Central Economics and Mathematics Institute

About: Central Economics and Mathematics Institute is a facility organization based out in Moscow, Russia. It is known for research contribution in the topics: Population & Foreign-exchange reserves. The organization has 297 authors who have published 580 publications receiving 6449 citations. The organization is also known as: Federal State Institution of Science Central Economics and Mathematics Institute of the Russian Academy of Sciences.

On the Specifics of Entrepreneurship Perception by University Students

Abstract: On the base of the survey in two universities in Voronezh (680 students) the hypothesis is rejected that students, in accordance with J. Schumpeter's interpretation of entrepreneurial activity, associate entrepreneurship with innovations. It is found that the student's perception of entrepreneurship in the Russian cultural and linguistic environment differs from the Schumpeterian one. Although the inclination to joining entrepreneurship in the future is widespread among the students, they are not ready to innovate. Students perceive entrepreneurship primarily as a pathway to financial security and personal well-being. Respondents tend to neglect socially significant aspects of entrepreneurship. It is revealed that the students miss a holistic system of views and priorities regarding to their careers. Personal interests and motivations prevail over business inclinations. This is expressed in the students' career preferences, which incline to the ability to combine business and personal life, to the pursuit of financial security, material well-being, avoiding difficulties. As a rule, students prefer interesting and creative work. Hard work and education as factors of success in their future professional careers are valued low. At the same time, weak social inclinations are manifested. Mutual assistance and cooperation as factors of professional progress are rated low. Also, the students are not inclined to work much and hard for the sake of public benefits. Prevailing not only personal interests as compared to the social, but even personal as compared to professional is an obstacle to the students joining the innovative entrepreneurship, requiring the priority of business and professional interests. The low interest to continuing family business reflects the young people's desire to independence, to free choice of path. This indirectly indicates their deviation from traditional values (which are considered to be characteristic of the Russian culture in the past) and about the growth of their individualism.

A myth of soft budget constraints in socialist economies

Abstract: Most of the time the budget constraints in the socialist economies were harder than in developing countries and no less hard than in developed countries. The soft budget constraints (SBC) in socialist economies were not pervasive, as most authors believe, but selective, i.e. involved subsidization of some enterprises/industries at the expense of the other. This type of selective subsidization is a classic case of industrial policy: it may be good or bad, leading to success (China, Vietnam) or failure (USSR, Eastern Europe), but cannot be regarded as an intrinsic feature of the socialist centrally planned economy and an example of pervasive SBC. Pervasive SBC should be associated with permanent government budget deficit, debt accumulation, high inflation and other forms of macroeconomic populism. In the Soviet Union in the post-war period (after the monetary reform of 1947 and until the Gorbachev financial and monetary expansion that started in 1987) budget deficit and debt were very low, open and hidden inflation was less than several percent a year – a better record than in most Western countries. But in the 1990s in Russia, other former Soviet republics and most East European countries budget constraints were weakened dramatically and inflation increased to hundreds and thousands percent a year. SBC is just one type of this populist macroeconomic policy that was rare in socialist countries, but is found in abundance in many developing countries (especially Latin America and Sub-Sahara Africa) and transition economies (especially FSU states).

Singular initial-value and boundary-value problems for integrodifferential equations in dynamical insurance models with investments

Abstract: We investigate two insurance mathematical models of the following behavior of an insurance company in the insurance market: the company invests a constant part of the capital in a risk asset (shares) and invests the remaining part in a risk-free asset (a bank account). Changing parameters (characteristics of shares), this strategy is reduced to the case where all the capital is invested in a risk asset. The first model is based on the classical Cramer–Lundberg risk process for the exponential distribution of values of insurance demands (claims). The second one is based on a modification of the classical risk process (the so-called stochastic premium risk process) where both demand values and insurance premium values are assumed to be exponentially distributed. For the infinite-time nonruin probability of an insurance company as a function of its initial capital, singular problems for linear second-order integrodifferential equations arise. These equations are defined on a semiinfinite interval and they have nonintegrable singularities at the origin and at infinity. The first model yields a singular initial-value problem for integrodifferential equations with a Volterra integral operator with constraints. The second one yields more complicated problem for integrodifferential equations with a non-Volterra integral operator with constraints and a nonlocal condition at the origin. We reduce the problems for integrodifferential equations to equivalent singular problems for ordinary differential equations, provide existence and uniqueness theorems for the solutions, describe their properties and long-time behavior, and provide asymptotic representation of solutions in neighborhoods of singular points. We propose efficient algorithms to find numerical solutions and provide the computational results and their economics interpretation.

Functionality Evaluation Model for Machine Translation Systems

Abstract: The principal concepts, models and methods for software quality evaluation are presented. Since the definitions of functionality in the existing standards for software quality evaluation are inconsistent, this concept here is defined as a particular case of the concept of quality in qualimetry as applied to software quality evaluation. A generalized model for software functionality evaluation is proposed. A functionality evaluation model for machine translation systems that was developed based on it and can be a prototype for more detailed models is given. Some ways to use such models to evaluate the functionality of machine translation systems numerically are considered.