A graduate of the HSE in Nizhny Novgorod, Dmitry Khametshin: ‘My academic career is my priority’
A graduate of the HSE in Nizhny Novgorod, Dmitry Khametshin is now getting his Ph.D. from Universitat Pompeu Fabra in Barcelona, Spain. He talks about his professional career and future plans.
— I am taking a postgraduate course at Universitat Pompeu Fabra (UPF) in Barcelona and teach econometrics classes to UPF master's students. Before that, I completed two master's courses—an MSc at the Barcelona Graduate School of Economics and then the research master’s course MRes/MPhil at Tilburg University in the Netherlands. In economics, a research master's degree is usually required before admission to a PhD program. Prior to that, I completed a specialist course at the HSE in Nizhny Novgorod, and then worked there for 3.5 years at the Department of Financial Management .
— Are you now working in the same academic field? Or have your research interests, perhaps, changed over the past two years?
— My research interests are basically the same — finance of all types, including the economics of financial intermediation, corporate finance, the pricing of financial assets, macroeconomics, and monetary economics. The subject of my thesis lies at the junction of banking theory and monetary economics.
— Have you already been involved in the University's research projects?
— Yes, my academic supervisor offered me to work under his guidance on a research project, and I agreed, of course. I am responsible for the empirical part. This project will inform a chapter in my future thesis.
— Tell us about your plans — will you continue in academia or shift to a business career?
— My academic career is, of course, my priority, but much will depend on the results of my postgraduate work. I do not rule out business—such as consulting or analytics — as long as it is not monotonous or boring.
— Some people believe that before taking a postgraduate course, one should work for a few years and then decide whether or not to pursue an academic career. What’s your opinion?
— Business and research are not so drastically different after all, even though they require certain different skills and abilities. Research is the production of knowledge. Sometimes we encounter a distorted view of academic studiesresearch activity—eg that an economic theory is useless and detached from real life, but this is not true. Serious research may have a great impact on economic policy, not to mention that all businesses have to deal with the laws of economics, so they are better off understanding them. In academia, just as in business, there is work—routine, but sometimes as intense—and highly integrated, highly competitive markets for human resources and final products, ie knowledge. Scientific research is just like business. It has its own routines and, at times, is just as intense; its integrated markets compete at a very high level for human resources and the final product—knowledge.
— Between studies, teaching, and research — do you have any time left for leisure or travel? I remember your passion for opera. Have you been to any concerts in Europe?
— The Netherlands has lots of opera houses. Just for comparison: the country is almost half the size of the Nizhny Novgorod region, and just look at how many orchestras they have. This year, I had very little free time and could only go to the opera once. Luckily, Barcelona hosts many festivals and contemporary art venues, so you have plenty of choice, not limited to the classics!
On November 24–25, 2023, the 12th ICEF-CInSt International Finance Conference took place in Moscow. Researchers from Russia, China, Hong Kong, Taiwan, the USA, Canada, Italy, and the United Kingdom contributed as speakers and discussants. The organisers and participants of the conference shared their impressions of the event with the HSE News Service.
HSE University’s Online Campus is accepting applications for ‘Master of Finance’, an online programme taught in English at the HSE Banking Institute. The design of the online programme meets the needs not only of current students, but also of working professionals who want to expand their knowledge of financial strategies and learn how to increase their investments and diversify risks.
Researchers from VTB and HSE University-St Petersburg have come up with an algorithm for predicting stock price fluctuations in the Russian market by analysing financial news. By making financial projections for next week (or month), the novel STTM (Stock Tonal Topic Modelling) algorithm can help investors build more effective financial strategies. The paper has been published in PeerJ Computer Science.
Having examined the impact of various factors on cryptocurrency returns, HSE economists found that fluctuations in cryptocurrency prices can be better explained by equity market risks than by factors specific to the crypto market, suggesting greater linkages between cryptocurrency and equity markets than previously believed. The study is published in a special issue of International Finance Review.
During his visit to ICEF, Sergey Tsyplakov, a professor in finance at Moore School of Business of the University of South Carolina, delivered a lecture to students and contributed to ICEF-CInSt 11th International Moscow Finance Conference as a keynote speaker. In this interview, Sergey shares what surprised him about ICEF students, why scientific paper reviewing may not always be objective, and why people on Wall Street read academic research.
On October 14, HSE University will host the 11th ICEF-CInSt International Moscow Finance Conference. This year’s event is the result of the joint organisational efforts of the International Laboratory of Financial Economics (LFE ICEF) and the Centre for Institutional Studies (CinSt). Vladimir Sokolov and Maria Semenova, members of the conference's organising committee, spoke to the HSE News Service about the programme and participants of the event.
What risks is the Russian financial system facing today? What is the Central Bank of Russia going to do to mitigate them? Why do we need a high key rate? Has the regulator changed its approach to the building of forex reserves? Will the regulator remain hawkish on cryptocurrencies? Ksenia Yudaeva, First Deputy Governor of the Central Bank of Russia, answered these and other questions during a round table entitled ‘Russia’s Financial Sector under New Global Conditions’. The event was held as part of the XXIII Yasin (April) International Academic Conference.
After analysing the price fluctuations of almost 2,000 cryptocurrencies over seven years, Victoria Dobrynskaya, Associate Professor at the HSE University Faculty of Economic Sciences, found that there are no fundamental differences between their behaviour and that of conventional assets. Cryptocurrency follows the same principles, although its prices change much faster: processes that usually take years on traditional markets take only a month or so on the cryptocurrency market. An article on this research was reprinted by SSRN.
Unusual ways of investment, such as collecting toys, can generate high returns. For example, secondary market prices of retired LEGO sets grow by 11% annually, which is faster than gold, stocks, and bonds, HSE University economists say. Their paper was published in the Research in International Business and Financejournal.
The 10th International Moscow Finance Conference, organized by HSE ICEF, took place on October 29–30 online. Vladimir Sokolov, Head of the International Laboratory of Financial Economics, which hosted the conference, talks about the participants, the key presentation topics and how they will impact the global economy.