HSE Researchers Demonstrate Effectiveness of Machine Learning in Forecasting Inflation
Inflation is a key indicator of economic stability, and being able to accurately forecast its levels across regions is crucial for governments, businesses, and households. Tatiana Bukina and Dmitry Kashin at HSE Campus in Perm have found that machine learning techniques outperform traditional econometric models in long-term inflation forecasting. The results of the study focused on several regions in the Privolzhskiy Federal District have been published in HSE Economic Journal.
Inflation Eating up Russians' Wages
A drop in the public’s wages in September was accompanied by a growth in demand for durable goods. People tried to use this method to protect their savings from inflation. In addition, hopes for economic growth are becoming more and more illusory, as the main macroeconomic indicators are currently on the decline, experts from HSE's Centre of Development Institute said in the latest edition of New Comments on the State and Business.
Russian Statistics Unhelpful in Predicting Future
Russian statistics are scarce, inaccurate, ormissing – and therefore misleading, rather than helpful. Their limited temporal depth makes any reliable long-term projections of the country's socio-economic development impossible, according to the report 'Russian Statistics: What Do They Preserve for History?' by Vladimir Bessonov, Head of the HSE’s Laboratory for Research in Inflation and Growth.
The New Harvest Slows Down Inflation
A drop in food prices, particularly fruit and vegetable prices, usually observed in summer, and an improved situation in the commodity markets have helped slow down the rate of inflation, according to expert analysis in Comments on State and Business published by the HSE's Centre for Development.
0.6%
was the level that the rate of inflation dropped to in June, according to the HSE Centre of Development Institute. In May, inflation was 0.9%.
The HSE Develops Tool for E-commerce Price Tracking
The Higher School of Economics has developed an internet inflation index to measure fluctuations in online retail prices.
‘I Teach a Very Interesting Subject’
Sergey Pekarsky, Professor at the Faculty of Economics Subdepartment of Macroeconomic Analysis, first came to the HSE to get a second higher education, since he did not know where to apply his knowledge of applied mathematics. Fifteen years later, he is about to head the HSE’s Department of Theoretical Economics, and students have voted him one of the best teachers at the HSE.