Sergey E. Pekarski
- Dean:Faculty of Economic Sciences
- Laboratory Head:Faculty of Economic Sciences / International Laboratory for Macroeconomic Analysis
- Professor:Faculty of Economic Sciences / Department of Theoretical Economics
- Tenured Professor (2014)
- Member of the HSE Academic Council
- Sergey E. Pekarski has been at HSE University since 1998.
Education and Degrees
- 2006
Candidate of Sciences* (PhD) in Economic Theory
HSE University - 2006
PhD
Erasmus Universiteit Rotterdam
Thesis Title: Fiscal and Monetary Policy Interaction and the Sustainability of Public Debt - 1998
Master's
HSE University - 1998
Master's in Economics
HSE University, Economics - 1998
Degree in Mathematics
Moscow State Institute of Electronics and Mathematics, Applied Mathematics
According to the International Standard Classification of Education (ISCED) 2011, Candidate of Sciences belongs to ISCED level 8 - "doctoral or equivalent", together with PhD, DPhil, D.Lit, D.Sc, LL.D, Doctorate or similar. Candidate of Sciences allows its holders to reach the level of the Associate Professor.
Young Faculty Support Program (Group of Young Academic Professionals)
Category "Future Professoriate" (2007)
Student Term / Thesis Papers
- Bachelor
K. Chernov, Financial Repression: a Positive Approach. Faculty of Economic Sciences, 2020
S. Sereda, Financial Repression and Populist Government in a Calibrated General Equilibrium Model. Faculty of Economic Sciences, 2020
A. Chushkina, The Impact of Negative Interest Rate Policy on the Behavior of Commercial Banks. Faculty of Economic Sciences, 2020
Z. Maximenko, Financial Repression and Economic Growth. Faculty of Economic Sciences, 2019
V. Semerikov, Financial Repression in a Model of Strategic Fiscal and Monetary Policy Interaction. Faculty of Economic Sciences, 2019
A. Ermolaeva, Optimal Financial Repression. Faculty of Economic Sciences, 2019
R. Pilipeyko, Capital Outflow from Russia. Faculty of Economic Sciences, 2019
D. Matviienko, Revenue From Financial Repression: A Cross-Country Comparison. Faculty of Economic Sciences, 2018
E. Korneeva, Financial Repression and Russian Banking Sector. Faculty of Economic Sciences, 2018
A. Titova, Conjoint Effect of Fiscal Rule and Inflation Targeting on the Development of Countries with Resource-Based Economies. Faculty of Economic Sciences, 2018
V. Zabolotskiy, Fiscal and Monetary Policy Interaction in an Export-Oriented Economy. Faculty of Economic Sciences, 2017
A. Sharipov, Effects of Financial Repression: an Empirical Estimation for Russia. Faculty of Economic Sciences, 2017
M. Shutikova, Fiscal and Monetary Policy Interaction and Financial Repression. Faculty of Economic Sciences, 2017
D. Sidoruk, Financial Repression and Economic Growth. Faculty of Economic Sciences, 2017
A. Borisov, Non-market Debt Placement and Productive Government Spending. Faculty of Economic Sciences, 2017
A. Vardanyan, Monetary Policy with Interest on Reserves in FTPL. Faculty of Economic Sciences, 2016
I. Kravtcova, Financial Repression and Economic Growth: Empirical Evidence. Faculty of Economic Sciences, 2016
A. Karpova, Fiscal Limits and Monetary Policy in the EMU. Faculty of Economic Sciences, 2014
A. Vasilenko, Interaction between monetary and macroprudential policy, unconventional monetary policy and interbank market. Faculty of Economic Sciences, 2014
O. Kiseleva, The Sustainability of Public Debt in Presence of Fiscal Limits. Faculty of Economic Sciences, 2014
A. Marty'nov, The Interaction of Fiscal and Monetary Policy in the Euro Area. The Participation of Financial Intermediaries.. Faculty of Economic Sciences, 2014
- Master
E. Zavilovich, Financial Repression and Economic Growth. Faculty of Economic Sciences, 2020
E. Korneeva, Comparison of the Impact of Negative Real and Nominal Interest Rates on the Banking Sector and Lending to the Economy. Faculty of Economic Sciences, 2020
E. Nemtinova, Deviations from Covered Interest Rate Parity. Faculty of Economic Sciences, 2018
L. Smirnov, Time-Consistent Optimal Fiscal Policy. Faculty of Economic Sciences, 2017
A. Kofnov, A Continuous-Time Stochastic Model of the Fiscal Theory of the Price Level and Consistency of Its Critique. Faculty of Economic Sciences, 2017
A. Akhtyamova, Is There an Asset Price Bubble in Financial Markets Nowadays? The Role of Unconventional Monetary Policy in Its Creation. International College of Economics and Finance, 2017
M. Coppo, Exchange Rate Regimes in Fuel Exporting Countries: Сhoices and Сonsequences. Faculty of World Economy and International Affairs, 2016
I. Bakalova, Macroeconomic Policy under Sovereign Default Risk. Faculty of Economic Sciences, 2014
Courses (2020/2021)
Macroeconomics-2 (Bachelor’s programme; Faculty of Economic Sciences; field of study "38.03.01. Экономика", field of study "38.03.01. Экономика"; 3 year, 1, 2 module)Rus
- Research Project Seminar (Optional course (faculty); Faculty of Economic Sciences; 1-3 module)Rus
- Past Courses
Courses (2019/2020)
- Advanced Macroeconomics (Master’s programme; Faculty of Economic Sciences; 1 year, 2, 3 module)Eng
Macroeconomics-2 (Bachelor’s programme; Faculty of Economic Sciences; field of study "38.03.01. Экономика", field of study "38.03.01. Экономика"; 3 year, 1, 2 module)Rus
- Research Seminar «Macroeconomic Policy» (Master’s programme; Faculty of Economic Sciences; 1 year, 1-4 module)Rus
- Research Seminar «Macroeconomic Policy» (Master’s programme; Faculty of Economic Sciences; 2 year, 1-3 module)Rus
- Research Seminar "Macroeconomics and Macroeconomic Policy" (Bachelor’s programme; Faculty of Economic Sciences; 4 year, 1-3 module)Rus
Courses (2018/2019)
- Advanced Macroeconomics (Master’s programme; Faculty of Economic Sciences; 1 year, 1-4 module)Eng
Macroeconomics-2 (Bachelor’s programme; Faculty of Economic Sciences; field of study "38.03.01. Экономика", field of study "38.03.01. Экономика"; 3 year, 1, 2 module)Rus
- Macroeconomics - 3 (Master’s programme; Faculty of Economic Sciences; 1 year, 3, 4 module)Eng
- Research Seminar «Macroeconomic Policy» (Master’s programme; Faculty of Economic Sciences; 1 year, 2-4 module)Rus
Publications22
- Article Кузнецова О. С., Мерзляков С. А., Пекарский С. Э. Воздействие на доверие населения как способ преодоления ловушки ликвидности // Вопросы экономики. 2019. № 6. С. 56-78. doi
- Article Pekarski S. E. Tight Money and the Sustainability of Public Debt // International Journal of Central Banking. 2017. Vol. 13. No. 1. P. 191-223.
- Article Пекарский С. Э., Исаков К. С. Эффективность фискального стимулирования в условиях финансовой репрессии // Журнал экономической теории. 2017. № 4. С. 59-68.
- Article Исаков К. С., Пекарский С. Э. Оценка воздействия финансовой репрессии на доходы бюджета // Экономическая политика. 2016. Т. 11. № 5. С. 28-49. doi
- Preprint Isakov K., Pekarski S. E. Financial Repression and Laffer Curves / NRU Higher School of Economics. Series WP BRP "Economics/EC". 2015. No. 113/EC/2015.
- Preprint Pekarski S. Tight Money and the Sustainability of Public Debt / NRU Higher School of Economics. Series EC "Economics". 2015. No. WP BRP 95/EC/2015.
- Article Мерзляков С. А., Пекарский С. Э. Взаимодействие консервативного центрального банка и правительства в экспортоориентированной экономике // Горизонты экономики. 2015. Т. 23. № 4. С. 37-45.
- Article Норкина О. А., Пекарский С. Э. Нерыночное размещение долга как финансовая репрессия // Журнал Новой экономической ассоциации. 2015. № 28. С. 31-55.
- Preprint Pekarski S. E., Norkina O. Optimal financial repression / NRU Higher School of Economics. Series WP BRP "Economics/EC". 2014. No. 81.
- Chapter Пекарский С. Э. Лев Львович Любимов: «Не для себя, а для Университета мы трудимся» // В кн.: Поколения ВШЭ. Ученики об учителях. М. : Издательский дом НИУ ВШЭ, 2013. С. 8-12.
- Article Малаховская О. А., Пекарский С. Э. Исследования причинно-следственных взаимосвязей в макроэкономике: нобелевская премия по экономике 2011 г. // Экономический журнал Высшей школы экономики. 2012. Т. 16. № 1. С. 3-30.
- Article Pekarski S. E. Budget deficits and inflation feedback // Structural Change and Economic Dynamics. 2011. Vol. 22. No. 1. P. 1-11. doi
- Preprint Merzlyakov S., Pekarski S. E. Macroeconomic Policy in an Export-Oriented Economy / NRU Higher School of Economics. Series WP12 "Научные доклады лаборатории макроэкономического анализа". 2011. No. 07.
- Article Пекарский С. Э., Атаманчук М. А., Мерзляков С. А. Стратегическое взаимодействие фискальной и монетарной политики в экспортно ориентированной экономике // Деньги и кредит. 2010. № 2. С. 52-63.
- Article Пекарский С. Э., Атаманчук М. А., Мерзляков С. А. Модель макроэкономической политики в экспортоориентированной экономике // Экономический журнал Высшей школы экономики. 2008. Т. 12. № 3. С. 337-364.
- Book Pekarski S.E. Fiscal and Monetary Polocy Interaction and the Sustainability of Public Debt. M. : Higher School of Economics Publishing House, 2007.
- Preprint Pekarski S. E. Бюджетные дефициты и эффекты обратной связи от инфляции / NRU Higher School of Economics. Series WP BRP 55/LNG/2017 2007. No. 12.
- Preprint Пекарский С. Э., Атаманчук М. А., Мерзляков С. А. Взаимодействие фискальной и монетарной политики в экспортоориентированной экономике / Высшая школа экономики. Серия WP12 "Научные доклады лаборатории макроэкономического анализа". 2007. № 02.
- Preprint Pekarski S. E. “Неприятная монетаристская арифметика”? Роль переходной монетарной динамики / NRU Higher School of Economics. Series WP BRP 55/LNG/2017 2007. No. 13.
- Article Пекарский С. Э. Взаимодействие правительства и центрального банка: можно ли обойти «неприятную монетарную арифметику»? // Экономический вестник. 2004. Т. 4. № 4. С. 653-664.
- Article Пекарский С. Э. Координация макроэкономической политики: случай неустойчивой динамики инфляции и государственного долга // Экономический журнал Высшей школы экономики. 2001. Т. 5. № 4. С. 492-518.
- Article Пекарский С. Э. Нелинейные эффекты воздействия инфляции на бюджетный дефицит и государственный долг // Экономический журнал Высшей школы экономики. 2000. Т. 4. № 3. С. 309-322.
Lockdown by Algorithm: A Proposed Model Calculates Optimal Restriction Levels
During the pandemic, countries have endeavoured to protect their citizens without hurting their economies with excessive restrictions. At the seminar ‘Living with Covid-19: Optimal Lockdown Policies’, Hubert Kempf, academic supervisor of HSE University’s International Laboratory for Macroeconomic Analysis, presented a mathematical model that can be used to calculate the optimal level of restrictions.
HSE Ranks Among the World’s Top 50 Universities in Three QS Subject Rankings
HSE University has expanded its presence in the top 50 of QS subject rankings, placing in two additional subject rankings. HSE is represented in 4 of the 5 broad subject areas ranked by QS, and it has significantly improved its performance from last year in almost half of the individual subjects rankings in which it is included.
Economics and Economic Policy Master Program at HSE
Starting September 2021, master programs Applied Economics and Economics: Research Programme will merge to become tracks of the newly established program Economics and Economic Policy. Research track will be taught entirely in English, while in two other tracks - Economic Policy and Applied Economics, instruction will be available in English and Russian.
HSE University Enters THE Top 100 in Economics and Appears in Law Ranking for the First Time
HSE took 94th place in the THE ranking in Business & Economics, outperforming all the other Russian universities in this subject. In addition, the university entered the ranking in Law for the first time (151+ cohort), becoming the only Russian university represented there.
Erasmus University Rotterdam & HSE Celebrate 25 Years of Educational Cooperation in Economics
Students, faculty, and alumni of HSE University and Erasmus University Rotterdam gathered to celebrate the 25th anniversary of educational cooperation between the two universities. Attendees reminisced about the past, discussed the future, and explored career opportuntiies at a roundtable, 'Building a Career with EUR'. The newly renovated Pokrovka complex in Moscow was one of many surprises for the participants, which included representatives of Nuffic Neso Russia and Erasmus University alumni.
‘Don’t Be Afraid to Dream and Set New Goals for Yourself’
Every year HSE graduates get accepted to postgraduate schools at the world’s leading universities. Vladislav Semerikov is just now completing his fourth year in the Bachelor’s Programme ‘Economics’, and he has already been accepted to a PhD programme at Pennsylvania State University.
Sergey Pekarski Elected New Dean of Faculty of Economic Sciences
The HSE Academic Council announced that Sergey Pekarski, Head of the Department of Theoretical Economics, will take over as Dean of Faculty from Oleg Zamulin, who will join Sberbank’s Centre of Macroeconomic Research as Director. Professor Zamulin will retain his position of professor at the faculty and continue teaching.
12 HSE Professors Awarded Tenure
On September 26 twelve HSE faculty members were promoted to Tenured Professors.
