Program


Day 1 (June 11th)

 


8:30-9:00 Registration and Welcome Coffee

 


9:00-9:15 Welcome and Opening Remarks (Conference Hall)

 


9:15-11:00 Session A1: Labor Theory (TBC, chair: Mihails Hazans, University of Latvia, IZA, and GLO)


The Inherited Inequality: How Demographic Aging and Pension Reforms Can Change the Intergenerational Transmission of Wealth

Justina Klimaviciute (University of Liège), Harun Onder (The World Bank) and Pierre Pestieau (University of Liège, Université Catholique de Louvain and PSE)

Discussant: Peter Huber (Austrian Institute of Economic Research (WIFO) and Mendel University, Brno)


Conditional Wage Subsidy

Robertas Zubrickas (University of Bath)

Discussant: Liis Roosaar (University of Tartu)


Globalization, Welfare, and the Attitudes toward Higher Education

Jana Hromcová (Universitat Autònoma de Barcelona) and Pablo Agnese (UIC Barcelona)

Discussant: Robertas Zubrickas (University of Bath)


9:15-11:00 Session A2: Household Finance (TBC, chair: Nicolas Gavoille, Stockholm School of Economics in Riga)


Public Insurance of Married Versus Single Households in the US: Trends and Welfare Consequences

Swapnil Singh (Bank of Lithuania and Kaunas University of Technology)

Discussant: Nicolas Gavoille (Stockholm School of Economics in Riga)


Household Financial Risk Tolerance in Europe

Nora Marija Laurinaitytė (SAFE and Goethe University)

Discussant: Nerijus Černiauskas (Bank of Lithuania and Vilnius University)


Stress Tests of the Household Sector Using Microdata from Survey and Administrative Sources

Tairi Rõõm (Bank of Estonia) and Jaanika Meriküll (Bank of Estonia and University of Tartu)

Discussant: Matteo Ruzzante (IMF)


9:15-11:00 Session A3: Macro Spillovers (TBC, chair: Mihnea Constantinescu, Bank of Lithuania)


Network-based Macro Fluctuations: Evidence from Lithuania

Kristina Griškevičienė (Bank of Lithuania and ISM University of Management and Economics) and Mihnea Constantinescu (Bank of Lithuania)

Discussant: Soroosh Siavash (Bank of Lithuania and Kaunas University of Technology)


Spillovers from Euro Area Monetary Policy: A Focus on Emerging Europe

Ludmila Fadejeva (Bank of Latvia), Soňa Benecká (Czech National Bank) and Martin Feldkircher  Oesterreichische Nationalbank (OeNB))

Discussant: Aurelija Proškutė (Bank of Lithuania)


Housing Market Shocks in Italy: A GVAR Approach

Fabio Parla (University of Palermo) and Andrea Cipollini (University of Palermo)

Discussant: Mihnea Constantinescu (Bank of Lithuania)

 


11:10-12:10 Keynote Speech (Conference Hall)

Hashem Pesaran (University of Southern California and University of Cambridge)

 


12:10-14:00 Poster Session and Lunch Break

Gaygysyz Ashyrov (University of Tartu) Foreign Owned Firms in Corrupt Environments: Effects on Decision to Invest and Firm Performance

Andrius Buteikis (Vilnius University) Application of copula-based BINAR models in loan modelling

Nerijus Černiauskas (Bank of Lithuania and Vilnius University) Decomposing wealth of Lithuania's households

Giedrė Dzemydaitė (Vilnius University) Regional specialization: trends in the European Union regions

Patrick Grüning (Bank of Lithuania and Vilnius University) Global Temperature, R&D Expenditure, and Growth

Linas Jurkšas (Bank of Lithuania) An Intra-day Study of Illiquidity Spill-overs in Euro Area Sovereign Bond Markets

Pijus Krūminas (ISM University of Management and Economics) Public R&D under different electoral rules: evidence from OECD countries

Ieva Mikaliūnaitė (University of Palermo) How important are GSI banks for the financial distress in the Eurozone? An analysis based on MIDAS VAR

Kaire Põder (Tallinn University of Technology) Discrimination or explained differences: individual and school level effects explaining achievement gap in Russian schools of Estonia and Latvia

Nicolas Reigl (Eesti Pank) Evolution and heterogeneity of credit procyclicality in Central and Eastern Europe

Soroosh Soofi-Siavash (Bank of Lithuania) Dominant U.S. Manufacturing Sectors: A Factor Model Analysis

 


14:00-15:45 Session B1: CSR (TBC, chair: Egle Karmaziene, University of Groningen)


Corporate Governance View on CSR Reporting in Listed Banks

Triinu Tapver (Tallinn University of Technology), Laivi Laidroo (Tallinn University of Technology) and Natalja Gurvitš (Tallinn University of Technology)

Discussant: Ieva Sakalauskaitė (University of Amsterdam)


Investment and Agency Motives of Corporate Philanthropy: Evidence from Anti-Dumping Initiations

Swarnodeep Homroy (University of Groningen), Shantanu Banerjee (Lancaster University) and Aurélie Slechten (Lancaster University)

Discussant: Janis Berzins (BI Norwegian Business School)


Labor Unions and Non-Shareholding Stakeholders

Dalia Marciukaityte (Illinois State University) and Mine Ertugrul (University of Massachusetts Boston)

Discussant: Swarnodeep Homroy (University of Groningen)


14:00-15:45 Session B2: Methods (TBC, chair: Vaidotas Zemlys, Vilnius University)


Machine Learning Projection Methods for Macro-Finance Models

Vytautas Valaitis (Duke University) and Alessandro Villa (Duke University)

Discussant: Swapnil Singh (Bank of Lithuania and Kaunas University of Technology)


Instrumental Variable Estimation of Dynamic Linear Panel Data Models with Defactored Regressors and a Multifactor Error Structure

Milda Norkutė (Lund University), Vasilis Sarafidis (Monash University) and Takashi Yamagata (University of York)

Discussant: Artūras Juodis (University of Groningen)


Panel Data Binary Response Model in a Triangular System

Amaresh K. Tiwari (University of Tartu)

Discussant: Milda Norkutė (Lund University)


14:00-15:45 Session B3: Empirical Labor (TBC, chair: Linas Tarasonis, Bank of Lithuania and Vilnius University)


The Nativity Gap in Financial Decisions: Evidence from Italy

Anzelika Zaiceva (University of Modena and Reggio Emilia and IZA), Graziella Bertocchi (University of Modena and Reggio Emilia) and Marianna Brunetti (University of Roma Tor Vergata)

Discussant: Nora Marija Laurinaitytė (SAFE and Goethe University)


Relationships between the Age, Wage and Productivity of Employees

Liis Roosaar (University of Tartu), Jaan Masso (University of Tartu) and Urmas Varblane (University of Tartu)

Discussant: Jiyuan Wang (University of Groningen)


What Kind of Foreign Experience Boosts Returnees’ Earnings? Evidence from Latvia

Mihails Hazans (University of Latvia, IZA, and GLO)

Discussant: Gaygysyz Ashyrov (University of Tartu)

 


15:45-16:00 Break

 


16:00-17:10 Session C1: Nowcasting (TBC, chair: Konstantins Benkovskis, Stockholm School of Economics in Riga and Bank of Latvia)


Google Trends and Exchange Rate Movements: Much Cry and Little Wool?

Svatopluk Kapounek (Mendel University in Brno) and Zuzana Kučerová (VŠB-Technical University of Ostrava)

Discussant: Egle Karmaziene (University of Groningen)


Assessing Nowcast Accuracy of US GDP Growth in Real Time: The Role of Booms and Busts

Boriss Siliverstovs (Bank of Latvia)

Discussant: Nicolas Reigl (Bank of Estonia)


16:00-17:10 Session C2: Political Economy (TBC, chair: Valdonė Darškuvienė, ISM University of Management and Economics)


Capital Controls and Electoral Cycles

Nicolas Gavoille (Stockholm School of Economics in Riga) and Katharina Hofer (Swiss Institute for Empirical Economic Research (SEW-HSG))

Discussant: Vincentas Vobolevičius (ISM University of Management and Economics)


Homeownership, Political Participation, and Social Capital in Post-Communist Countries and Western Europe

Peter Huber (Austrian Institute of Economic Research (WIFO) and Mendel University, Brno) and Josef Montag (International School of Economics and Kazakh-British Technical University)

Discussant: Pijus Krūminas (ISM University of Management and Economics)


16:00-17:10 Session C3: Currency Unions (TBC, chair: Swapnil Singh, Bank of Lithuania)


Business Cycle Synchronisation in a Currency Union: Taking Stock of the Evidence

Jarko Fidrmuc (ZU Friedrichshafen and Vilnius University), Nauro F. Campos (Brunel University London) and Iikka Korhonen (Institute for Economies in Transition and Bank of Finland)

Discussant: Fabio Parla (University of Palermo)


The Behavioral Economics of Currency Unions: Monetary Policy and Economic Integration

Matthias Weber (Bank of Lithuania and Vilnius University), Akvile Bertasiute (National Audit Office of Lithuania) and Domenico Massaro (Universita Cattolica del Sacro Cuore and Complexity Lab in Economics)

Discussant: Simas Kučinskas (University of Amsterdam)

 


17:15-18:00 Inaugural General Assembly of the Baltic Economic Association

 


19:00 Dinner (By invitation only)

 


Day 2 (June 12th)

 


9:00-11:40 Session D1: Prices and Markets (TBC, chair: Jura Liaukonyte, Cornell University)


The Impact of Process Innovation on Prices: Evidence from Automated Fuel Retailing in the Netherlands

Tadas Bruzikas (University of Groningen) and Adriaan R. Soetevent (University of Groningen)

Discussant: Jura Liaukonyte (Cornell University)


Learning in Contests with Payoff Risk and Foregone Payoff Information

Aidas Masiliūnas (Aix-Marseille University)

Discussant: Agne Kajackaite (WZB Berlin)


10:10-10:30 Coffee Break


Price Dispersion in Online Betting Markets

Oleksandr Talavera (Swansea University), Mo Tian (Swansea University) and Huasheng Xiang (Swansea University)

Discussant: Julian Jamison (The World Bank and University of Exeter)


Strategic Durability with Sharing Markets

Thomas A. Weber (Ecole Polytechnique Fédérale de Lausanne) and Maryam Razeghian (Ecole Polytechnique Fédérale de Lausanne)

Discussant: Deniz Okat (HKUST)


9:00-11:40 Session D2: Empirical Trade (TBC, chair: Tairi Rõõm, Bank of Estonia)


Export, Business Environment and Innovation: Evidence from Central and Eastern Europe

Kadri Männasoo (Tallinn University of Technology) and Raul Ruubel (Tallinn University of Technology)

Discussant: Jaan Masso (University of Tartu)


Export and Productivity in Global Value Chains: Comparative Evidence from Latvia and Estonia

Jaan Masso (University of Tartu), Konstantins Benkovskis (Bank of Latvia and Stockholm School of Economics in Riga), Olegs Tkacevs (Bank of Latvia), Priit Vahter (University of Tartu) and Naomitsu Yashiro (Organization for Economic Co-Operation and Development (OECD))

Discussant: Jaanika Meriküll (Bank of Estonia and University of Tartu)


10:10-10:30 Coffee Break


The Effect of Euro Adoption on Firm-level Export

Jaanika Meriküll (Bank of Estonia and University of Tartu) and Tibor Lalinsky (National Bank of Slovakia)

Discussant: Kadri Männasoo (Tallinn University of Technology)


Welfare Gains from the Variety Growth

d’Artis Kancs (European Commission DG Joint Research Centre and University of Leuven) and Damiaan Persyn (University of Leuven and IPTS, European commission)

Discussant: Dmitry Kulikov (Bank of Estonia)


9:00-11:40 Session D3: Intermediaries and the Economy (TBC, chair: Robertas Zubrickas, University of Bath)


Bank Credit and Money Creation in a Simple DSGE Model

Jaunius Karmelavičius (Bank of Lithuania) and Tomas Ramanauskas (Bank of Lithuania)

Discussant: Vytautas Valaitis (Duke University)


Risk Weighting, Private Lending and Macroeconomic Dynamics

Marcus Jüppner (Deutsche Bundesbank and Goethe University Frankfurt), Michael Donadelli (Goethe University Frankfurt) and Lorenzo Prosperi (Goethe University Frankfurt)

Discussant: Phillippe Mueller (University of Warwick)


10:10-10:30 Coffee Break


Financial Networks and the Real Economy

Deniz Okat (HKUST) and John Nash (HKUST)

Discussant: Michael Weber (University of Chicago)


Panel Data Forecasting Models for Non-Performing Loans in the EU Countries

Lenno Uuskula (Bank of Estonia and University of Tartu) and Karsten Staehr (Tallinn University of Technology)

Discussant: Jaunius Karmelavičius (Bank of Lithuania)

 


11:45-12:30 Vladas Jurgutis Award and Award for Dissertation in the Field of Economics (Conference Hall)

Agne Kajackaitė (WZB Berlin)

Artūras Juodis (University of Groningen)

 


12:30-13:30 Lunch Break

 


13:30-15:15 Session E1: Fiscal Policy (TBC, chair: Matthias Weber, Bank of Lithuania and Vilnius University)


Financial Crises, Macroeconomic Shocks, and the Government Balance Sheet: A Panel Analysis

Matteo Ruzzante (IMF)

Discussant: Guillermo Hausmann (Vilnius University)


The Effect of Unconventional Fiscal Policy on Consumption Expenditure

Michael Weber (University of Chicago), Francesco D’Acunto (University of California at Berkeley) and Daniel Hoang (Karlsruhe Institute of Technology)

Discussant: Nina Boyarchenko (Federal Reserve Bank of New York)


What Makes Fiscal Rules Output Stabilising?

Oļegs Tkačevs (Bank of Latvia), Wolf Heinrich Reuter (Wolf Heinrich Reuter and Vienna University of Economics & Business) and Kārlis Vilerts (Bank of Latvia)

Discussant: Marcus Jüppner (Deutsche Bundesbank and Goethe University Frankfurt)


13:30-15:15 Session E2: Health and Early Development (TBC, chair: Kaire Põder, Estonian Business School)


Motivating Bureaucrats Through Social Recognition: A Field Experiment in the Health Clinics across Two Nigerian States

Julian C. Jamison (The World Bank and University of Exeter), Varun Gauri (The World Bank), Nina Mazar (Boston University) and Owen Ozier (The World Bank)

Discussant: Kaire Põder (Estonian Business School)


Effects of Maternal Education on Early Non-Monetary Investments in Child Development

Emine Kübra Usta (University of Bologna)

Discussant: Linas Tarasonis (Vilnius University and Bank of Lithuania)


Under-Investment of Human Capital, Earnings and Old-Age Transfers

Jiyuan Wang (University of Groningen)

Discussant: Justina Klimaviciute (University of Liège)


13:30-15:50 Session E3: Corporate Finance (TBC, chair: Janis Berzins, BI Norwegian Business School)


Illiquid Stockholders and Real Firm Effects: The Personal Wealth Tax and Financial Constraints

Bogdan Stacescu (BI Norwegian Business School), Janis Berzins (BI Norwegian Business School) and Øyvind Bøhren (BI Norwegian Business School)

Discussant: Thomas Moeller (Texas Christian University)


Intangible Assets and Capital Structure

Thomas Moeller (Texas Christian University), Steve C. Lim (Texas Christian University) and Antonio J. Macias (Baylor University)

Discussant: Alminas Žaldokas (HKUST)


The Importance of Being Prudent: Leverage and the Informational Content of Dividends

Simas Kučinskas (University of Amsterdam)

Discussant: Bogdan Stacescu (BI Norwegian Business School)


Background Noise? TV Advertising Affects Real Time Investor Behavior

Jura Liaukonyte (Cornell University) and Alminas Žaldokas (HKUST)

Discussant: Dalia Marciukaityte (Illinois State University)


 


Program Co-Chairs

Linas Tarasonis (Vilnius University and Bank of Lithuania) and Alminas Žaldokas (HKUST)


Program Committee

Audinga Baltrūnaitė (Bank of Italy), Konstantins Benkovskis (Stockholm School of Economics in Riga and Bank of Latvia), Mihnea Constantinescu (Bank of Lithuania), Daiva Dumčiuvienė (Kaunas University of Technology), Nicolas Gavoille (Stockholm School of Economics in Riga), Mihails Hazans (University of Latvia), Sigitas Karpavičius (University of Adelaide), Meelis Kitsing (Estonian Business School), Rytis Krušinskas (Kaunas University of Technology), Povilas Lastauskas (CEFER), Jura Liaukonyte (Cornell University), Anders Paalzow (Stockholm School of Economics in Riga), Vaiva Petrikaitė  (Barcelona GSE), Kaire Põder (Estonian Business School), Tairi Rõõm (Bank of Estonia), Karsten Staehr (Tallinn University of Technology), Linas Tarasonis (Vilnius University and Bank of Lithuania), Matthias Weber (Bank of Lithuania and Vilnius University), Robertas Zubrickas (University of Bath), Alminas Žaldokas (HKUST)


Baltic Economic Conference Initiative Group

Konstantins Benkovskis (Stockholm School of Economics in Riga and Bank of Latvia), Mihnea Constantinescu (Bank of Lithuania), Valdonė Darškuvienė (ISM University of Management and Economics), Gundars Davidsons (Bank of Latvia), Kęstutis Duoba (Kaunas University of Technology), Mihails Hazans (University of Latvia), Povilas Lastauskas (CEFER), Jaan Masso (University of Tartu), Anders Paalzow (Stockholm School of Economics in Riga), Kaire Põder (Estonian Business School), Tairi Rõõm (Bank of Estonia), Karsten Staehr (Tallinn University of Technology), Linas Tarasonis (Vilnius University and Bank of Lithuania), Ants-Hannes Viira (Estonian University of Life Sciences)