Online research seminar

We would like to invite you to the Inaugural Online Research Seminar of the Baltic Economics Association. The seminar series is scheduled to take place once a month with the purpose of developing personal contacts and promoting joint scholarly research and intellectual exchange between economists of the Baltic States.

We are delighted that Alminas Žaldokas (Hong Kong University of Science and Technology), the founding member of the Baltic Economic Association, has kindly agreed to serve as the speaker of the inaugural seminar. Ever since co-founding the Lithuanian Economics Network in 2012, Alminas had a vision of expanding the network to the Baltic region, which eventually took place in 2018. Alminas’ paper, co-authored with a fellow from Latvia, Jānis Bērziņš (BI Norwegian Business School), represents the very idea of the Baltic cooperation.

The seminar will take place on ZOOM. If you wish to attend, simply send an email to

Speaker: Alminas Žaldokas (Hong Kong University of Science and Technology)

Title: Conflicts in Private Family Firms

Co-author: Jānis Bērziņš (BI Norwegian Business School)


Date: 22 May 2020

Time: 10:30 AM Vilnius, Riga, Tallinn

Facilitator: Linas Tarasonis (Vilnius University)

Abstract: We use Norwegian household-level data and full structures of family relationships to understand how succession decisions are made when the family has multiple potential heirs. We argue that the decision on ownership distribution in family firms is related to the potential of future family conflicts, and that such within-family dynamics have implications for firm investment and growth. We identify the causal effect by looking at whether the founder has experienced a divorce or a separation in the distant past. We instrument founder’s divorce with the frequency of divorces in the extended family relationships outside of the nuclear family, which we argue makes founder’s divorce more socially acceptable. Since some family conflicts are inevitable and family heirs might not be able to trade their shares, founders should consider adjusting their inheritance to minimize the possibility of heir feuds and adverse effects on firm growth.


1st Bank of Lithuania Invited Lecture Series, Klaus Adam (University of Oxford)

Bank of Lithuania and its Center for Excellence in Finance and Economic Research (CEFER) are pleased to announce the 1st Invited Lecture Series given by Professor Klaus Adam of the University of Oxford. The lecture’s topic is “Learning and Expectations Formation in Macroeconomics and Finance”. The lecture is intended for early stage researchers and PhD students at an advanced level. The lecture will be followed by a workshop where some of the attendees will get the opportunity to present their working paper.
Details of the lecture and the workshop are as follows:
· Duration of lecture: 12 hours
· Lecture dates: November 27 – 28, 2019
· Workshop date: November 29, 2019

To attend the lecture and the workshop please send your CV and working paper (if you wish to present) to by September 30, 2019. Decisions for acceptance or rejection will be emailed by October 6, 2019. There is no registration fee.

Lectures will cover following several broad topics:
· Deviating from the rational expectations hypothesis: why and how?
· Introduction to the mathematical toolkit for analyzing learning dynamics
· Learning in the real business cycle model
· Learning and stock price volatility
· Stock price volatility and real business cycles

Established in 2015 by the Bank of Lithuania, CEFER is the main research hub in economics and finance in Lithuania. CEFER is part of a network of National Economic Research Organizations along with the leading research institutes across the globe. CEFER is also pivotal in organizing major conferences (Baltic economic conference, joint conferences with CEBRA/CEPR and Bank of Poland, among others), co-establishing Baltic economic association, developing joint Ph.D. courses and administering Bank of Lithuania research awards named after Vladas Jurgutis. CEFER runs regular research seminars and workshops. Learn more at

2nd Baltic Economic Conference

The 2nd Baltic Economic Conference has taken place in Riga, June 10-11, 2019. Many thanks to all the 88 participants! Our guests came from 19 different countries, from the Baltics but also from UK, France, Germany, Italy, Ukraine, Poland, Spain, USA, Hong Kong, … See you next year in Tartu!

Call for Papers – 25th International Panel Data Conference

Call for Papers – 25th International Panel Data Conference

4-5 July, 2019

Vilnius, Lithuania

Bank of Lithuania and Vilnius University invite submissions to the 25th International Panel Data Conference. Keynote speakers are Manuel Arellano (CEMFI), Peter Egger (ETH Zurich), Ivan Fernandez-Val (Boston U) and Bo Honore (Princeton U).

The aim of the conference is to bring together researchers using panel data for their applied and/or theoretical research. We welcome submissions related to all aspects of panel data, including factor models, dynamic models, models of network formation, spatial models and applications to finance, productivity, labor, income inequality, and others.

The conference will commemorate the late Zvi Griliches (1930-1999) and his contributions to economics and econometrics. Manuel Arellano will deliver his keynote talk during the Griliches Memorial Lecture.

Thanks to our sponsors reduced registration fees and a limited amount of scholarships is available for a selected number of graduate students presenting at the conference.

Submit your paper (pdf only) no later than 15th of February, 2019 through For more information about the conference visit

Call for Papers – Baltic Economic Conference

We are happy to invite paper submission for the 2nd Baltic Economic Conference that will take place on June 10-11, 2019 at the Stockholm School of Economics in Riga, Latvia. The Baltic Economic Conference is organized by the Baltic Economic Association, founded by leading economic researchers from the Baltic States to contribute to the development and application of economics as a science in the Baltic States, and to promote joint scholarly research and intellectual exchange among economists.

Deadline for paper submissions: February 28, 2019

Location: Stockholm School of Economics in Riga, Strēlnieku iela 4A, Riga, Latvia

More information here:

The Call for Papers is available here.