Bank of Lithuania
December 28
Vilnius Totorių g. 4


09:00 – Bank of Lithuania,  Totorių g. 4, Vilnius and Microsoft Teams channel



9:30-9:45 Opening Remarks (main hall)

Aurelija Proškutė (Bank of Lithuania)


9:45-11:15 Session A1: Government Intervention (main hall). Facilitator: Aurelija Proškutė (Bank of Lithuania)

  • Progressing Towards Efficiency: The Role for Labor Tax Progression in Reforming Social Security (Slides (888.9 KB download icon)) 
  • Joanna Tyrowicz (University of Regensburg, FAME|GRAPE, and IZA), Krzysztof Makarski (FAME|GRAPE and Warsaw School of Economics), and Oliwia Komada (FAME|GRAPE)


  • Government Debt Management and Inflation with Real and Nominal Bonds (Slides (581.6 KB download icon))
  • Vytautas Valaitis (University of Surrey), Lukas Schmid (University of Southern California and CEPR), and Alessandro T. Villa (Federal Reserve Bank of CHicago)


  • Macroprudential Intervention and (Un)employed Households
  • Ali Elminejad (Charles University in Prague)


9:45-11:15 Session A2: Alternative Labor (hybrid, room 303). Facilitator: Linas Tarasonis (Bank of Lithuania)

  • Automation in an Open, Catching-Up Economy: Aggregate and Microeconometric Evidence
  • Amaresh K Tiwari (University of Tartu)


  • Do Alternative Work Arrangements Substitute Standard Employment? Evidence from Worker-Level Data
  • (Remote) Filippo Passerini (Catholic University of Milan) and Bernardo Fanfani (University of Turin)


  • Digital Capacity and Employment Outcomes: Microdata Evidence from Pre- and Post-COVID-19 Europe (Slides (1.6 MB download icon))
  • Kadri Männasoo (Tallinn University of Technology), Jon Kristian Pareliussen (OECD), and Artjom Saia (Tallinn University of Technology)


11:30-12:30 Special session 1: Strategy Lithuania 2050 (main hall). Facilitator: Justinas Mickus (Strata)

  • Major Future Economic Challenges
  • Linas Tarasonis (Bank of Lithuania)


13:45-15:45 Session B1. Market and Real Efficiency (hybrid, room 303). Jūratė Jaraitė-Kažukauskė (Vilnius University)

  • Feedback Effects, Market Valuations, and Real Efficiency (Slides (291.9 KB download icon))
  • Junghum Park (Bank of Lithuania and Vilnius University)


  • Threshold Implementation with Refund Bonuses in Decentralized Financial Markets
  • Robertas Zubrickas (University of Bath and Vilnius University), Timothy Cason (Purdue University), and Alexander Tabarrok (George Mason University)


  • Behavioral Interventions and Market Efficiency: The Case of a Volatile Retail Electricity Market
  • (Remote) Rimvydas Baltaduonis (Gettysburg College), Jūratė Jaraitė (Vilnius University), and Andrius Kažukauskas (Vilnius University)


  • The Evolution of ECB Communication Sentiments: How They Relate to Economic Environment and Financial Markets?
  • Rokas Kaminskas (Bank of Lithuania and ISM University of Management and Economics) and Linas Jurkšas (Bank of Lithuania and Vilnius University)


13:45-15:45 Session B2. Gaining and Losing Welfare (main hall). Facilitator: Alminas Žaldokas (Hong Kong University of Science and Technology)

  • Asymmetry Facilitates Wealth Creation in a Dynamic Investment Game
  • Aidas Masiliūnas (University of Sheffield), Alessandro Del Ponte (University of Alabama), and Noah Lim (National University of Singapore)


  • Kamikazes in Public Procurement
  • Alminas Žaldokas (Hong Kong University of Science and Technology) and Dimas Fazio (National University of Singapore)


  • Striking a Bargain: Narrative Identification of Wage Bargaining Shocks
  • Žymantas Budrys (European University Institute), Mario Porqueddu (European Central Bank and Bank of Italy), and Andrej Sokol (Bloomberg LP and Centre for Macroeconomics)


  • A Broken Eastern Promise? Realized Dynamic Effect of Retrofits on Energy Consumption in Soviet-era Multi-Apartment Buildings
  • Andrius Kažukauskas (Vilnius University) and Xiaoying Li (Södertörn University)


16:15-17:45 Special Session 2: Global Shocks and Micro Adjustments (hybrid, room 303). Facilitator: Povilas Lastauskas (Queen Mary University of London)

  • R&D Efficiency and Business Sector Spending in European Regions: Conditional Efficiency Approach
  • Heili Hein (Tallinn University of Technology)


  • Firm Survival and Growth in a Crisis: Ownership Structure, Access to Finance, and Public Policies (Slides (314.1 KB download icon))
  • (Remote) Jānis Bērziņš (BI Norwegian Business School), Himal Gautam (BI Norwegian Business School), Salvatore Miglietta (BI Norwegian Business School), and Bogdan Stacescu (BI Norwegian Business School)


  • Joining and Exiting the Value Chain of Foreign Multinationals and Performance of Their Local Suppliers: Evidence from Inter-firm Transaction Data
  • (Remote) Priit Vahter (University of Tartu) and Jaan Masso (University of Tartu)


  • Adjusting to Economic Sanctions
  • Aurelija Proškutė (Bank of Lithuania and Vilnius University), Povilas Lastauskas (Queen Mary University of London), and Alminas Žaldokas (Hong Kong University of Science and Technology)
Last update: 09-01-2023