Penn State University
The Institute for Financial Studies (IFS) is a long-term scientific partner of the Department of Economics at The Pennsylvania State University (PSU). Two research centers were established with the participation of the IFS: the Center for the Study of Auctions, Procurements and Competition Policy (CAPCP) and the Center for Research on International Financial Energy Security (CRIFES). These centers are involved in joint projects IFS and PSU. Currently the joint research is conducted in the field of energy economics. Monographs on this subject are preparing. Since 2008 Academic director of IFS Andrey Vavilov has been a Professor of Visiting Senior Scholar. Mr. Vavilov delivers seminars for masters and postgraduate students PSU. In addition, Mr. Vavilov is a co-director of CAPCP and scientific adviser CRIFES.
Cooperation results were presented at conferences held in 2008-2011 at Penn State University. The Nobel laureates in Economics Eric Maskin and Robert Engle were the special guests at these conferences Dr. R. Engle has also supported a program of joint Russian-American investigations in which IFS staff conducted research at the Stern School of Business at the New York University. A selected research topic was the financial turbulence. The results were presented at conferences "Volatilities and Correlations in Stressed Markets" (2009) and "Volatility and Systemic Risk" (2010). Cooperation between the IFS and the Department of Economics at PSU began in 2007. The joint research program started in the framework of cooperation IFS and CAPCP.
Academic Director of IFS Andrey Vavilov, CEO of IFS, Professor Aleksey Pomansky, Professor of PSU Barry Ickes and Bob Marshall with the participation of Vijay Krishna and Mark Roberts have formed the current program of research. The subject of the research is auctions conducted by the Russian Federation for distribution of subsoil. In particular, we studied the mechanisms of collusion and a problem of choice between the price auctions and tenders. On the one hand this theme continued CAPCP tradition, on the other hand it used a rich of scientific and practical experience of IFS staff. The result was the creation of a database of oil and gas auction which was used in a number of publications including the Quarterly Journal of Economics.
Cooperation with CRIFES required greater integration of scientific processes: several of IFS employees were invited as PSU researchers. Energy security, gas market, shocks in oil prices these are some of the many themes that we developed within the project. Joint project of monograph is being prepared for publication in a prestigious international publishing. In addition, a joint initiative was discussed at a conference in Brookings Institution "After the Reset: US-Russian Leadership for Global Financial and Energy Security".
Credit-driven Asset Inflation and Intergenerational Wealth Transfers by G. Trofimov
"Credit-driven Asset Inflation and Intergenerational Wealth Transfers" article was published in Journal of Mac...
FINANCIAL MARKETS’ DIFFICULT PUZZLES
The article by G.Yu. Trofimov, IFI Chief Economist, Financial Markets’ Difficult Puzzles, devoted to the Noble Prize Win...
A. Vavilov became a member of the New Economic School Board of Directors.
In May 2013 Andrey Vavilov became a member of the New Economic School Board of Directors.
Europe-Asia Studies reviewed Andrey Vavilov's "The Russian Public Debt and Financial Meltdowns"
Europe-Asia Studies reviewed Andrey Vavilov's "The Russian Public Debt and Financial Meltdowns" in Vol. 65...
The Russian Public Debt and Financial Meltdowns
Journal of Economic Issues reviewed Andrey Vavilov's "The Russian Public Debt and Financial Meltdowns" in ...
SOLLERS and FIAT versus GAZ GROUP, DUCATO versus GAZEL
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AVTOVAZ stakes on LADA priora
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Russian arms exports taking a jump in 2009
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