Bank of Lithuania

Researchers at CEFER and the Applied Macroeconomic Research Division aim to conduct and publish scientific research recognised on international level. Their research papers are featured in peer-reviewed scientific journals, such as Journal of Finance, The Economic Journal, Review of Asset Pricing Studies, Journal of Money, Credit and Banking, Journal of International Money and Finance.


(forthcoming) The Knotty Interplay Between Credit and Housing by Mihnea Constantinescu and Povilas Lastauskas. The Quarterly Review of Economics and Finance.

(forthcoming) Heterogeneity in the Internationalization of R&D: Implications for Anomalies in Finance and Macroeconomics by Patrick Grüning. Finance Research Letters.

(forthcoming) An Experimental Study of Bond Market Pricing by Matthias Weber, John Duffy and Arthur Schram. Journal of Finance

(forthcoming) The Effects of Listing Authors in Alphabetical Order: A survey of the Empirical Evidence by Matthias Weber. Research Evaluation. WP version

(forthcoming) Current account and REER misalignments in Central Eastern EU Countries: an update using the Macroeconomic Balance approach by Mariarosaria Comunale. Economic Systems.

(forthcoming) The pass-through to consumer prices in CIS economies: The role of exchange rates, commodities and other common factors by Mariarosaria Comunale and Heli Simola. Research in International Business and Finance.

(2018) Openness and Structural Labour Market Reforms: Ex-ante Counterfactuals by Povilas Lastauskas and Julius Stakėnas. Contemporary Economic Policy.

(2018) Structural Labour Market Reforms in the EU-15: Single-country vs. Coordinated Counterfactuals by Povilas Lastauskas, Julius Stakėnas. Structural Change and Economic Dynamics, Vol 44, March 2018, p. 88-99

(2017) Racial Discrimination in the US Labor Market: Employment and Wage Differentials by Skill by Linas Tarasonis, Daniel Borowczyk-Martins and Jake Bradley. Labour Economics, Vol 49 (December), p. 106–127.

(2017) Evolution of Bilateral Capital Flows to Developing Countries at Intensive and Extensive Margins by Juliana Araujo, Povilas Lastauskas and Chris Papageorgiou. Journal of Money, Credit, and Banking, Vol 49, Issue 7, p. 1517–1554.

(2017) Choosing the Rules: Preferences over Voting Systems for Assemblies of Representatives by Matthias Weber. Journal of Economic Behavior & Organization.

(2017) Dutch Disease, Real Effective Exchange Rate Misalignments and Their Effect on GDP Growth in the EU by Mariarosaria Comunale. Journal of International Money and Finance, Vol 73, Part B, p. 350–370.

(2017) International Endogenous Growth, Macro Anomalies, and Asset Prices  by Patrick Grüning. Journal of Economic Dynamics and Control, Vol 78, p. 118–148.

(2016) The Non-Equivalence of Labour Market Taxes: A Real-Effort Experiment by Matthias Weber, Arthur Schram. The Economic Journal, Vol 127, Issue 604, p. 2187-2215.

(2016) Heterogeneous Innovation, Firm Creation and Destruction, and Asset Prices by Jan Bena, Lorenzo Garlappi, and Patrick Grüning. Review of Asset Pricing Studies. Vol 6(1), p. 46–87.

(2016) Labor Market Dynamics, Endogenous Growth, and Asset Prices by Michael Donadelli and Patrick Grüning. Economics Letters, Vol 143, p. 32–37.

(2016) Two-Tier Voting: Measuring Inequality and Specifying the Inverse Power Problem by Matthias Weber. Mathematical Social Sciences, Vol 79, p. 40–45.

Working, Occasional and Discussion papers on various topics are published on the Bank of Lithuania website.

The Working Paper Series by Bank of Lithuania employees is published to stimulate discussion and critical comments. All papers within the Series are refereed 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.

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.

The Occasional Paper Series mainly features research conducted by Bank of Lithuania employees that coincides with the main Bank of Lithuania tasks and functions. Occasional papers are meant for the general public, including other economic policy makers, analysts and economists. Papers are published in Lithuanian and English.

Last update: 18-04-2017