaeva "Smooth Trading with Overconfidence and Market Power" joint with Albert S. Kyle and Yajun Wang has been published by Review of Economic Studies.
The article by Stanislav Anatolyev, Renat Khabibullin and Artem Prokhorov "Estimating Asymmetric Dynamic Distributions in High Dimensions", was published in the book "Asymmetric Dependence in Finance: Diversification, Correlation and Portfolio Management in Market Downturns" by Wiley.
On February 8 NES rector Shlomo Weber attended a ceremony of the 100th anniversary of Ivane Javakhishvili Tbilisi State University (TSU) and delivered a speech there. TSU’s 100th Anniversary is being held in 2018 under the auspices of UNESCO. 
NES rector took part in the World Economic Forum

Russia’s international standing, its perspectives and the World Cup were among the topics of discussion at the World Economic Forum (WEF), which took place in Davos from 23 to 26 January. NES rector Shlomo Weber participated in the debates at Russia’s official residence - Russia House.

On January 24, experts discussed the 2018 FIFA World Cup in Russia at the panel session “It’s More Than Just Football: Realizing the Opportunities of World Cup 2018” (the full video here). Shlomo Weber indicated that the World Cup would have different economic impacts on different regions. “I’m not worried about Moscow, everything will be fine here. However, the World Cup matches will be played in 12 venues located in 11 cities, and the question is how this event would affect them all. The richer a region is, the easier it is to gain some economic benefits from such international events,” Professor Weber said. NES rector and other participants of the panel session pointed out that the World Cup has not always been economically successful: for example, large stadiums, which were built for the tournament in Greece and South Africa, were later deserted. Although Professor Weber highlighted, that infrastructure was only one of the three main economic impacts of the World Cup. The second one is its influence on football industry and economics. The third one is socioeconomic factor. People, especially young, will become interested in sports and in particular football. Professor Weber also presented the second international conference on the Economics of Football, which would be held in Moscow during the FIFA World Cup on July 9-11, 2018. On January 25, Professor Weber took part in the panel “Russia–USA Bilateral Relations One Year on” (the full video here). Professor Weber was cautiously optimistic at this session. “As a NES rector I can say, that number of exchange students is increasing. More US students are coming to Russia, and our students want to study in the USA,” Professor Weber said. He also pointed out, that Russia-USA relations were going through a difficult period, but both countries should develop cooperation, for example, in education and culture. The 48th World Economic Forum brought together over 3,000 participants from more than 110 countries. The theme of the Annual Meeting 2018 was Creating a Shared Future in a Fractured World.
The paper by Ruben Enikolopov, Maria Petrova and Konstantin Sonin "Social Media and Corruptionhas been published in American Economic Journal: Applied Economics
The paper by Evgeny Yakovlev "Demand for Alcohol Consumption in Russia and Its Implication for Mortality" has been published in American Economic Journal: Applied Economics
Due to regular rotation Professor of Economics Beth Allen (University of Minnesota) will step down from the International Advisory Board (IAB). Her place will take Professor of Economics Ekaterina Zhuravskaya (Paris School of Economics).
Ekaterina Zhuravskaya graduated from Harvard University in 1999 with PhD in Economics. She became the winner of the Young Economists Competition of the fifth Nobel Symposium in Economics "The Economics of Transition" in 1999 and was chosen a Global Leader for Tomorrow at the World Economic Forum in Davos in 2001. Ekaterina received the Best Economist Prize by the President of the Russian Academy of Sciences in 2002 and 2003, a Diploma of the Russia’s National Award for Work in Applied Economics in 2010 and in 2014, and became a recipient of the International W. Leontief Medal "For Contribution to Economic Reforms" in 2010. Ekaterina Zhuravskaya was also a winner of the ERC Consolidator grant, 2015.
She published her research in the American Economic Review, Quarterly Journal of Economics, American Economic Journal: Applied Economics, American Economic Journal: Economic Policy, Journal of Economic Literature, Journal of European Economic Association, Journal of Public Economics, Journal of Economic Perspectives, American Political Science Review, American Journal of Political Science, Journal of Law, Economics and Organization, Journal of Business, Journal of Comparative Economics, American Law and Economics Review, Economics of Transition.
Ekaterina is an associate editor of the Journal of Public Economics and the Journal of Comparative Economics.
We are very thankful to Beth Allen for her successful work in IAB. The International Advisory Board consists of the world’s leading economists. IAB provides guidance on academic matters, makes all major academic decisions, and oversees the academic activities at NES. It is also responsible, through an Academic Appointment Committee, for all academic appointments and promotions.
The paper by Stanislav Anatolyev and Grigory Kosenok "Sequential testing with uniformly distributed size" has been accepted for publication in Journal of Time Series Econometrics
The paper by Michele Valsecchi, Giacomo De Luca, Roland Hodler and Paul A. Raschky "Ethnic favoritism: An axiom of politics?” has been accepted for publication in Journal of Development Economics
On January 9, 2018 Maxim Bouev joined our team as a Vice-Rector for Strategic Development.

Maxim Bouev has Ph.D. in Economics from University of Oxford. In 2012-2017 he was the Dean of Economics at the European University in St. Petersburg (EUSP) and professor of applied finance.

Maxim Bouev has over 7 years of professional experience in the financial sector. In 2000 he worked as an M&A analyst at the European desk of the Investment Banking division for N.M.Rothschild & Sons. In 2005-2008 he  was an FX quantitative analyst for ABN AMRO Bank, and in 2008-2012 he served as a Vice President at the Royal Bank of Scotland in London, Great Britain.
On December 18-19 2017 leading experts from around the world came to discuss the international and political economy, industrial development, finance and other issues. In two days world-known scientists from the best universities in the world presented 62 papers.
On December 18, rector of NES Shlomo Weber opened the conference with his welcoming address and introduced the first keynote speaker – Professor of Economics Steven Durlauf (University of Chicago). He presented his research on Measuring Genetic Influences in Socioeconomic Outcomes. Afterwards, at the parallel sessions, such issues as the international trade, macroeconomics, finance, and healthcare were discussed. Experts also participated in the work of the following sessions: A Hundred Years of Russian Revolution: A Great Experiment of Socialist Transformation; A Hundred Years of Russian Revolution: Russian Industrial Firms Before and After 1917; Contract Theory; Development.
NES alumnus Anna Mikusheva (MIT) presented her paper "Weakly Identified Econometric Models Chair". Professor of Economics Gérard Roland (University of California, Berkeley) gave a lecture on the topic "Culture, Institutions and Democratization".
The first day of the conference concluded with a round table with participation of François Bourguignon (Paris School of Economics), Andreu Mas-Collel (Universitat Pompeu Fabra), and Shlomo Weber. Experts discussed such problems as diversity, income distribution and higher education in the European Union.
Professor Matthew Jackson (Stanford University) opened the second day of the conference with his keynote lecture on the topic "The Interaction Between Informal Networks and Formal Markets Chair". He talked about his research, conducted in isolated Indian villages, some mechanisms of information dissemination and its influence on economic decision-making. This day seven sessions took place on such issues as the organizational economics, political economy, corporate finance, economics of science, industrial organization, econometrics, and asset pricing.
The EBRD’s Chief Economist, former NES rector Sergei Guriev presented EBRD Transition Report "Sustaining growth". NES alumnus Ilya Strebulaev (Stanford University) talked about his research on financing innovation: how venture capitalists make decisions and choose firms for funding, what are the main features of VC industry.
The closing event of the conference was a round table "Challenges of the Strategic Development of the Russian Economy" (videos of the round table are available only in Russian) with Alexei Kudrin (Center for Strategic Research). NES professors presented their papers on prospects for economic development, based on their own work for the Center for Strategic Research. Natalya Volchkova talked about costs of exporting in Russia, Irina Denisova highlighted some challenges for Russian healthcare system, Evgeny Yakovlev shared some results of his research on alcohol policy and maternity fund, Oleg Shibanov pointed out some advantages of passive asset management, Anna Obizhaeva talked about economic approach to building financial infrastructure, NES rector Shlomo Weber emphasized how important it is to consider sociocultural factors in strategic development.
"I would like to thank the team of NES professors, they showed their professional approach to strategic research. I think we [Center for Strategic Research] will one after another publish these reports. We want them to go public and to generate discussion in society", said Alexei Kudrin in conclusion.
After the conference, Gala Celebration of the NES 25th Anniversary took place. More than 1000 guests attended this party: NES students and alumni, friends, employees, professors and donors. Among the guests were: Deputy Prime Minister of Russia, chairman of the Board of Directors of NES, NES graduate of 1994 Arkady Dvorkovich, Bank of Russia First Deputy Governor Ksenia Yudaeva, EBRD’s Chief Economist Sergei Guriev, Professor Emeritus of the Hebrew University of Jerusalem, one of the founders of NES Gur Ofer, Dean of the Economics Faculty of Lomonosov Moscow State University Alexander Auzan, Vice-President of Transneft Mikhail Margelov, President of the Moscow School of Management SKOLKOVO Andrei Sharonov, Rector of European University at St. Petersburg Nikolai Vakhtin, President of The Polytechnic Museum Boris Saltykov, Senior Partner, Chairman of the Board, Ward Howell Sergey Vorobiev, Chief Economist for Russia and CIS, BP plc. Vladimir Drebentsov.

Conference website

Program with links to papers

Presentations from round table "Challenges of the Strategic Development of the Russian Economy"

Photos of the Conference

Photos of 25th Anniversary event (part 1)

Photos of 25th Anniversary event (part 2)

Information Partners of the 25th Anniversary event:
General Partner: Newspaper Vedomosti
Information Partner: Russian News Agency TASS
The Conference is supported by: April Capital, Lukoil, Metalloinvest, Renova Group, Charitable Foundation SAFMAR, Sberbank of Russia, SUEK, Russian Agricultural Bank.
The paper by Grigory Kosenok and Maria Marta Ferreyra "Charter School Entry and School Choice: The Case of Washington, D.C." has been accepted for publication in Journal of Public Economics
New Economic School 25th Anniversary Conference in Economics and Finance. New Economic School is celebrating its 25th Anniversary. Today starts the key event  – the Academic Conference in Economics and Finance.

Leading experts from around the world came to the Conference to discuss the international and political economy, industrial development, finance and other issues. In two days world-known scientists from the best universities on the planet will present 62 reports.

Keynote speakers:
François Bourguignon, Paris School of Economics;
Steven Durlauf, University of Chicago;
Matthew Jackson, Stanford University;
Andreu Mas-Colell, Universitat Pompeu Fabra;
Gérard Roland, University of California, Berkeley.

"The Anniversary Conference is a unique opportunity to gather leading experts in economics and finance and discuss key questions of the world economy. Often such dialogues lead to useful decisions, and I will be very happy as NES once again becomes a venue that opens communication between scientists, experts and government", said professor Shlomo Weber, NES rector.

More about Conference >>>
The NES 25th Anniversary Conference Program >>>
Live stream >>>
New Economic School is celebrating its 25th Anniversary! For 25 years, NES has managed to create a unique international reputation as the strongest economic and financial institute.

"Since I received the NES diploma – and it was only two years after its foundation – I was a beholder of how the School grew and developed, how it became a leader in the field of economic and financial education, as more and more NES alumni achieved success and recognition. Today, when NES marks a quarter of a century, the School can boast of a number of outstanding achievements, but at the same time it is even more enthusiastic, more energetic and focused on the upcoming victories", said Arkady Dvorkovich, Deputy Chairman of the Government of the Russian Federation, Chairman of the Board of Directors of NES, NES alumnus.

The School was established on July 21 1992, and on September 1 first 52 students started to study at the program Master of Arts in Economics. In 2000 NES opens the Center for Economic and Financial Research (CEFIR). In 2004 NES published the first issue of NES Paper, and a year later issued NES Alumni Magazine. In 2007 NES started the Master's program Masters in Finance.

In 2011 the first group of students started studying at the HSE and NES joint program in Economics. Most students of this program are usually winners of National Olympiads in Economics. In the same year, with the financial support of the Dmitry Zimin Dynasty  Foundation, NES established the Center for Demographic Research (CDR). Two years later, the School got a grant for the Center for the Study of Social Diversity and Interaction (SCDSI). In 2015 begins the Master's program Economics of Energy and Natural Resources and the program Master of Science in Finance and a year later – the master's program Finance, investment, banks and the program Master of Science in Energy Economics.

Today more than 1600 students have graduated from the School. About 75% of graduates work in business, mainly in leading companies of the Russian and international financial and real sector; 20% of graduates chose an academic career at MIT, Stanford, Yale, Columbia, Penn State, NYU, LSE; 5% of graduates are working in the public sector.

The regular faculty of NES comprises more than 90% professors with PhD in economics and finance from the leading universities of the world, such as: Harvard, MIT, Columbia, NYU, LBS, Wisconsin-Madison, Northwestern University, and others.

"This year NES turns 25 years old. Today, a quarter of a century after its founding, NES is an distinguished economic and financial institution that holds leading positions in Russia and the world. I can say with confidence: we are leaders in our field. Our leadership is based on the unchanged quality of education, which, as I am convinced, will always be in demand. The uniqueness of NES is also in the fact that students and alumni of the School have formed a solid and reliable international community, and this is one of our main achievements", said Shlomo Weber, rector of NES.

Detailed information of the Anniversary events here:
On December 15 Professor Shlomo Weber and Professor Jean-Philippe Platteau opened the NES CSDSI international conference "Towards Effective and Equitable Development: the Role of Institutions and Diversity". François Bourguignon (Paris School of Economics), Jean-Paul Carvalho (University of California, Irvine), Steven Durlauf (University of Chicago), Ruben Enikolopov (Universitat Pompeu Fabra, New Economic School), Joan Esteban (Barcelona Graduate School of Economics), Andrei Markevich (New Economic School), Debraj Ray (New York University), Gérard Roland (University of California, Berkeley), Rajiv Sethi (Columbia University), Ekaterina Zhuravskaya (Paris School of Economics) are among the speakers and experts of the conference.

On December 12 the V NES CSDSI winter school “Towards Effective and Equitable Development: the Role of Institutions and Diversity” started at NES campus in Skolkovo. NES CSDSI Academic Head Professor Shlomo Weber opened the school with his lecture “Frontiers in economics of diversity”. During the classes NES CSDSI fellows introduce the participants with the current research of the center. The invited experts of the school are Professors Steven Durlauf (Chicago), Joan Esteban (CSIC and Barselona GSE), Theodore Gerber (Wisconsin–Madison), Karl Ove Moene (Oslo), Debraj Ray (New York).
According to the study "Social Navigator" MIA "Russia today" among universities of economic, financial and legal specialization New economic school (NES) became the most popular. NES gets first place in "Social Navigator" ranking for the third time.
New Economic School took third place in the top-10 Round University Ranking (RUR) of Russian universities of the Social Sciences. The RUR Subject Rankings evaluated performance of the leading higher education institutions in Russia in 6 broad subject areas: Humanities, Social Science, Biology, Medical Science, Nature Science, Technical Science. New Economic School took third place in the top-10 Russian universities in the Social Science.
All universities were evaluated by 20 parameters and grouped into 4 key areas: teaching quality (40% of grade), research quality (40% of grade), international diversity (10% of grade), financial sustainability (10% of grade). NES is ranked #91 by teaching in Social Sciences which propelled it to a nomination in Silver League. NES has participated in this ranking for the first time and got in top-100! RUR Rankings Agency was founded in 2013 and based in Moscow, Russian Federation. The Agency publishes world university ranking – Round University Ranking (RUR) rankings system and also offers consulting services for universities to strengthen their competitiveness in higher education sector.
On November 23-25 professors of the Department of Humanities and Languages took an active part in the 4th International Conference on ESP/EAP/EMI in the Context of Higher Education Internationalization. On the Pre-conference day Tatiana Skopintseva gave a talk “English Language Teaching in an EMI Context at NES: Solving an EMI Puzzle” at the annual working group meeting of the 5-100 project universities. Tatiana also chaired the «Going Global: Oral Fluency, Presentation Skills, Pronunciation” section. Ashley Squires chaired the “Academic Writing” section and took part as a discussant in the panel called “Innovating English Language Teaching: Choices to Be Made”. Other presentations and master classes are as follows: Matthew Overstreet: “Teaching Multimedia Composing in Power Point via a ‘Workshop Model’” (workshop) and “Writing Instruction in US English Departments: Some Basic Principles” (talk), Anna Volchanskaya: “Integrating Arts and Humanities Subjects into Language Training” (workshop), Ashley Squires: “Professionalization in the United States and in Russia: How Do We Learn from Our Histories?” (talk), Tatiana Skopintseva: “Teaching Public Speaking Skills to Russian Learners” (talk). Program >>>
On November 16 the New Economic School held an event «25 years: history of success» for School’s friends and partners. More than 100 guests visited the event.
Arkady Dvorkovich, Deputy Prime Minister of Russia, chairman of the Board of Directors of NES, NES graduate of 1994, and Shlomo Weber, NES rector, spoke at NES Celebration with welcome speech.
Special exhibition displayed objects and installations related to NES history, its successes and achievements. Also School’s friends and partners saw a movie «History of NES Success», made especially for NES 25 Anniversary. Arkady Dvorkovich and Shlomo Weber presented awards «the Guardian of NES» to all who supported School for a long time.  
On November 13, to mark the NES 25th Anniversary, the Department of Humanities and Languages held Day of English. Students of NES MA and BA and the Skolkovo International Gymnasium competed in a quest checking their knowledge of the English language and English-speaking cultures. The English faculty led 6 stations:
  • Asking for Cash Station, where students competed to write the best request for scholarship money to their dream university (Ashley Squires and Matthew Overstreet)
  • Business Negotiation Station, where teams had a chance to go head to head negotiating real-world case studies (Kevin Cancellaro)
  • Don’t get me wrong Station, at which teams had to solve pronunciation puzzles (Tatiana Skopintseva)
  •  Translation/Interpreting Station, where students tried their hand at translating and competed against other students for the title of best translator (Ekaterina Semyonova)
  •  Trivial Pursuit Station, where students tried to guess the topic with clues from cue cards (Alyona Ovchinnikova)
  •  Visual Riddle Station, where students competed to connect the meanings of obscure and interesting visual cues (Anna Volchanskaya)
The event ended with an award ceremony and a hilarious pizza party. The Department is very much grateful to the students who took part in the quest and the NES staff for their help and support.
On October 30 the Chairman of the Management Board of Morgan Stanley Bank Mikhail Soloviev  has given a lecture for students, graduates and friends of NES: «Investment banking challenges and work in this sector».

He described the main problems of the sector: difficulties with passive investments, accumulating funds in one hands, the absence of decision makers and unreliability of neural networks. Also Mikhail Soloviev doesn't advise to invest in Bitcoin because it isn’t reliable currency.

He has also told about hiring process at Morgan Stanley Bank in Russia. In one year the bank hires one-two employees from Russia to the Moscow office, and 10-11 people a year in Moscow and London banks for work on the Russian direction.

In 2007 NES, with the aid of Morgan Stanley, has started the «Master of Finance» program. More details are available here.
On October 25th, Artem Zheleznov, Head of Strategic Development at Moscow Exchange, has described the looming new opportunities and threats for financial market infrastructure and described the new trends in capital market development.  He also underscored the importance of financial startups and innovation in the sector. According to Artem, the key trends of fintech in capital market are: reduction of intermediaries’ role on capital market, work with big data, blockchain, development of products for retail investors, crowdfunding and financial startups growth. The Moscow Exchange has created LLC «MB Innovatsii» for work with startups. In the next four years the Exchange will invest up to 1,2 billion rubles in innovative projects. Public lecture was held under the auspices of NES’s 25th anniversary and «Masters in Finance» programme 10th anniversary.

Presentation «Fintech on capital Markets. MOEX Experience»

On October 30 NES CSDSI started the 3rd workshop "Imperfect Markets: Collusion, Networks, and Crowdfunding" for young scientists and students. During 4 days 15 researchers and experts will familiarize 35 participants with modern analysis methods and imperfect market theory applications including collusion issues, network analysis concepts and various aspects of crowdfunding interaction models. The workshop is funded by RSF Project No. 15-18-30081 (Sergei Izmalkov as a principal investigator). Program >>>

The paper by Olga Kuzmina and Olga Kuznetsova (BAE'2016) "Operational and Financial Hedging: Evidence from Export and Import Behaviorhas been accepted by Journal of Corporate Finance
The paper by Andrei Markevich and Ekaterina Zhuravskaya "The Economic Effects of the Abolition of Serfdom: Evidence from the Russian Empirehas been accepted by American Economic Review
In October 2017 Petr Aven has endorsed two professorship positions for NES professors for 2017-2018 academic year: Petr Aven assistant professor of Finance Olga Kuzmina (PhD, Columbia University, Graduate School of Business), and Alfa-Bank Banking Group assistant professor of Economics Maria Petrova (PhD, Harvard University). 
Petr Aven is the Chairman of the Board of Directors of Alfa-Bank Banking Group and the board member of the NES Board of Directors and NES Endowment Fund since 2012. 
In 2016 the management of Alfa-Bank has established Alfa-Bank Banking Group professorship for assistant professor of Economics Maria Petrova, and Petr Aven professorship for associate professor of Finance Ruben Enikolopov (PhD, Harvard University), for 2016-2017 academic year.  
“I support NES as I believe that it is impossible to build an efficient economy is a state with no or very few qualified economists.” – said Petr Aven. 
NES accepts the support with deep gratitude and expresses its sincere appreciation to Mr. Aven personally and to the Alfa Bank.  
NES has three Thomson Reuters terminals Thomson Reuters database became available to NES’s students and professors In September NES signed an agreement with Thomson Reuters for access to data terminals. Thomson Reuters is a leading provider of analytical information around the world. The system has lots of economic and finance data. Three terminals set in a School’s computer class. 
Irina Denisova Is a Winner of the ARETT Medal

On October 6, NES Professor Irina Denisova got the ARETT (Association of Russian Economic Think Tanks) Medal “In Recognition of Research in Economic Analysis.”

ARETT Medal is awarded to leading Russian economists for the outstanding individual contribution to the development of economic analysis in Russia. In 2016, one of the experts who was awarded this medal was NES Professor Natalya Volchkova.

Congratulations to professor Denisova! >>>

New Economic School Congratulates All With the Start of the New Academic Year!

And so the 2017–2018 Academic Year began! We congratulate all students and professors!

On September 1, 2017, Mr. Arkady Dvorkovich, Deputy Prime Minister of the Russian Federation, Chairman of the Board of Directors of NES, visited the School. He greeted our freshmen on the beginning of the academic year and wished them excellent grades and interesting studies.

Professor Shlomo Weber, NES Rector, also addressed the students, and Zarema Kasabieva, Vice-Rector for Educational and Students Affairs, spoke about NES, its history and achievements.

The new academic year at NES kicked-off with the orientation for the first-year students. >>>

NES-HCEO Summer School on Socioeconomic Inequality

On August 28–September 1, Center for the Study of Diversity and Social Interactions at New Economic School (NES CSDSI) and the Human Capital and Economic Opportunity Global Working Group (HCEO) at the University of Chicago jointly organized the NES-HCEO Summer School on Socioeconomic Inequality (SSSI Moscow) which took place at NES.

34 participants from 25 universities and 13 countries studied the current research on inequality and program evaluation and presented their own research. The experts of the school were professors Lawrence Blume (Cornell University and IHS Vienna), Steven Durlauf (University of Chicago), Ruben Enikolopov (NES and Pompeu Fabra University), Jeffrey Smith (University of Michigan), Petra Todd (University of Pennsylvania), and Shlomo Weber, NES Rector. >>>

NES-HCEO Summer School’s page (description, program, and slides) >>>
3 Questions with Shlomo Weber on the HCEO website >>>

New Book by Ashley Squires

This book describes the presence of Christian Science in American literature at the turn of the 20th century

On August 7, Ashley Squires’s book, Healing the Nation: Literature, Progress, and Christian Science, was released by Indiana University Press. Squires is an assistant professor at the Department of Humanities and Languages and Director of the Writing and Communication Center at NES. Congratulations to the author!

Exploring the surprising presence of Christian Science—a Protestant religious denomination—in American literature at the turn of the 20th century, Ashley Squires reveals the rich and complex connections between religion and literature in American culture. Mary Baker Eddy’s Church of Christ, Scientist, founded in the middle of the 19th century, was one of the fastest growing and most controversial religious movements in the United States, and it is no accident that its influence touched the lives and work of many American writers, including Frances Hodgson Burnett, Theodore Dreiser, and Mark Twain.

In a moment when the struggle between religion and science framed debates about how the United States was to become a modern nation, the Christian Science movement contributed to popular narratives about how to heal the nation and advance the cause of human progress, Squires concludes. >>>

Ashley Squires’s book on Amazon >>>

The paper by Denis Davydov, Alexander Shapoval, and Shlomo Weber "Linguistic equilibrium with local and world languages: challenges of globalization" has been accepted for publication in The World Economy
BankEx Fin-Tech Startup Announces Pre-ICO Result of 1.5 Million USD

BankEx was founded in 2016 as an independent fin-tech laboratory by Igor Khmel (MAE’2006)

August 1. BankEx, a fin-tech startup offering blockchain-based financial products and fund-raising solutions, has raised the equivalent of 1.5 million USD in token private placement. BankEx was founded in 2016 as an independent fin-tech laboratory by Igor Khmel, a former head of the fin-tech laboratory at Sberbank, graduate of the Moscow Institute of Physics and Technology, New Economic School (MAE’2006), and Stanford Business School.

During a pre-sale via the Waves and Ethereum platforms, 6m PBKX tokens worth 1.5m USD (at the exchange rate registered on August 1, 2017) were sold. 90% of the tokens were sold in private placement with entry barrier set at 10 BTC. At the ICO start, all current PBKX tokens held by buyers will be converted into public BKX tokens at an exchange rate of 1:1.

Professional financial market and crypto industry participants were the main buyers, among which were Asian and European crypto tycoons (Japan, the Netherlands) and several Russian crypto funds.

In total, BankEx has received 70 pre-ICO inquiries from 70 buyers from 12 countries, including Canada, Japan, Australia, France, Austria, Switzerland, the Netherlands, Norway, Croatia, Romania, Russia, and Latvia.

According to BankEx founder and CEO Igor Khmel, the first BankEx Foundation ICO issue is planned in autumn 2017. During ICO, 100-150m BankEx tokens worth no less than $20-50m will be sold, mainly to institutional clients. BankEx has already received hard commitments on ICO participation from accredited investors in New York and Palo Alto, including family offices of major New York financiers. In the United States, BankEx tokens will have the status of securities and will be distributed among professional market participants only.

About BankEx

BankEx develops a proof-of-asset protocol for real, financial and crypto assets on blockchain-based infrastructure. The system will function based on the so-called smart assets (internal tokens), which will be issued so that authorized participants can digitalize their assets and raise funds using the benefits of the global market. >>>

NES 25 Family Boat Trip & Fun

On July 29, NES 25 Family Boat Trip & Fun event—boat trip for NES community members—took place. Professors, staff, students, alumni, NES friends, and the families of NES people—all were guests aboard the Port Arthur river cruise ship.

At the beginning of the trip, Zarema Kasabieva, Vice-Rector for Educational and Students Affairs, said that such journeys were the NES’s old tradition.

This trip was full of different funny activities, many of which were dedicated to the NES’s 25th anniversary. It was a genuine NES holiday! >>>

Ruben Enikolopov Will Become Rector of the New Economic School on September 1, 2018

Professor Shlomo Weber will serve in the position of NES rector until September 1, 2018

NES professor Ruben S. Enikolopov will be appointed rector of the New Economic School on September 1, 2018. This comes as a decision by the School’s Board of Directors, which met for the 59th time on July 12, 2017. In addition, professor Enikolopov will join NES Board of Directors effective immediately.

Meanwhile, professor Shlomo Weber will remain in the position of NES rector until September 1, 2018. NES board has decided further that on September 1, 2018, professor Weber will assume the post of the President of the NES. At the same time, academician of the Russian Academy of Sciences Valery Makarov, currently the President of NES, will become the President Emeritus of NES from September 1, 2018.

On behalf of the whole NES community, we congratulate professor Ruben Enikolopov, as well as professor Shlomo Weber and academician Valery Makarov on their appointments!

Ruben Enikolopov, NES graduate of 2002 (MAE’2002), also holds a PhD in Economics from Harvard University and MSc in Physics from Moscow State University. He is an ICREA research professor at the Universitat Pompeu Fabra, Barcelona, and the Peter Aven associate professor of finance at NES. He was a member of the Institute for Advanced Study in Princeton in 2012-2013. His research interests include political economy, economics of mass media, and development economics. He has published in American Economic Review, Quarterly Journal of Economics, Review of Economic Studies, Proceedings of National Academy of Science, American Political Science Review, American Economic Journal: Applied Economics, and Journal of Public Economics.

Said Arkady Dvorkovich, Deputy Prime Minister of the Russian Federation and Chairman of the Board of Directors at NES: “We are very pleased to welcome Ruben Enikolopov, a graduate of NES, and are confident that his solid academic experience will ensure continuity of the School’s strategy for development and the steady expansion of educational programs. The decision, based on the recommendations of the search committee presented to us, underscores our commitment to strengthening the role of graduates in the School management and strengthening the management team.”

Mr. Dvorkovich sincerely thanked professor Weber for his energy and organizational skills, which he used to guide the School at through sometimes difficult times for it, and expressed gratitude for agreeing to become president of NES for continuing work for the benefit of the School. Mr. Dvorkovich also sincerely thanked academician Makarov, who was at the core of NES formation, for his colossal work on the creation of the School and its transformation into the leading economic university of the Russian Federation, and wished Valery Leonidovich further success in his selfless and fruitful work in the field of science, public education, and enlightenment.

New Economic School (NES) is a unique higher education and research institute established in 1992.
The mission of the New Economic School – modern economic education and research for the Russian society, business, and government.
The quality of education at NES relies mainly on a strong faculty of Russian and foreign professors with PhD in economics and finance from the world’s leading universities, and a strong body of students. NES degree is highly regarded in Russia and abroad. NES graduates build careers in prestigious international and Russian companies; continue their studies towards PhD or MBA degrees at leading universities around the world.
The main scope of NES activities is: education, research, corporate training, development of economic education in Russia and the CIS countries. >>>

NES Commencement 2017 Took Place at the Moscow International Performing Arts Center

102 NES graduates received diplomas!

On July 7, New Economic School held its 24th Commencement Ceremony in the Chamber Hall of the Moscow International Performing Arts Center.

By tradition, the event was led by Zarema Kasabieva, NES Vice-Rector for Educational and Students Affairs. Professor Shlomo Weber, NES Rector, greeted the School graduates and guests of the event.

The annual Yegor Gaidar honorary lecture on economic policy is traditionally part of the NES Commencement. The eighth lecture held this year, on “How Economic Science Helps Central Banks Make Decisions,” was delivered by Elvira Nabiullina, the Governor of the Central Bank of the Russian Federation.

Ms. Nabiullina also delivered a warm congratulatory message to the graduates of 2017.

On the 25th year since NES was established, 102 graduates received diplomas from NES: 47 Bachelors of Arts in Economics, 31 Masters of Arts in Economics, eight Masters of Arts in Energy Economics, one Master of Science in Energy Economics, 11 Masters of Science in Finance, and four graduates with a Masters of Finance degree.

The best NES graduates of 2017 were also celebrated: the 34th nominee of the Don Patinkin Award— the highest academic honor for excellence in study, teaching, and research—is Alexey Filippov (MAE’2017), and the honorary diploma Bachelor of Excellence went to Roman Sigalov (BAE’2017), who has already been enrolled in PhD at Harvard University. >>>

Full report (in Russian) >>>
Photos >>>
Video >>>

NES’s Commencement on Its 25th Year Is Marked by a Keynote by Elvira Nabiullina

The head of the Central Bank of Russia said that NES is a natural partner for the regulator

On Friday, July 7, the Commencement Ceremony for the graduates of the New Economic School was marked with a keynote presentation and a sendoff by the Governor of the Central Bank of Russia Elvira Nabiullina.

From the podium of the Moscow International Performing Arts Center, where the ceremony was held, the head of the Central Bank said that her agency is a natural partner of the School.

“This year, when NES celebrates its 25th anniversary, it is a great honor for us to host the head of the country’s central financial regulator,” said NES Rector Professor Shlomo Weber. “As we are already closely cooperating with the Central Bank—and, of course, we will develop this cooperation in the future. The Central Bank should remain one of our important partners.” Professor Weber also stressed that “NES students are very highly rated among employers around the world, and it’s only logical if more of our talents contribute at the key government structure responsible for economic development—at the Central Bank of Russia.” >>>

The paper by Stanislav Anatolyev and Nikolay Gospodinov "Multivariate Return Decomposition: Theory and Implications" has been accepted by Econometric Reviews
The paper by Mikhail Drugov and Dmitry Ryvkin "Biased Contests for Symmetric Players" is published in May issue of Games and Economic Behavior in the John Nash Memorial Special Issue
On June 26, 2017 the 2nd NES - Yegor Gaidar Foundation summer school on modern microeconomics started in the Moscow area. During 2 weeks the young faculty from regional universities learns classical and new models of industrial economics. NES Professor Mikhail Drugov gives lectures and also consults the participants on prepared syllabi.
The paper by Gunes Gokmen "Clash of civilizations and the impact of cultural differences on trade" is published in July issue of Journal of Development Economics.
On June 1-2, 2017, NES has hosted Oligo 2017 workshop devoted to optimal firm behavior and game-theoretic modeling of competition. It was a substantial international academic conference, where 25 papers were presented, with each followed by a moderated discussion and a Q&A. Most papers were centered on the issue of imperfect competition on the markets. Yet, there was a significant variety of related topics: from theoretical game theory (continuous time fictitious play and existence of equilibrium with discontinuous payoffs), experiments (showing that people fail to process implications of correlated information), and practical implications of sharing shipping agreements. Prof. Jacques Thisse delivered an illuminating lecture on the history and future of monopolistic competition models. NES CSDSI Managing Director Professor Sergei Izmalkov and research fellow Dr. Alexander Shapoval presented their research.
Academician Makarov Turns 80

Today, May 25th, marks the 80th birthday of one of the founders of the New Economic School and its President – Academician Valery Leonidovich MAKAROV!

The jubilee of our esteemed scientist Valery Makarov coincided with the anniversary of the School, which celebrates its 25th birthday this year.

The glorious path that NES has taken in a quarter of a century, its solid role in the formation of modern economic education in Russia, our successful graduates actively developing economics and industry around the world – these achievements would have never come about without the effort, noble dedication and truly amazing wisdom of our dear Academician Makarov.

NES community sends our best wishes to our dear colleague and friend! >>>

NES Launched a Corporate Training Program for Central Bank

May, 15. NES launched a corporate training program for Central Bank. The program, which focuses on macroeconomics, will run for 8 months and train about 80 people. NES custom-tailored this corporate training to Bank’s strategic priorities and needs, and designed it in close coordination with Bank’s senior management. Advanced analysis techniques for international trade, world’s financial system and currency regimes, as well as correlations between risks and trends are just some of the components at the core of the program. NES team that developed the course includes professors Oleg Shibanov, Konstantin Styrin, Valery Charnavoki and Sergey Golovan. >>>
NES Professors Presented at the Joint Annual Skolteсh / MIT Conference

On April 25-26, NES Rector Shlomo Weber, as well as professors Anna Obizhaeva and Sergei Izmalkov delivered presentations at the joint annual Skolteсh / MIT conference called "Shaping the Future: Big Data, Biomedicine and Frontier Technologies," and professor Oleg Shibanov moderated a session on Big Data.

Among other speakers of note were Deputy Prime Minister of the Russian Federation Arkady Dvorkovich, co-founder and senior partner of the architectural bureau Herzog & de Meuron Pierre de Meuron, Skoltech professor Vladimir Zelman, President of the Moscow School of Management SKOLKOVO Andrei Sharonov, Adviser to the President of the Skolkovo Foundation Pekka Viljakainen, and many others. >>>

Sessions on Big Data (VIDEO) >>>

NES Rector Shlomo Weber joined the Academic Council of the SKOLKOVO Business School
April, 4. Professor Shlomo Weber, NES rector, joined the Academic Council of the Moscow School of Management SKOLKOVO, which is its highest body of academic collegiate management. Currently, the chairman of the board is Professor Stephen DeKrey, Senior Vice Dean and Director of Master's programs at the School of Business and Management of the Hong Kong University of Science and Technology (HKUST).
The NES community congratulates Professor Weber and hopes that this appointment will further strengthen the synergies and cooperation between NES and the SKOLKOVO business school!
The paper by Stanislav Anatolyev "Foreign Exchange Predictability and Carry Trade: A Decomposition Approach",  joint with  Nikolay Gospodinov, Ibrahim Jamali and Xiaochun Liu, has been accepted by Journal of Empirical Finance.
A paper by NES Associate Professor Patrick J. KellyMacroeconomic Expectations and the Size, Value, and Momentum Factors” with Mikael C. Bergbrant, published in the Winter 2016 issue of Financial Management has received an important acknowledgement as the “Best paper in the Winter 2016 issue of Financial Management”.
NES is delighted to announce that Mr. Michele Valsecchi (PhD, University of Gothenburg) has accepted our offer to join our professor’s team. He will come aboard by the next September. 
Michele's web page >>>
Michele's CV >>>
The paper by Shlomo Weber "Immigration policies, labor complementarities, population size and cultural frictions: Theory and evidence", joint with Thomas Osang, has been published in International Journal of Economic Theory
The paper by Marta Troya Martinez "Self-Enforcing Trade Credit" has been accepted by International Journal of Industrial Organization
The paper by Shlomo Weber "Peripheral diversity: transfers versus public goods", joint with Klaus Desmet и Ignacio Ortuno-Ortin, has been accepted by Social Choice and Welfare
According to the recently published results of the Research Papers in Economics (RePec) rating, NES rector Professor Shlomo Weber is one of the three leading economists in Russia in Top 25% authors in Russia. NES congratulates our rector and wishes him further success in his academic career!
New economic school was ranked among the top 200 best universities in the world and among the top 3 best Russian universities in the category "Economics and Econometrics” according to the QS World University Rankings by Subject-2017. NES took part in the rankings for the first time, the results were published on March 8.
NES professor, Hosny Zoabi, PhD, Hebrew University, has been appointed an associate editor at "Macroeconomic Dynamics” - a landmark magazine in the field, a Cambridge University Press journal.

Skoltech, Moscow School of Management SKOLKOVO and NES launch Skolkovo Education Hub

From left to right: Alexander Kuleshov, Skoltech president, Arkady Dvorkovich, Deputy Prime Minister of Russian Federation, Shlomo Weber, Rector of NES, Andrei Sharonov, President of SKOLKOVO Moscow School of Management. Photo: Denis Klimentov, NES

On February 27, 2017, on the sidelines of the Russian Investment Forum in Sochi, Skolkovo Institute of Science and Technology (Skoltech), Moscow School of Management SKOLKOVO and the New Economic School (NES) announced an official beginning of their cooperation. President of Skoltech, RAS Academician Dr. Alexander Kuleshov, President of the Moscow School of Management SKOLKOVO Andrei Sharonov and Rector of NES Shlomo Weber signed an agreement on the establishment of the Skolkovo Education Hub. Russian Deputy Prime Minister Arkady Dvorkovich was in attendance.


NES is delighted to announce that Mr. Pavle Radicevic (PhD, University of New South Wales, Sydney) has accepted our offer to join our professor’s team. He will come aboard by the next September. 
Pavle's web page at the UNSW web site  >>>
Pavle's CV >>>
The paper by Anna Obizhaeva "Smooth Trading with Overconfidence and Market Power" joint with Albert S. Kyle and Yajun Wang has been accepted by Review of Economic Studies
The paper by Ruben Enikolopov "Social Media and Corruption" joint with Maria Petrova and Konstantin Sonin has been accepted by American Economic Journals: Applied Economics
The paper by Shlomo Weber "Ranking Languages in the European Union: Before and After Brexit" joint with Victor Ginsburgh and Juan Moreno-Ternero has been accepted by European Economic Review
The paper by Evgeny Yakovlev (МАЕ'2001) "Identification, Data Combination and the Risk of Disclosure" joint with D.Nekipelov (МАЕ'2003) and T.Komarova (МАЕ'2003), has been accepted by Quantitative Economics
The paper by Gunes Gokmen "Clash of Civilizations and the Impact of Cultural Differences on Trade" has been accepted by Journal of Development Economics
On January 12, 2017 NES professor Oleg Shibanov presented on the first day of the prestigious Gaidar Forum "Russia and the World: the Choice of Priorities,” which is taking place in Moscow, in the expert round table "Qualitative Changes of Financial Institutions in Russia for 25 years.”
In his presentation NES professor Shibanov addressed the issue of "bad assets" in Russian banks’ portfolios. He reminded that Central Bank revoked 300 licenses since 2013, which is exactly one-third of Russia's banking system. According to him, the central issue is not whether it may seem as “a lot” or “a little,” rather to what extent exactly has the banking system cleared itself off the banks, attributing said “bad assets” on their balance sheets as performing.  According to some estimates, "holes” in balance sheets may potentially be discovered in the remaining half of the operating banks. Nevertheless, Oleg praised the Central Bank's work during the recent turbulent weather in the nation’s economy at large as “efficient,” and which “contributed” to the preservation of macroeconomic stability and kept the inflation at low levels.
Source: >>>
On January 13, NES Professor Andrei Markevich took part in panel discussion "1917-2017 years: History Lessons of the Past Century.”  Panelists discussed a wide range of issues related to both the prerequisites of the revolution of 1917 and its consequences and their impact on modern society.
Source: >>>
NES professor Natalia Volchkova presented at the panel discussion "Trade and Economic Strategy of Russia's Development and EAEC in Modern Conditions” on January 14. Speaking about the problems hindering the development of the EAEC, professor at the New Economic School, Director of Applied Research Centre for Economic and Financial Research Natalia Volchkova noted several issues in the export-import strategy of the Union members. First, low export diversification. Second, the EAEC member states create a very low added value. This, in particular, is reflected in the fact that the share of imports in the production of export products is very low. In Russia, for example, - 9.36 percent. Source: >>>  Presentation: >>>

    Rector of the New Economic School Shlomo Weber, guided by the recommendation from the Promotion Committee and confirmation by the NES International Advisory Board has approved two major academic and professional advancements for two professors of the School. As such, Mikhail Drugov has been granted tenure, and Andrei Markevich received tenure and promoted to a full professor.
Doug Campbell contributed a blog post on a class replication project conducted at NES to The Replication Network, run by a group of scholars looking to encourage replication in academic economics. Doug and his coauthors have recently hired four Research Assistants at NES to participate in a replication and robustness project, and they have funding to hire more. Inquire if interested.

The Third Russian Economic Congress, was held at the Economics Department of Moscow State University named after Lomonosov on December 19-23, 2016. Rector of NES Shlomo Weber presented "Diversity indices" at a special session devoted to research at NES, and CSDSI researchers Denis Davydov and Alexander Shapoval presented on "Identification Data on the Regional Distribution of Languages in China," Alexander Shapoval delivered a report "Perturbation of the Distribution of Entrepreneurial Abilities Under Migration and Employment Structure” and Konstantin Sorokin brought a presentation on "The Role of Information in the Escalation of Conflicts.”
Professor Shlomo Weber also coordinated Conference 5 "Interdisciplinary Studies in Economics (Statistics, Sociology, Political Science, Psychology, etc.).” NES professor Natalia Volchkova took part in the round table "Preparing a New Generation of Economists and Researchers: What to Do, How and for Whom," Professor Yeugeny Yakovlev made a presentation "The Causal Effect of Serving in the Army on Health. Evidence from Gorbachev Demilitarization Reform. “ Professor Valery Chernooky presented on "International Risk Sharing and Optimal Monetary Policy in a Low Raw-material Economy" and Professor Irina Denisova reported on "The Labor Market Retirement in Russia: Individual Trajectories.” Congress program >>>
The paper by Evgeny Yakovlev "Demand for Alcohol Consumption in Russia and Its Implication for Mortalityhas been published in the American Economic Journal: Applied Economics.
The paper by Shlomo Weber, P.C. Dower and V. Ginsburgh "Colonial Legacy, Polarization and Linguistic Disenfranchisement: The Case of the Sri Lankan War" has been accepted by Journal of Development Economics

Renova Group of companies renewed its support for NES and established a professorship

In November 2016 Renova Group of companies decided to resume its financial support for NES and established professorship for Grigory V. Kosenok, PhD, professor of economics for the 2016-2017 academic year.
NES and Renova Group of companies have a solid and beneficial relationship. In 2008-2012 Renova played a significant role in establishing and supporting the NES endowment. In addition, Mr. Vladimir P. Kraemer, the managing director of Renova is a member of the Board of Trustees of NES endowment.
New Economic School wishes to extend its deepest gratitude to Renova Group of companies, and, personally, to Viktor Vekselberg for their generous support.
Renova Group of companies is a leading international private business group, consisting of management, funds and assets management companies, direct and portfolio investments in the metallurgical, mining, chemical, construction industries, transport, energy, telecommunications, high-tech engineering, utilities, medicine and the financial sector in Russia and abroad (CIS countries, Switzerland, Italy, South Africa and the United States).
December 8, 2016 - Zarema Kasabieva, vice-rector of NES delivered a presentation titled "Friendrasing" - cultivating "friends for life” at the Fifth International Forum "Corporate Volunteering: Business and Society” which took place in Moscow.
The paper by Galina Besstremyannaya (Lead research fellow, CEFIR at NES) "Differential effects of declining rates in a per diem payment system" has been published in Health Economics
The paper by Patrick Kelly and Mikael C. Bergbrant  "Macroeconomic Expectations and the Size, Value, and Momentum Factors" has been published in the Financial Management

Major Grant to NES from NOVATEC

In November 2016, NOVATEK’s management announced it’s decision to award NES with charitable grant in the 2016-2017 academic year in three areas:
1. Support and development of the program "Economics of Energy and Natural Resources" (Masters of Arts in Energy Economics, the abbreviated name: MAEE)
2. Student scholarships for 10 students of the program "Energy Economics.”
3. NOVATEK professorship for Natalia Volchkova - Professor of Economics, Director of Applied Research, Head of the Department of Macroeconomics, Ph.D, CEMI, post doc, Massachusetts Institute of Technology. New Economic School wishes to extend its sincere gratitude to "NOVATEK" and, personally, to the Chairman of the Board Leonid Mikhelson for their kind assistance and support for NES, which thrives to be on the forefront of the economic science in Russia. We believe that students and graduates of the program "Economics of Energy and Natural Resources" equipped with advanced knowledge and applied competencies will contribute greatly to the strategic development of the leading companies in the industry, increase the quality of analysis, which are indispensable components of the successful business development. Support of "Novatek" - is an inspiring example of philanthropy and a strong signal the Russian society, business and government about the importance of the mission of NES. "NOVATEK" is Russia's largest independent natural gas producer. The company is engaged in the exploration, production, refining and marketing of natural gas and liquid hydrocarbons and has twenty years of experience in the Russian oil and gas industry. The history of "NOVATEK" began in August 1994 with the formation of "Novafininvest" (formerly called "NOVATEK" until 2003). Since its inception, the Company has concentrated its efforts on the development of oil and gas assets. Today JSC "Novatek" takes the 3rd place in terms of proven gas reserves and 6th place in gas production among publicly traded companies in the world.
The paper by Andrei Markevich and Paul Castaneda Dower, “Labor Misallocation and Mass Mobilization: Russian Agriculture during the Great War” has been published in the Review of Economics and Statistics.
The paper by Anna ObizhaevaAlbert S. Kyle, and Mark Kritzman "A Practitioner’s Guide to Market Microstructure Invariance" has been published in the Journal of Portfolio Management
The paper by Ruben Enikolopov, Andrew Beath, and Fotini Christia "Direct Democracy and Resource Allocation: Experimental Evidence from Afghanistan" has been accepted to Journal of Development Economics
The paper by Marta Troya Martinez "Vagueness and Information-Sharing" has been accepted to Games and Economic Behavior
The paper by Shlomo Weber, Alexei Savvateev and Daniil Musatov "Gale-Nikaido-Debreu and Milgrom-Shannon: Communal Interactions with Endogenous Community Structures" accepted for publication in the Journal of EconomicTheory
The paper by Ruben EnikolopovAndrew Beath, Fotini Christia, and Georgy Egorov (MAE'2003) "Electoral Rules and Political Selection: Theory and Evidence from a Field Experiment in Afghanistan", published at the Review of Economic Studies
The paper by Anna Obizhaeva and Albert S. Kyle "Market microstructure invariance: Empirical hypotheses" published at the Econometrica
The paper by Mikhail Drugov and Dmitry Ryvkin "Biased Contests for Symmetric Players" accepted for publication in the Games and Economic Behavior in the John Nash Memorial Special Issue
The paper by Ruben Enikolopov, Georgy Egorov, Andrew Beath, Fotini Christia "Electoral Rules and Political Selection: Theory and Evidence from a Field Experiment in Afghanistan" accepted for publication in the Review of Economic Studies
The paper by Ozgur Evren and Stefania Minardi "Warm-Glow Giving and Freedom to be Selfish" accepted for publication in the Economic Journal
The paper by Hosny Zoaby and Joseph Zeira  "Economic Growth and Sector Dynamics" published as a lead article in the European Economic Review
The paper by Maja Adena, Ruben Enikolopov, Maria Petrova, Veronica Santarosa and Ekaterina Zhuravskaya "Radio and the rise of the Nazis in Prewar Germanypublished in the  Quarterly Journal of Economics
The paper by Estelle Dauchy, joint with Sebastiеn Bradley and Leslie Robinson "Cross-Country Evidence on The preliminary Effects of Patent Box Regimes on Patent Activity and ownership was accepted for publication in the National Tax Journal
The paper by Douglas Campbell "Measurement Matters: Productivity-Adjusted Weighted Average Relative Price Indices" was accepted for publication in the Journal of International Money and Finance
The Paper by Hosny Zoaby "Do Highly Educated Women Choose Smaller Families?was published as a lead article in the Economic Journal
The Paper by Hosny Zoaby "Economic Growth and Sector Dynamics" was accepted for publication in the European Economic Review
The Paper by Stanislav Anatolyev and Irina Tarasyuk "Missing mean does no harm to volatility!" was accepted for publication in the Economic Letters
The Paper by Ruben Enikolopov, Maria Petrova, Katya Zhuravskaya, Maja Adena, and Veronica Santarosa "Radio and the rise of the Nazis in Prewar Germany" was accepted for publication in the Quarterly Journal of Economics
Econometric ReviewsThe Paper by Stanislav Anatolyev and Nikita Kobotaev "Modeling and Forecasting Realized Covariance Matrices with Accounting for Leverage" was accepted for publication in the Econometric Reviews.
Journal of Corporate FinanceThe Paper by Ruben EnikolopovMaria Petrova, Artem Durnev, and Veronica Santarosa "Politics, Instability, and International Investment Flows" was published in the Journal of Corporate Finance (February 2015, Volume 30, Pages 299-324)
Andrei SavochkinThe paper by Andrei Savochkin and Stefania Minardi titled" Preferences with grades of indecisiveness" was published in the Journal of Economic Theory (Journal of Economic Theory, 2015, 155: 300-331)
Coming soon
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21 April, Limmud Moscow Conference 2018, “Klyazma” resort place. NES rector Shlomo Weber will deliver a lecture "Hebrew and Esperanto - the tale of two languages". More information >>>
May 29-31, New Economic School. Philippe Aghion, a Professor at Harvard University and the College de France, will give a series of three Zvi Griliches lectures entitled "Firm Dynamics and the Measurement of Growth". Register here >>>
April 27 / 1:45pm, r. 113 NES Research SeminarPablo Selaya (University of Copenhagen)
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26.03.2018 American Economic Association: Taxing Russia's drinking problem. An article based on a paper by Evgeny Yakovlev >>>
13.03.2018 The New Arab: Women Liberation. Column by Hosny Zoabi (in Arabic) >>>
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