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.


(2018) The Knotty Interplay Between Credit and Housing, Mihnea Constantinescu and Povilas Lastauskas. The Quarterly Review of Economics and Finance, Volume 70, November 2018, Pages 241-266.

(2018) An Experimental Study of Bond Market Pricing, Matthias Weber, John Duffy and Arthur Schram. Journal of Finance, Volume 73, Issue 4, August 2018, Pages 1857-1892.

(2018) The Effects of Listing Authors in Alphabetical Order: A survey of the Empirical Evidence, Matthias Weber. Research Evaluation, Volume 27, Issue 3, 1 July 2018, Pages 238–245.

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

(2018) Heterogeneity in the internationalization of R&D: Implications for anomalies in finance and macroeconomics, Patrick Grüning. Finance Research Letters, Vol 26, September 2018, pp. 132-138.

(2018) The pass-through to consumer prices in CIS economies: The role of exchange rates, commodities and other common factors, Mariarosaria Comunale and Heli Simola. Research in International Business and Finance, Elsevier, vol. 44(C), pages 186-217.

(2018) Current account and REER misalignments in Central Eastern EU Countries: an update using the Macroeconomic Balance approach, Mariarosaria Comunale. Economic Systems,Vol 42, Issue 3, September 2018, Pages 414-436.

(2018)  Optimal Monetary Policy under Sectoral Interconnections, Swapnil Singh and Roel Beetsma. Netherlands Economic Review (De Economist).

(2018) Openness and Structural Labour Market Reforms: Ex-ante Counterfactuals, Povilas Lastauskas and Julius Stakėnas. Contemporary Economic Policy, Vol 36, Issue 4, October 2018, p. 723-757.

(2018) Structural Labour Market Reforms in the EU-15: Single-country vs. Coordinated Counterfactuals, Povilas Lastauskas and 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, 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, Matthias Weber. Journal of Economic Behavior & Organization.

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

(2017) International Endogenous Growth, Macro Anomalies, and Asset Prices, 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, Matthias Weber and Arthur Schram. The Economic Journal, Vol 127, Issue 604, p. 2187-2215.

(2016) Heterogeneous Innovation, Firm Creation and Destruction, and Asset Prices, 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, Michael Donadelli and Patrick Grüning. Economics Letters, Vol 143, p. 32–37.

(2016) Two-Tier Voting: Measuring Inequality and Specifying the Inverse Power Problem, 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