Analysis of the restructuring of the Russian defence industry (by the example of aviation industry and knaapo) and the creation of United Aviation Construction Corporation

The present study is focused on the analysis of the three main governmental measures occurred in 2000-2006 in Russian defense industry: the creation of the holding structures, the establishing of the state monopoly in arms export, and creation of the United Aviation Construction Corporation (Ob¿edinennaya Aviastroitel¿naya Corporatziya), which was initiated by the President and Government of Russian Federation in 2006. The last project assumes the consolidation and joining of all producers of civil and military aviation into one united corporation in order to save the technological and productive potential of the sector after serious crisis in 1990-s. On the other hand, this project can be considered as one of the measures to establish state control and hierarchy in the defense industry. The current project tries to analyze the necessity and the possible impacts of restructuring processes. In order to perform such analysis, I need to observe the evolution of the sector, which involves the description of the restructuring and reforming of the industry since the disintegration of the Soviet Union. The current situation in aviation sector was shaped by number of reforms performed by Government of Russian Federation, which I describe in phases: conversion, privatization, decentralization, followed by evident desire of the state to establish control over some companies. Later on, I am trying to understand the reasons lying behind all reforms of 2000-2006 and the integration of the industry. I also try to predict which impacts on the companies it will have. The last part presents the main conclusions of the paper.

Mobility, information, and bequest : the other side of the equal division puzzle

There is substantial empirical evidence that parental bequests to their children are typically equal in the US – a regularity inconsistent with the predictions of standard optimizing bequest models. The prior explanation for this puzzle is parents’ desire to signal equal affection given children’s incomplete information of parental preferences. However, parents also have incomplete information regarding children and the implications of this side of the information set have not previously been considered. Using a strategic bequest framework we show that when parents have sufficient uncertainty regarding children’s returns to relocation a separating equilibrium in which parents reward attentive heirs with larger bequests is precluded. We argue that such uncertainty is consistent with conditions in the contemporary US.

Deregulation and The 2007-2008 Housing/Debt Crisis Analysis of the Housing/Debt Crisis of 2007-2008 and its impact on the Financial Strength and Vulnerability of the United States and Global Economy

One looming question has persisted in the minds of economists the world over in the aftermath of the 2007-2008 American Housing and Debt Crisis: How did it begin and who is responsible for making this happen? Another two-part question is: What measures were implemented to help end the crisis and what changes are being implemented to ensure that it will never happen again? Many speculate that the major contributing factor was the repeal of the Glass-Steagall Act in 1999 that prompted a virtual feeding frenzy among the banking community when new calls from Capitol Hill encouraged home ownership in America as well as the secondary mortgage market which skyrocketed thereafter. The Glass-Steagall Act will be among many of the topics explored in this paper along with the events leading up to the 2007-2008 housing/debt crisis as well as the aftermath.