Theory of Shocks, COVID-19, and Normative Fundamentals for Policy Responses

The phenomenon of shocks is often mentioned in relation to economic crises but rarely studied. This gap in research has resulted in shocks being poorly understood, with no fundamental explanation of their inciting conditions. It is a system-forming problem that cannot be investigated without dynamic ideas about the economy, but an incomplete understanding of this event leaves economic systems vulnerable to collapse. Theory of Shocks, COVID-19, and Normative Fundamentals for Policy Responses is an essential publication that explores the factors that cause economic shocks and the mechanisms of their implementation. The book serves as a resource for the development of policy-oriented frameworks for achieving and maintaining national and international strategies to properly manage future global shocks. Featuring coverage of a wide range of topics including dialectics, self-evolvement, and structural relationships, this book is ideally designed for economists, executives, managers, entrepreneurs, academicians, students, and researchers in the areas of finance, macroeconomics, economic theory, and risk assessment.

About the Author :
Olga Ivanovna Pilipenko received her diploma of Higher Education from the Moscow State Institute for Foreign Relations (MGIMO University) in 1975. In 1981 she received her degree of Candidate of Science in Economics from the Institute of Latin America of the USSR' Academy of Science. In 1994 she received a degree of Doctor of Economics from Lomonosov's Moscow State University. She worked as a full Professor for many Russian Universities: All-Russian Correspondence Financial and Economic Institute (VSFEI), People’s Friendship University of Russia (RUDN), Lomonosov's Moscow State University, Russian Presidential Academy of National Economy and Public Administration (RANERA) (last work). In the 1990s, under the interstate exchange program, she trained in Denmark (Hearing Institute of Technology, and Aarhus University). She has more than 130 publications, including ones indexed by RISC (RF), Scopus, Web of Science. Her scientific interests lie in the areas of bifurcation effects' modeling in global financial markets in connection with shocks, interaction of factors of global financial stability, of monetary circulation, of public finance, of monetary and fiscal policies interaction, of cyclical development of economic and financial systems in context with theory of shocks. Zoya Andreevna Pilipenko received her Master’s Degree in Economics from Lomonosov’s Moscow State University in 2003. In 2004 she received her degree of Candidate of Science in World Economy, Finance, and Banking from Lomonosov’s Moscow State University. In 2013 she received her degree of Doctor of Science in World Economy, Finance, and Banking from Lomonosov’s Moscow State University. She worked as a financial analyst for the Insurance Company “Gefest” (Russia, Moscow), the Joint Stock Company “Sberbank” (Russia, Moscow). For the last 15 years she has been working for the Central Bank of Russia. She has teaching and research experience: more than 50 publications, indexed RISC (RF), Scopus, Web of Science. She has got certificates in Banking and Finance from practical seminars in Great Britain, Luxembourg, Austria, Italy, and France. She has got certificates in Banking and Finance from practical seminars in Great Britain, Luxembourg, Austria, Italy and France. Her research interests lie in the field of shocks theory and the implementation of dialectical laws in the processes of self-movement of systemic integrity in economics and finance, as well as the peculiarities of the formation and implementation of monetary and fiscal policy in relation to certain sectors of the financial market at the national and global levels. Andrey Igorevich Pilipenko was graduated from the Leningrad State University (Faculty of Mathematics and Mechanics) in 1972. In 1984 he received his degree of Candidate of Science in Physics and Mathematics from the Institute of Physical Chemistry of the USSR' Academy of Science. In 1998 he received a degree of Doctor of Pedagogical Sciences from the Russian Academy of Education. For more than 40 years he worked as full Professor for many Russian Universities: All-Russian Correspondence Financial and Economic Institute (VSFEI), People’s Friendship University of Russia (RUDN), Lomonosov's Moscow State University, Russian Presidential Academy of National Economy and Public Administration (RANERA) (last work). He was invited as a Professor by Gumilyov' Eurasian National University (Kazakhstan). He has more than 130 publications, including ones indexed by RISC (RF), Scopus, Web of Science. His scientific interests lie in the areas of mathematical modeling of processes of cyclical changes in economics and finance in terms of a synergistic approach to nonlinear fluctuations and waves; adaptation of the Heisenberg uncertainty principle in the choice of management decisions in public finance; stochastic processes in the context of shocks theory; the theory of psychological and cognitive barriers in education in the context of the mechanisms of self-organization (education) and self-development (socialization) of a person in post-coronavirus reality.