Bank of Lithuania Working Paper Series

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Bank of Lithuania Gedimino pr. 6, LT-01103 Vilnius, Lithuania.
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73: Banking regulation and collateral screening in a model of information asymmetry

Benjamin Hemingway

72: Statutory, Effective and Optimal Net Tax Schedules in Lithuania

Nerijus Černiauskas and Alain Jousten

71: Changes in income inequality in Lithuania: the role of policy, labour market structure, returns and demographics

Nerijus Černiauskas, Denisa Sologon, Cathal O’Donoghue and Linas Tarasonis

70: Who did it? A European Detective Story. Was it Real, Financial, Monetary and/or Institutional: Tracking Growth in the Euro Area with an Atheoretical Tool

Mariarosaria Comunale and Francesco Mongelli

69: Mortgage Foreclosure Risk After the Great Recession

Egle Jakucionyte and Swapnil Singh

68: Employment and Wages over the Business Cycle in Worker-Owned Firms: Evidence from Spain

Jose Garcia-Louzao

67: More Gray, More Volatile? Aging and (Optimal) Monetary Policy

Dániel Baksa and Zsuzsa Munkacsi

66: Does It Matter When Labor Market Reforms Are Implemented? The Role of the Monetary Policy Environment

Povilas Lastauskas and Julius Stakenas

65: Direct and Network Effects of Idiosyncratic TFP Shocks

Kristina Barauskaite (Griskeviciene) and Anh Nguyen

64: Loss of a lending relationship: shock or relief?

Karolis Liaudinskas and Kristina Grigaite

63: Intersectoral Network-Based Channel of Aggregate TFP Shocks

Kristina Barauskaite (Griskeviciene) and Anh Nguyen

62: An empirical investigation of the relationship between trade and structural change

Mariarosaria Comunale and Giulia Felice

61: Does monetary policy affect income inequality in the euro area?

Anna Samarina and Anh Nguyen

60: Euro Area Government Bond Yield and Liquidity Dependence during different Monetary Policy Accommodation Phases

Linas Jurksas and Hector Carcel

59: Partially heterogeneous tests for Granger non-causality in panel data

Arturas Juodis and Yiannis Karavias

58: The changing nature of gender selection into employment over the Great Recession

Juan Dolado, Cecilia Garcia-Penalosa and Linas Tarasonis

57: Monetary policy, trade, and endogenous growth under different international financial market structures

Michael Donadelli, Patrick Grüning and Aurelija Proskute

56: Slicing up inflation: analysis and forecasting of Lithuanian inflation components

Julius Stakenas

55: How Much Do Households Really Know About Their Future Income?

Swapnil Singh and Christian A. Stoltenbergz

54: Public insurance of married versus single households in the US: trends and welfare consequences

Swapnil Singh

53: Bank risk-taking and misconduct

Ieva Sakalauskaite

52: Bank credit and money creation in a DSGE model of a small open economy

Tomas Ramanauskas and Jaunius Karmelavicius

51: A century of gaps

Mihnea Constantinescu and Anh Nguyen

50: Term Premium and Quantitative Easing in a Fractionally Cointegrated Yield Curve

Mirko Abbritti, Hector Carcel, Luis Gil-Alana and Antonio Moreno

49: The behavioral economics of currency unions: Economic integration and monetary policy

Akvile Bertasiute, Domenico Massaro and Matthias Weber

48: R&D, growth, and macroprudential policy in an economy undergoing boom-bust cycles

Claudio Battiati

47: Technology Trade with Asymmetric Tax Regimes and Heterogeneous Labor Markets: Implications for Macro Quantities and Asset Prices

Giuliano Curatola, Michael Donadelli and Patrick Grüning

46: Optimal Long-Run Inflation and the Informal Economy

Claudio Cesaroni

45: The Knotty Interplay Between Credit and Housing

Mihnea Constantinescu and Povilas Lastauskas

44: Personal Bankruptcy, Bank Portfolio Choice and the Macroeconomy

Egle Jakucionyte

43: Innovation Dynamics and Fiscal Policy: Implications for Growth, Asset Prices, and Welfare

Michael Donadelli and Patrick Gruning

42: Monetary Policy under Behavioral Expectations: Theory and Experiment

Cars Hommes, Domenico Massaro and Matthias Weber

41: U.K. Monetary Policy under Inflation Targeting

Anh Nguyen

40: A panel VAR analysis of macro-financial imbalances in the EU

Mariarosaria Comunale

39: Spatial Nexus in Crime and Unemployement in Times of Crisis

Povilas Lastauskas and Eirini Tatsi

38: Exchange Rate Pass-Through in the Euro Area

Mariarosaria Comunale and Davor Kunovac

37: Evolution of Bilateral Capital Flows to Developing Countries at Intensive and Extensive Margins

Juliana Araujo, Povilas Lastauskas and Chris Papageorgiou

36: Investment-Specific Shocks, Business Cycles, and Asset Prices

Giuliano Curatola, Michael Donadelli, Patrick Gruning and Christoph Meinerding

35: The Pass-Through to Consumer Prices in CIS Economies: the Role of Exchange Rates, Commodities and Other Common Factors

Mariarosaria Comunale and Heli Simola

34: Lithuania in the Euro Area: Monetary Transmission and Macroprudential Policies

Margarita Rubio and Mariarosaria Comunale

33: Labour Market Institutions in Open Economy

Povilas Lastauskas and Julius Stakenas

32: Aging, (Pension) Reforms and the Shadow Economy in Southern Europe

Daniel Baksa and Zsuzsa Munkacsi

31: A Detailed Description of OGRE, the OLG Model

Daniel Baksa and Zsuzsa Munkacsi

28: Labour Shares, Fertility and Longevity in an OLG model

Igor Fedotenkov

27: Disentangling the Monetary Policy Stance

Filippo Gori

26: Dutch Disease, Real Effective Exchange Rate Misalignments and their effect on GDP growth in the EU

Mariarosaria Comunale

24: Monetary policy transmission: the case of Lithuania

Julius Stakenas and Rasa Stasiukynaite

23: Population ageing and inflation with endogenous money creation

Igor Fedotenkov

22: Determinants of Credit Constrained Firms: Evidence from Central and Eastern Europe Region

Apostolos Thomadakis

21: Global Perspective on Structural Labour Market Reforms in Europe

Povilas Lastauskas and Julius Stakenas

20: Current Account and Reer Misalignments in Central Eastern EU Countries: an Update Using the Macroeconomic Balance Approach

Mariarosaria Comunale

19: Is there a competition-stability trade-off in European banking?

Aurélien Leroy and Yannick Lucotte

18: Long-run determinants and misalignments of the real effective exchange rate in the EU

Mariarosaria Comunale

17: Forecasting Lithuanian Inflation

Julius Stakenas

15: Optimal asymmetric taxation in a two-sector model with population ageing

Igor Fedotenkov

14: New Keynesian Phillips Curve in Lithuania

Ernestas Virbickas

13: Generating short-term forecasts of the Lithuanian GDP using factor models

Julius Stakenas

12: Profit Dynamics across the Largest Euro Area countries and Sectors

Laurent Maurin, Moreno Roma and Igor Vetlov

11: Price Setting in Lithuania: More Evidence from the Survey of Firms

Ernestas Virbickas

10: What Caused the Recent Boom-And-Bust Cycle in Lithuania? Evidence from a Macromodel with the Financial Sector

Tomas Ramanauskas

9: Potential Output in DSGE Models

Igor Vetlov, Tibor Hlédik, Magnus Jonsson, Henrik Kucsera and Massimiliano Pisani

8: The Implementation of Scenarios Using DSGE Models

Igor Vetlov, Ricardo Félix, Laure Frey, Tibor Hlédik, Zoltán Jakab, Niki Papadopoulou, Lukas Reiss and Martin Schneider

7: Wage and Price Setting Behaviour of Lithuanian Firms

Ernestas Virbickas

6: Building an Artificial Stock Market Populated by Reinforcement-Learning Agents

Tomas Ramanauskas and Aleksandras Rutkauskas

5: Estimation of the Euro Area Output Gap Using the NAWM

Günter Coenen, Frank Smets and Igor Vetlov

4: The Effects of Fiscal Instruments on the Economy of Lithuania

Sigitas Karpavicius

3: Agent-Based Financial Modelling: A Promising Alternative to the Standard Representative-Agent Approach

Tomas Ramanauskas

2: Personal Income Tax Reform in Lithuania: Macroeconomic and Welfare Implications

Sigitas Karpavicius and Igor Vetlov

1: Short-Term Forecasting of GDP Using Large Monthly Datasets: A Pseudo Real-Time Forecast Evaluation Exercise

Gerhard Rünstler, Karim Barhoumi, Szilard Benk, Riccardo Cristadoro, Ard Reijer, Audrone Jakaitiene, P. Jelonek, António Rua, K. Ruth and C. Van Nieuwenhuyze