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2011

№ 4

MACROECONOMIC POLICY
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ECONOMICS AND PSYCHOLOGY


PEASANTRY ISSUE


NOTES AND LETTERS

  • F. Seleznev — Industrial Policy of the State: Russia's Historical Experience

CRITIQUE AND BIBLIOGRAPHY

  • Koshanov A. National Economic Interests and Ownership Relations

SCIENTIFIC LIFE

  • French-Russian Discussions at the HSE

Abstracts

E. GURVICH. Roadmap for the New Pension Reform

The paper suggests measures aimed at raising efficiency and long-term sustainability of the pension system. Pension contribution rate, amount of budget transfer to the pension system, and total size of pension benefits in percent of GDP are found to exceed substantially levels typical for the OECD countries and emerging markets. Our major " bottleneck" is very low by international standards support ratio (i.e. number of contributors to pension fund per pensioner). Increase in the retirement age by 2 years for men and 5 years for women would bring life expectancy at retirement in Russia to the level typical for emerging markets. Provisional gain of the budget from this measure is estimated to vary from 1.4 to 2.3% of GDP. The objective of higher retirement age should be not budget gains but stabilization of replacement rate under forthcoming demographic crisis. Other measures suggested include in particular restoring basic pensions, fixing own sources of funds for each of the pension system tiers, and building barriers for running pension imbalances, and fostering late retirement for working aged.

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V. KLEINER. Anti-corruption Strategy for Business in Russia

The article provides a new definition of corruption; it also classifies its types that both domestic and foreign businesses are facing in Russia. The main elements of anti-corruption strategy are presented, which are based on the analysis of sources of corruption and the ways of its penetration into businesses. Practical recommendations are provided on building anti-corruption strategy for Russian and foreign companies.

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S. DELLAVIGNA. Psychology and Economics: Evidence from the Field Part I: Nonstandard Preferences

This first part of a larger work devoted to the modern behavioral economics considers economic aspects of nonstandard preferences that characterize deviations from the standard model of rational decision-making. The author emphasizes the problems of self-control and the context-dependence of human behavior. He then shows how to apply theoretical ideas to the study of savings, labor market, stock exchange, and other domains of economic behavior.

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M. STORCHEVOY. A New Model of Man in Economics

The paper draws on the most recent research in the field of behavioral economics, neuroscience, and other disciplines and shows how biological and social factors interact and co-determine real human behavior. The author considers in detail various affects and forms of non-rational behavior. He proposes a common framework for such analysis, where each of those forms of behavior becomes the result of conscious or evolutionary-driven choice.

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YU. OLSEVICH. Psychology of the Market and Economic Power (On Psychological Approach of Alan Greenspan to the Analysis of Economic Problems)

The article analyzes the psychological basis of the theory and economic policy of libertarianism, as contained in the book by A. Greenspan "The Age of Turbulence", clarifies the strengths and weaknesses of this doctrine that led to its discredit in 2008. It presents a new understanding of liberalization in 1980—1990s as a process of institutional transformation at the micro and meso levels, implemented by politicians and entrepreneurs with predatory and opportunistic mentality. That process caused, on the one hand, the acceleration of growth, on the other hand — the erosion of informal foundations of a market system. With psychology and ideology of libertarianism, it is impossible to perceive real macro risks generated at the micro level, which lead to a systemic crisis, and to develop measures to prevent it.

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M. VOEIKOV. The Great Reform and the Fate of Capitalism in Russia (On the 150th Anniversary of the Emancipation Reform)

The paper deals with the problem of the establishment of capitalism in Russia in the late 19 — early 20th centuries. Using a wide array of historical research and documents the author argues that the thesis on the advanced state of capitalism in Russia in the beginning of the 20th century does not stand up to historical scrutiny, and the role of the famous Emancipation reform of 1861 appears to be of limited importance.

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I. BUZDALOV. Humble Class: On Social Status and Economic Situation of Russian Peasantry

The article considers historical destiny of Russian peasantry and modern realities of its economic and social situation. The inconsistency and moral perversity of abstract ideological schemes and "substantiations" of social inferiority of country estate are shown. Directions and mechanisms of overcoming social injustice in respect to peasantry as a condition of modernization of agriculture are grounded.

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