The article presents the robust estimates of extreme movements and heavy-tailedness properties for Russian stock indices returns before and after sanctions were introduced. The obtained results show that virtually for all sectoral indices there was a statistically significant increase in volatility. At the same time there is not enough evidence of structural breaks in heavy-tailedness, though some indications of a higher degree of heavy-tailedness of both right and left tails in the post-imposition period can be observed for the following indices (listed in the descending order of relative changes): Electric Utilities, Metals & Mining, Financials, Oil & Gas. The results of different tests indicate the relative stability of the obtained empirical evidence of a higher likelihood of stock returns extreme changes. However, we cannot with complete certainty directly link the increase in heavy-tailedness with the imposed sanctions. The latter to a considerable extent could be caused by increased country-specific risks due to geopolitical tensions as well as oil prices volatility. Whatever is the cause, any increases in heavy-tailedness can have grave consequences for corporate management, economic modeling and financial stability analysis.

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High percentage of graduates (among the highest in the world) with university degrees combined with unacceptably low level of utilization of acquired qualifications and generally low quality of education in the majority of Russian universities result in huge structural imbalances. The article presents quantitative estimates of disproportions between the educational levels of employees with higher education and their professional occupation for different branches of economy. A logit models based analysis is performed of how much the professional functions performed by employees match their professional qualifications, levels of education and the extent to which their previously acquired expertise and skills are put into use. The sample used represents working population of Russia with tertiary education. The results obtained allow to the conclusion that worst disproportions between education levels attained and job requirements are observed in trade and services sector, transport and communications, housing and utilities, consumer goods and food industries. The matters are compounded by inert and informationally inefficient labor market, incapable of sending proper signals to national system of tertiary education.