Honorary Lecture by Professor Lawrence Kotlikoff at HSE ICEF
On January 15, Professor Larry Kotlikoff gave a talk on measuring inequality in lifetime spending power within different age cohorts in the USA, net tax rates facing Americans, and current wealth indicators.
Lawrence Kotlikoff is a highly distinguished economist with over 200 published papers and numerous books on economics of intergenerational relations, consumption, saving, taxation, public finance and personal finance, in which areas he is a global specialist and consultant. He has served as Chief Economic Advisor to the US President, many national (including Russian) and international organizations, and has been a candidate for US president himself (2012).
Professor Kotlikoff is well-known for his work questioning the importance of saving for retirement in determining total U.S wealth accumulation (with Lawrence Summers). Together with Alan Auerbach, Prof Kotlikoff developed the first large-scale computable general equilibrium life-cycle model of economies comprising of a large number of overlapping generations. He is also known as a very substantive critique of the existing approaches to measurement of inequality using existing macroeconomic indicators many of which, he claims, are ill-defined. He eloquently elaborated on that view during his HSE lecture, which has been attended by more than 150 faculty and students. In particular, he advocated the use of spending rather than current income as the real measure of people's lifetime wealth, as the former tends to be a more reliable and time-invariant indicator of lifetime earning abilities. Proper measurements of income and inequality are important to qualify the issues of capital accumulation dynamics advanced recently by Thomas Piketty, as well as to fiscal imbalances, progressivity and regressivity of the tax scales, intergenerational transfers, ecological sustainability and other aspects of global economic development.
The audience will definitely remember his presentation of lifetime budgetary plan illustrated using special Fiscal Analyzer software developed by his company, as well as a live illustration of the virtual character of current wealth indicators (proven by the destruction of a $10-bill in real time by one of the attending students).
2020 iCare Participants Discuss the Economic Effects of the Pandemic, the Accessibility of Higher Education in Russia, and More
On September 21, the VIII International Conference on Applied Research in Economics (iCare) was held online, bringing together more than 100 researchers from 19 countries. Organizers, speakers, teachers, and students shared their impressions of the event and talked about the opportunities that the conference opens up for them.
This year, alternatives to studying abroad are as relevant as never before. HSE University annually launches new joint programmes with world’s biggest universities. One of HSE’s oldest and most recognized double degree programmes is the ICEF bachelor’s programme, in which students can earn a degree not only from HSE University, but from the University of London as well. Below, we talk about the advantages of such a degree, career opportunities after graduation, and the programme prerequisites.
Not much is known about fathers on the Russian labour market. It has often been claimed that they earn more than their childless peers. However, new research states that there is no such ‘premium’ for being a father in Russia. Nevertheless, men with kids still have higher salaries.
New Inequality, Environmental Impact and Other Consequences of the Coronavirus Pandemic: III ICEF Conference on Applied Economics Focuses on COVID-19
This year, the ICEF Conference on Applied Economics will be held online for the first time ever. On September 12, experts from around the world will discuss the impact of the coronavirus pandemic on the global economy. The HSE News Services describes the papers that will be presented and why the organizers decided to devote this event to COVID-19.
The sharing economy involves shared use of assets and services. This means that users do not need to purchase or own them outright. Assets can be exchanged, borrowed or leased. But not everyone is ready for this model. What factors determine whether or not someone is willing to participate in the sharing economy?
Russians who are open to new experience, conscientious, and emotionally stable have better chances of achieving professional and financial success. This is the finding of a study conducted by HSE researchers that analyzed the impact of personal qualities on the behavior of Russian citizens of various social and economic groups. The study was based on a vast range of data collected from 2000 to 2016.
On July 3, 2020, the 4th Eastern Conference on Football Economics and the 6th Western Conference on Football and Finance were held. Jointly organized by HSE University, the University Paderborn, the New Economic School, the EWG OR in Sports, and the University of Reading, the conference was dedicated to the economic, financial and social aspects of football. Some of the organizers and participants of the conference spoke to the HSE News Service about the conference and their research.
Hyen Jin Han is doing her Master's in Financial Economics at HSE International College of Economics and Finance. In her interview, she talks about her passion for economics, studying at the ICEF, and career aspirations.
On Wednesday, May 13, the award ceremony for the 2020 Russian National Award in Applied Economics took place on Zoom as part of the XXI April International Academic Conference on Economic and Social Development. This year the prize was awarded to Marco Francesconi (University of Essex, UK), Fabián Slonimczyk, and Anna Yurko (HSE University, Moscow)
This year the award was bestowed on Marco Francesconi (University of Essex, UK), Fabián Slonimczyk and Anna Yurko (HSE University, Moscow). The team of authors was recognized for their article, which reliably proves the increased geographic mobility of high school graduates seeking to obtain a higher education following the introduction of the Unified State Exam.