Bank of Lithuania

Economic research

Being the centre of excellence in economics and finance, the Bank of Lithuania aims to stimulate research activities in its units. The research results contribute to taking monetary and other economic policy decisions as well as developing economic science. Their publication in internationally-acclaimed scientific publications strengthens the Bank of Lithuania’s influence and reputation in the international arena.

Economic research is conducted at the Applied Macroeconomic Research Division of the Economics Department, the Financial Stability Department and the CEFER, established by the Bank of Lithuania and Vilnius University.

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Research priorities

CEFER economists conduct academic research and publish their papers in peer-reviewed scientific journals. Main research topics are as follows:

  • behavioural (experimental) economics, finances
  • macro-finance, Dynamic Stochastic General Equilibrium Models (DSGE)
  • international economics and finances
  • new econometric methods

Priority areas in applied research, conducted by the Economics and the Financial Stability Departments, have been determined on the basis of the current and future demand for sound economic analysis, forecasting and decision-making in the areas of monetary policy, exchange rate and financial stability, as well as in the light of the Bank’s cooperation with the ESCB. Four priority research areas are as follows:

  1. Monetary and fiscal policy:
    - inflation
    - monetary policy transmission mechanism
    - automatic fiscal stabilizers and fiscal rules
  2. Modelling and forecasting:
    - development and estimation of the dynamic stochastic general equilibrium model for Lithuania
    - short-run forecasting models
  3. Convergence research:
    - long-run trends and equilibrium values
    - structural changes in aggregate supply
  4. Financial stability:
    - liquidity risk in the banking sector
    - credit risk in the banking sector
    - development of macro stress testing model
    - international contagion risk

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Recent publications

More
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No 4: Unemployment or Credit: Who Holds The Potential? Results From a Small-Open Economy
2017 April
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No 44: Personal Bankruptcy, Bank Portfolio Choice and the Macroeconomy
2017 April
5
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No 43: Innovation Dynamics and Fiscal Policy: Implications for Growth, Asset Prices, and Welfare
2017 April
5
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No 42: Monetary Policy under Behavioral Expectations: Theory and Experiment
2017 March
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No 4: Unemployment or Credit: Who Holds The Potential? Results From a Small-Open Economy

The Discussion Paper Series presents research papers written by Bank of Lithuania employees that are not necessarily linked to the activities of the institution. Papers are available only in English.

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No 44: Personal Bankruptcy, Bank Portfolio Choice and the Macroeconomy

Papers from the Working Paper Series present research of different authors that aim to encourage discussion and critical commentary. Comments and recommendations for all working papers are provided by internal and external experts. The views expressed are those of the author(s) and do not necessarily represent those of the Bank of Lithuania. Papers are available only in English.

Close description

No 43: Innovation Dynamics and Fiscal Policy: Implications for Growth, Asset Prices, and Welfare

Papers from the Working Paper Series present research of different authors that aim to encourage discussion and critical commentary. Comments and recommendations for all working papers are provided by internal and external experts. The views expressed are those of the author(s) and do not necessarily represent those of the Bank of Lithuania. Papers are available only in English.

Close description

No 42: Monetary Policy under Behavioral Expectations: Theory and Experiment

Papers from the Working Paper Series present research of different authors that aim to encourage discussion and critical commentary. Comments and recommendations for all working papers are provided by internal and external experts. The views expressed are those of the author(s) and do not necessarily represent those of the Bank of Lithuania. Papers are available only in English.

Last update: 18-04-2017