Bank of Lithuania
Information Monetary Policy Division,Bank of Lithuania Hector Carcel Villanova, PhD
Address Totorių g. 4, 01121 Vilnius, Lithuania
Phone +370 5 2680252
Email [email protected]



Research interests

Primary: Applied Econometrics (Panel Data and Time Series), Monetary Policy, International Finance.

Recent publications

Carcel, H. and L.A. Gil-Alana (2018) A fractional cointegration var analysis of exchange rate dynamics, The North American Journal of Economics and Finance.

Carcel, H. and L.A. Gil-Alana (2018) Ination Analysis in the Central American Monetary Council, Empirical Economics 54, 2, 547-565.

Caporale, G.M., H. Carcel and L.A. Gil-Alana (2018) The EMBI in Latin America: Fractional Integration, Non-Linearities and Breaks, Finance Research Letters 24, 34-41.

Yaya, O.S., L.A. Gil-Alana and H. Carcel (2015) Testing Fractional Persistence and Non-linearities in Natural Gas Markets: An Application of Non-linear Deterministic Terms based on Chebyshev Polynomials in Time, Energy Economics 52, 240-245.

Recent Bank of Lithuania WPs/DPs/OPs:

Term Premium and Quantitative Easing in a Fractionally Cointegrated Yield Curve, Mirko Abbritti, Hector Carcel, Luis Gil-Alana, Antonio Moreno. Bank of Lithuania Working Paper No 50, 2018.

Short biography

2018present Principal Economist, Monetary Policy Division, Bank of Lithuania
20152018 Ph.D. in Economics, University of Navarra (Pamplona, Spain)
2017 Trainee, European Central Bank (Frankfurt am Main, Germany).
2016 Visiting Researcher, University of Copenhagen (Copenhagen, Denmark)
2016 Intern, IMF Fund Internship Program (Washington D.C., USA)
2015 Doctoral Intern, Deutsche Bundesbank (Frankfurt am Main, Germany).
2012–2014 Research Assistant, Navarra Center for International Development (Pamplona, Spain)

Bachellor and Master studies, University of Navarra (Pamplona, Spain).


Last update: 28-06-2021