Faculty of Economics and Business Administration

Faculty of Economics and Business Administration

Sukurta: 11 May 2022

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Saulėtekio al. 9, bld 2, LT-10222 Vilnius
Tel. 236 6126
E-mail: http://www.evaf.vu.lt

Dean – Prof. Dr Aida Mačerinskienė

 

 

STAFF

108 teachers (incl. 75 holding research degree), 31 research fellows (incl. 23 holding research degree), 42 doctoral students.

DEPARTMENTS OF THE FACULTY

Department of Accounting and Auditing
Department of Business
Department of Economic Informatics
Department of Economic Policy
Department of Finance
Department of Management
Department of Marketing
Department of Quantitative Methods and Modelling
Department of Theoretical Economics
Center for Expertise in Economics

RESEARCH AREAS

The analysis, modeling and management of social and economic development in Lithuania

DOCTORAL DISSERTATIONS MAINTAINED IN 2021

Indrė Radavičienė. The importance of emotional reactions, perceived price fairness and perception of product quality in assessing the impact of price change on the intention to buy.
Sigita Kiršė. The influence of personal characteristics, gratitude and satisfaction on consumers’ intention to spread positive feedback on social media.
Laura Girlevičienė. The impact of state aid for workers with disabilities on their living conditions.
Nerijus Černiauskas. Impact of selected taxes and transfers on income inequality in Lithuania.
Viktorija Dičpinigaitienė. The evaluation of the impact of the stock exchange-traded funds arbitrage activity on the co-movement of equities’ market values changes.
Kristina Zitikytė. Labor market participation of older workers in Lithuania: factors affecting employment in old age.

MAIN CONFERENCES ORGANIZED IN 2021

Vilnius Winter Meeting 2021, Vilnius, Lithuania. The 10th Annual Lithuanian Conference on Economic Research, hosted by the Bank of Lithuania and Vilnius University, virtually, 28 December 2021. https://meeting2021.econ.lt/home

International conference Accounting, Audit, Analysis: Transformation of Science and Business in New Economic Reality, 25–26 November

CEFER/VU/KTU workshop virtually, 17 September 2021, https://sites.google.com/view/workshop2021lt/home
Gender Gaps Conference 2021 (joint with GRAPE): https://grape.org.pl/GGaps2021

MAIN SCIENTIFIC ACHIEVEMENTS IN 2021

Li, W., Liu, E., Baležentis, T., Jin, H., Štreimikienė, D. Association between socioeconomic welfare and depression among older adults: evidence from the China health and retirement longitudinal study. Social Science & Medicine. 2021, 275: 113814. https://doi.org/10.1016/j.socscimed.2021.113814

Černiauskas, N., Sologon, D., O’Donoghue, C., & Tarasonis, L. Income inequality and redistribution in Lithuania: the role of policy, labour market, income and demographics. Review of Income and Wealth. 2021. DOI:10.1111/roiw.12546.

Micro-level responses to socio-economic challenges in the face of global uncertainties. Principal investigator: Dr P. Lastauskas. The project benefits from a €843 310 grant from Iceland, Liechtenstein and Norway through the EEA Grants. Project contract with the Research Council of Lithuania No. S-BMT-21-8 (LT08-2-LMT-K-01-073).


DEPARTMENT OF ACCOUNTING AND AUDITING

Saulėtekio al. 9, bld 2 - 610, LT-10222 Vilnius
Tel. 236 6153
E-mail:
Head – Prof. Dr Rasa Subačienė

STAFF

Professors Emeritus: Dr Habil. V. Lakis, Dr Habil. J. Mackevičius.
Professors: Dr R. Subačienė.
Associate professors: Dr D. Tamulevičienė, Dr K. Senkus, Dr R. Budrionytė.
Assistants: Dr I. Kamarauskienė, Dr D. Vaicekauskas, Dr G. Jurkonienė (Venckevičiūtė).
Lecturers: V. Savickas, E. Kudrešova.
Doctoral students: D. Raziūnienė, A. Masiulevičius, A. Šalienė, D. Bachtijeva.

RESEARCH INTERESTS

Evaluation of the development of the financial accounting in new economic reality, manipulation of accounting information, the future of the profession
The development of financial analysis science and its role in business under economic crisis
Evaluation of the issues of cost accounting and production costing, new approaches of management accounting
Investigation of methodology, procedures, quality of different audit types

RESEARCH PROJECTS CARRIED OUT IN 2021

Projects Supported by University Budget

Researches on Evaluation of the Development of Financial Accounting, Audit Types and System, Development of Management Accounting. Prof. Rasa Subačienė. 2021–2023.

The fourth international scientific conference Accounting, Audit, Analysis: Transformation of Science and Business in New Economic Reality was organised and held on 25–26 November 2021. It included main topics of the transformation of accounting, audit and analysis science and practices in new economic reality supported by the presentations and discussions of the scientists of the department as well as related publications.

Main publications:

Tamulevičienė, D., Mackevičius, J. Išlaidų apskaitos ir produkcijos savikainos kalkuliavimo problemos: retrospektyvus ir perspektyvus kontekstas [The Issues of Cost Accounting and Production Costing: The Retrospective and Perspective Context]. Monograph. Vilnius: Vilnius University Press. 2021, 328 p.

Subačienė, R. (compil.), Tamulevičienė, D. (compil.). Accounting, audit, analysis: transformation of science and business in new economic reality: international scientific conference, 25–26 November 2021. Book of extended abstracts. Vilnius: Vilnius University Press, 133 p. DOI: 10.15388/Transformation-of-science-and-business.2021.

Bachtijeva, D., Tamulevičienė, D. The relationship between the creative accounting and corporate social responsibility: unfair advantage and a threat to the economic well-being. New Challenges in Economic and Business Development – 2021: Post-Crisis Economy, 13th international scientific conference, 14 May 2021, Riga: proceedings. Rīga : University of Latvia, 2021: 44–53.

National Research Projects

European Social Fund. Evaluation of the Strategic Management Accounting Instruments in Lithuanian Companies No 09.3.3-LMT-K-712-22-0182. 01 October 2020–30 April 2021.

The purpose of the activity is to improve the student's scientific qualification by carrying out practical scientific activities, exchange of scientific ideas, promoting the development of scientific communication. The implementation of the measure is managed by the Ministry of Education, Science and Sport of the Republic of Lithuania and the Research Council of Lithuania.

Main publication:

Medeckytė, K., Tamulevičienė, D. Strateginės valdymo apskaitos instrumentų žinomumo ir taikymo Lietuvos įmonėse tyrimas [Research on the awareness and application of strategic management accounting instruments in Lithuanian companies]. Buhalterinės apskaitos teorija ir praktika (Accounting Theory and Practice). Vilnius: Vilnius University Press. 2021, 23. DOI: 10.15388/batp.2020.29.

International Research Projects

Contractual Research

Training courses for Communications Regulatory Authority of the Republic of Lithuania (Lietuvos Respublikos ryšių reguliavimo tarnyba), 12 ac. hours (May 2021) on topics of: Basics of Financial Accounting, R. Budrionytė, Basics of Financial Analysis, K. Senkus, Marginal Profit and Its Role in Management Decisions, D. Tamulevičienė.

MAIN R&D&I (RESEARCH, DEVELOPMENT AND INNOVATION) PARTNERS

National Audit Office of Lithuania (Lithuania)
The Lithuanian Chamber of Auditors (Lithuania)
Wroclaw University of Economics (Poland)
University of Latvia (Latvia)
Rezekne Academy of Technologies (Latvia)

OTHER RESEARCH ACTIVITIES

Prof. V. Lakis –

Prof. R. Subačienė –

Assoc. Prof. D. Tamulevičienė -

  • member of the scientific committee of international scientific conference Accounting, Audit, Analysis: Transformation of Science and Business in New Economic Reality;
  • member of the organisation committee of international scientific conference Accounting, Audit, Analysis: Transformation of Science and Business in New Economic Reality;
  • vice editor of the journal Buhalterinės apskaitos teorija ir praktika (Accounting Theory and Practice), http://www.zurnalai.vu.lt/BATP/about/editorialTeam.

Assoc. Prof. K. Senkus -

  • member of the scientific committee of international conference Accounting, Audit, Analysis: Transformation of Science and Business in New Economic Reality;
  • member of the organisation committee of international conference Accounting, Audit, Analysis: Transformation of Science and Business in New Economic Reality.

Assoc. Prof. R. Budrionytė -

  • member of the organisation committee of international conference Accounting, Audit, Analysis: Transformation of Science and Business in New Economic Reality.

D. Raziūnienė -

  • member of the organisation committee of international conference Accounting, Audit, Analysis: Transformation of Science and Business in New Economic Reality.

BEST REPORTS DELIVERED AT CONFERENCES ABROAD

  • Bachtijeva, Diana; Tamulevičienė, Daiva. The relationship between the creative accounting and corporate social responsibility: unfair advantage and a threat to the economic well-being. New Challenges in Economic and Business Development – 2021: Post-Crisis Economy: 13th international conference, 14 May 2021, Riga, Latvia.

MOST IMPORTANT PARTICIPATION CASES OF RESEARCHERS IN WORKING GROUPS OR COMMISSIONS SET UP BY STATE AUTHORITIES, STATE AND MUNICIPAL INSTITUTIONS, ORGANISATIONS, BUSINESS ENTITIES

  • Rasa Subačienė – deputy Chair of the Sectoral Professional Committee on Financial and Insurance Activities, Accounting, Bookkeeping and Auditing, Real Estate Operations; member of the Audit Quality Committee at The Lithuanian Chamber of Auditors (LCA); member of European Accounting Association; member of Asia-Pacific Management Accounting Association.
  • R. Budrionytė – member of Business Accounting Standards Committee under the Ministry of Finance of Lithuania; member of Commission of the Experts and Assessors of the Auditors’ Qualification Examinations at The Lithuanian Chamber of Auditors.
  • D. Tamulevičienė – member of Asia-Pacific Management Accounting Association.
  • Kamarauskienė – member of the Lithuanian Chamber of Auditors; head of Training Committee of the Lithuanian Chamber of Auditors; member of the Institute of International Auditors; member of Lithuanian Association of Internal Auditors; head of the Internal Audit Committee of the Vilnius University Endowment.
  • D. Raziūnienė – member of Lithuanian Association of Internal Auditors; member of the Institute of Internal Auditor, USA.

MOST IMPORTANT RESEARCH DISSEMINATION ACTIVITIES

  • Publications in the professional weekly newspaper Accounting, Auditing and Tax Issues


DEPARTMENT OF BUSINESS

Saulėtekio al. 9, bld 2 – 517, LT-10222, Vilnius
Tel. 236 6007
E-mail:
Head – Assoc. Prof. Dr Žilvinas Židonis

STAFF

Professors: Dr A. Mačerinskienė, Dr L. Belinskaja.
Associate professors: Dr E. Vaiginienė, Dr A. Fominienė, Dr A. Jaržemskis, Dr A. Ulbinaitė, Dr J. Žemgulienė, Dr E. Rudienė, Dr M. Morkūnas, Dr Ž. Židonis.
Associate professors of practice: Dr P. Nezabitauskas, Dr R. Tamošiūnas, Dr T. Martūnas.
Assistant professor: Dr L. Pilukienė.
Junior assistant professor: G. Baublys.
Lecturers: Dr. K. Šerpytis, D. Liučvaitis, Ž. Jokimčiūtė.
Doctoral students: V. Grigaitienė, V. Bielinė.

RESEARCH INTERESTS

Business process management
Change management
Global value chains
Clustering
Supply chain management
Business creation and entrepreneurship
Offshoring and outsourcing
Service industry management
Business risk management
Intellectual capital
Management learning

RESEARCH PROJECTS CARRIED OUT IN 2021

Projects supported by University Budget

Managerial Learning in Offshoring: the Role of Cognitive Distance. Dr Ž. Židonis.
Project start: the fall of 2021.

By focusing on individual learning effects project aims to explain how offshoring processes impact managerial learning in offshoring host company. In order to capture changes (if any) in management mindsets and understandings we employ the conceptual framework of cognitive distance (CD) perspective. It is widely accepted, that the average CD between managers in offshoring companies, and the diversity of individual cognitions will be greater than that within countries. However, weakly connected life paths of managers from different countries can be a source of value for organization, and cognitive distance provides an opportunity to connect different knowledge domains enhancing learning outcomes in organizations. On the other hand, cognitive distance may also be problematic if it cannot be bridged sufficiently.

National Research Projects

The Development of Block-Based Intercompany Billing System to Speed up Post-Pandemic Recovery of Tourism Services Consumption. Prof. Dr Aida Mačerinskienė. Funded by Lithuanian Research Council, Smart Specialization Program. Grant 01.2.2-LMT-K-718-05-0081.

The aim of the project is to explore possibilities of implementing block-based billing system to promote tourism services consumption after COVID-19 pandemic lock-down. The creation of blockchain as one of FinTech's innovations for cryptographic currencies has increased the efficiency of payment transactions, providing new opportunities and a competitive advantage for citizens and business organizations. The project develops a prototype of a technical solution for a block-based mobile virtual currency payment application, and the prototype is implemented and tested in tourism service company.

International Research Projects

Arqus Research and Innovation.

The Arqus R&I project aims to enhance the research and innovation dimension of the Alliance’s activities and to address current global societal challenges through intensified joint research, characterised by the pursuit of excellence, openness, transparency and effective engagement with society. Assistant Professor Dr. Laura Pilukienė. Expert in WP4.

MAIN R&D&I (RESEARCH, DEVELOPMENT AND INNOVATION) PARTNERS

Enterprise Lithuania (Lithuania)
Invest Lithuania (Lithuania)
State Department of Tourism under the Ministry of Economy (Lithuania)
Aalborg University, Department of Business and Management (Denmark)
Uppsala University, Department of Business Studies (Sweden)
Dalarna University, School of Technology and Business Studies (Sweden)
Romanian Academy, National Institute for Economic Research, Institute for Economic Forecasting, Bucharest (Romania)
National Taipei University of Technology, Department of Business Management, Taipei (Taiwan)

OTHER RESEARCH ACTIVITIES

Prof. L. Belinskaja –

  • member of European Qualifications Framework;
  • Qualifications and Vocational Education and Training Development Centre, Sectoral Professional Committee of Finance and Insurance.

Prof. A. Mačerinskienė –

  • member of the Professional Qualification Committee of Governmental State Department of Tourism under the Ministry of Economy;
  • member of Professional Committee for Trade Sector;
  • member of Organizational Commitee of EuRun-BIS Symposium.

Assoc. Prof. A. Ulbinaitė –

Assoc. Prof. Ž. Židonis –

MOST IMPORTANT RESEARCH DISSEMINATION ACTIVITIES


DEPARTMENT OF ECONOMIC INFORMATICS

Saulėtekio al. 9, bld 2 - 309, LT-10222 Vilnius
Tel. 236 6139
E-mail:
Head – Prof. Dr Rimvydas Skyrius

STAFF

Professors: Dr R. Skyrius, Dr D. Krikščiūnienė (part-time), Dr T. Limba (part-time)
Associate professors: Dr M. Krutinis, Dr T. Petkus (part-time), Dr A. Simanaitis (partnership associate prof.).
Assistant professors: Dr M. Kazimianec, Dr S. Nemitko, Dr G. Rumšas.
Lecturers: J. Lankutis, A. Rykovė, I. Sirtautas, S. Ušurliakienė, T. Makčinskas, A. Gavrilov, A. Gustainienė, J. Česnakauskas.
Doctoral student: J. Valentukevičė.

RESEARCH INTERESTS

Analysis and design of business information infrastructure
Application of information and communication technologies in business and government structures
Business intelligence in contemporary organization: culture, agility, value
Information systems: problems of development and adoption
Research of complex information needs for business activities
Research on issues of advanced informing for decision support and business intelligence
Research on advanced data mining methods and applications

RESEARCH PROJECTS CARRIED OUT IN 2021

Projects Supported by University Budget

Research on the Value Creation by Management Information and Business Intelligence Systems. Prof. R. Skyrius.

The principal direction of the Department’s research efforts is concentrated on the key aspects of informing business users by development and implementation of management information systems (MIS), business intelligence and analytics systems. The focal point of this direction is the key long-term factors of value creation by providing advanced informing functions of business intelligence and analytics to serve complex business information needs. A recent concentration area is the managerial and human factors of satisfying complex business information needs, encompassing business intelligence culture and agility issues.

Main publications:

Skyrius, R. Business Intelligence: A Comprehensive Approach to Information Needs, Technologies and Culture. 2021. Cham, Switzerland: Springer Nature.

Skyrius, R., Krutinis, M., Nemitko, S., Valentukevičė, S., Gulbinovič, A. N., Sanosianaitė, M. Informing Agility in the Context of Organizational Changes. Informing Science. 2021, 24: 19–30.

MAIN R&D&I (RESEARCH, DEVELOPMENT AND INNOVATION) PARTNERS

Informing Science Institute (USA)
IT Summit (Lithuania)
Texas Southern university (USA)
Katowice University of Economics, Poland

OTHER RESEARCH ACTIVITIES

Prof. R. Skyrius –


DEPARTMENT OF ECONOMIC POLICY

Sauletėkio al. 9, bld 2, LT-10222 Vilnius
E-mail:
Head – Assoc. Prof. Dr Giedrė Dzemydaitė

STAFF

Professors: Dr A. Miškinis (since 01 September 2021 part-time).
Associate professors: Dr A. Burinskas, Dr V. Cohen, Dr J. Droždz (part-time), Dr G. Dzemydaitė, Dr A. Laužadytė-Tutlienė, Dr L. Urbšienė.
Assistant professors: Dr B. Šidlauskaitė-Riazanova (part-time), Dr Rima Rubčinskaitė (part-time).
Lecturer: O. M. Vyšniauskaitė (part-time).
Doctoral students: K. Bielskis, I. Jokubaitienė, M. Bureika (from 01 October 2021), T. Burneika (from 01 October 2021), L. Girlevičienė (till 22 June 2021), Ž. Baranauskas (till 30 September 2021).

RESEARCH INTERESTS

Modernisation of the economy and public economic policy
Innovations and investments in the modernisation of economy
European economic integration and synchronization of business cycles
The impact of international relations on economic growth
Regional development in the EU and Lithuania
Competition economics and policy in the EU and Lithuania
Social and labor market policy measures
Monetary and fiscal policy

RESEARCH PROJECTS CARRIED OUT IN 2021

Projects Supported by University Budget

Challenges and Solutions of the European Union and Lithuanian Economy Modernization. Prof. A. Miškinis. Assoc. Prof. G. Dzemydaitė. 2020–2024.

The aim of the Department is to study the economic policy measures of the European Union and Lithuania that affected the further growth of the economy and prosperity. Researchers of the Department presented their research findings in scientific publications and international conferences.

Main publications:

Vaiginienė, E., Paulienė, R., Urbšienė, L. Hidden Champions of Lithuania. In: Hidden champions in dynamically changing societies: critical success factors for market leadership. Braček Lalić A., Purg D. (Eds). 2021, Springer, 239–261. DOI: 10.1007/978-3-030-65451-1_17.

Saraji, M. K., Štreimikienė, D., Laužadytė-Tutlienė, A. A novel Pythogorean fuzzy SWARA-CRITIC-COPRAS method for evaluating the barriers to developing business model innovation for sustainability. Handbook of research on novel practices and current successes in achieving the sustainable development goals. Cristina Raluca Gh. Popescu (Eds.). IGI Global. 2021, 1–31. DOI: 10.4018/978-1-7998-8426-2.

Dzemydaitė, G. The impact of economic specialization on regional economic development in the European Union: insights for formation of smart specialization strategy. Economies. 2021, 9(2): 1–15. DOI: 10.3390/economies9020076.

National Research Projects

Research Council of Lithuania. COVID-19 Challenges and Implications: Modeling the Future Scenario for International Trade and Foreign Direct Investment in Eastern European Countries, No S-MIP-21-28. Research Group – V. Cohen, J. Droždz, A. Burinskas.

The active spread of COVID-19 infection and the resulting containment measures have made it clear that both supply and demand are experiencing shocks and global production networks are being disrupted on an unprecedented scale. Therefore, the project aims to assess the challenges and implications of the COVID-19 pandemic for international trade and foreign direct investment (FDI) in Eastern European countries and to model future scenarios and possible development trends. The study aims to identify indicators of international trade and FDI and their correlations before the COVID-19 pandemic and perform a comparative analysis of Eastern European countries; to determine the impact of COVID-19 on the selected indicators and to assess their interrelationship in Eastern European countries.

Research Council of Lithuania. Changes in the Economic Structure, Efficiency of Economic Sectors and Increasing Productivity. Dr G. Dzemydaitė, Prof. A. Miškinis. 2020–2022.

The aim of the project is to evaluate an efficiency of economic sectors of the EU countries and regions, and to give suggestions for increasing productivity and development of smart specialization strategies.

International Research Projects

European Social Fund. Reassessment of the Optimum Currency Area in the Persistently Heterogeneous European Union (Euro4Europe). Dr S. Kapounek. 2018–2022.

The project aims at reassessing the evolution of business cycle synchronization in Europe from an encompassing point of view. It will analyse the evolution of business cycles at different levels of territorial disaggregation (national and regional), using a wide range of different univariate and multivariate econometric methods for measuring business cycle synchronization. Furthermore, it will use recently developed methods of causal inference to identify the effects of various integration steps and economic developments. In particular, the project will first assess the statistical properties and reliability of several concepts of business cycle synchronization.

Two international events were organized in 2021: 1) International research workshop The Impact of Economic Integration on Regional Business Cycles Synchronization, 7 May 2021, https://www.euro4europe.vu.lt/research-project1/workshops/4th-workshop; 2) International conference Reassessment of the ‘Optimal Currency Area’ theory in the persistently heterogeneous European Union, 9–10 September 2021, online and f2f. https://www.euro4europe.vu.lt/conference/.

Joint Enterprise and University learning (JEUL). Erasmus+. Project coordinator – Siena University (Italy). Partners from 8 universities involved. 2018–2021.

The aim of this project is to establish and develop cooperation among HEI and private sector, to influence the way universities work and enable them to learn from the entrepreneurial nature of companies, develop and use case studies based on the experience of companies. The main deliverables of JEUL project are: a) establishing links between HEI and industry; b) developing and utilising case studies, embedding such teaching methodology in partner countries universities; c) identify skills and knowledge shortages and embed the required skills in the curricula; d) develop two undergraduate modules on the enterprise pathway and a suitable VLE delivery mode.

Promoting and Implementing Training on Entrepreneurship, Innovation and Creativity in Higher Education (PITCH). Knowledge Alliance under the Erasmus+ Program by European Commission. Leading partner - The University of Duisburg-Essen. 2019–2021.

The central focus of the project is the acquisition and validation of competences related to entrepreneurship, creativity and innovation. This is particularly important in view of the fact that these have not yet been thoroughly integrated into European higher education, either in the curricula or in internship programmes. If we perceive “entrepreneurship and initiative” as an overarching “key competence”, as promoted by the Commission in 2006 and updated in the Qualifications Agenda in 2018, the university should introduce it in an overarching modular way and not only in specific fields of study such as economics.

DEveloping DAta Literacy courses for University Students (DEDALUS). Knowledge Alliance under the Erasmus+ Program by European Commission. Leading partner: Istituto per le Tecnologie Didattiche (ITD). 2019–2021.

DEDALUS will develop and pilot an approach to tackle the data-driven competence issues based on a long-term partnership of educational partners who have either worked in digital literacy and digital education projects or on competence oriented learning and validation of non-formal and informal learning. On the basis of a sound stocktaking on successful approaches on how to include data literacy in university programmes, it will set up a framework of competences on data literacy, taking in due consideration also the demand of the business sector.

Data Literacy at the Interface of Higher Education and Business (DATALIT). Knowledge Alliance under the Erasmus+ Program by European Commission. Leading partner: Istituto per le Tecnologie Didattiche (ITD). 2020–021.

A joint research project to spread Data Literacy at the interface of higher education and business. It is aimed to lay the ground for the integration of data literacy as transversal topic in potentially all university courses, by identifying and developing common syllabus and innovative teaching and learning approaches. Data Literate project has a well-defined and very specific mission to capacitate educators in Digital Data Literacy (DDL), through continuous professional development (CPD) initiatives and hands-on, collaborative approach which will allow not just teachers, but also school leaders and students to increase their Digital Competences, in particular those related with digital data literacy for education. By actively contributing to teachers’ high-quality CPD in the field DDL and through a holistic, collaborative approach which brings together school communities, as well as training & data literacy experts, the project will not only tackle specific European education challenges bought up by COVID19, but will at the same time address the Commission proposes to consolidate ongoing efforts and further develop the European Education Area along with dimensions to improve basic skills, including digital competences, facilitate international cooperation between education institutions, assure teachers and trainers have opportunities for continuous professional development. The project has been funded within the European Commmission’s Erasmus+ Program as a Strategic Partnerships in Response of The Covid-19 Situation

MAIN R&D&I (RESEARCH, DEVELOPMENT AND INNOVATION) PARTNERS

University of Siena (Italy)
University Duisburg-Essen (Germany)
BLINC (Blended Learning Institutions Cooperative) (Germany)
Consiglio Nazionale Delle Ricerche (Italy)


DEPARTMENT OF FINANCE

Sauletėkio al. 9, bld 2, LT-10222 Vilnius
Tel. 236 6142
E-mail:
Head – Assoc. Prof. Dr Deimantė Teresienė

STAFF

Professor: Dr R. Kanapickienė.
Associate professors: Dr G. Keliuotytė-Staniulėnienė, Dr A. Šapkauskienė, Dr An. Laurinavičius (part-time), Dr Al. Laurinavičius (part-time), Dr E. Bikas, Dr J. Kartašova (part-time), Dr D. Saikevičius.
Assistants: Dr L. Jurkšas, Dr. M. Valukonis.
Junior sssistant: Ahmad Kaab Omeir.
Lecturers: N. Činčikas, Dr S. Šiaudinis.
Doctoral students: R. Guobužaitė, R. Bruzgė, Ahmad Kaab Omeir, V. Kvietkauskas, A. Jakubauskaitė.

RESEARCH INTERESTS

Sustainable and responsible investments in private and public sectors
Financial ethics and artificial intelligence
Financial technologies
Public finance issues
Strategic finance management
Behavioural economics
Risk management
Central banking challenges

RESEARCH PROJECTS CARRIED OUT IN 2021

National Research Projects

Research Council of Lithuania (LMT SMART). Model for Assessing the Economic Behavior and Credit Risk of Participants in Loan Comparison Platforms Like Fintech in the Context of COVID-19. The project is funded from European Regional Development Fund (No. - 13.1.1-LMT-K-718-05-0010). Dr Rasa Kanapickienė, Dr Deimantė Teresienė, Dr Greta Keliuotytė-Staniulėniėnė, et al.

The aim of the project is to create, test and demonstrate in a real environment a model of economic behaviour and credit risk assessment of participants of loan comparison platforms, which would contribute to solving the problem of borrowing opportunities for individuals under COVID-19 conditions in Lithuania.

Research Council of Lithuania (LMT SMART). Implementation of a Blockchain Based Billing System to Promote the Use of Tourism Services After the COVID-19 Pandemic. The project is funded from European Regional Development Fund (No. - 13.1.1-LMT-K-718-05-0006). Dr. Alfreda Šapkauskienė, et al.

The aim of the project is to explore the possibilities of implementing a block-based billing system to promote the use of tourism services after the COVID-19 pandemic.

Research Council of Lithuania. Bibliometric Analysis of Central Bank Digital Currency. The project is funded from European Social Fund (No. 09.3.3-LMT-K-712-24-0219). Dr Alfreda Šapkauskienė, I. Turskytė.

The goal of this project is to perform a bibliometric analysis of central bank’s digital currency research. Recently, bibliometric research has become a new and viable field of research, given the importance of evaluating scientific output. The results of the bibliometric research will benefit both Lithuanian and foreign researchers and practitioners in deepening their scientific and practical knowledge in order to fully understand and evaluate the central bank's digital currency (CBDC) research directions, research topics, the most popular scientific publications, CBDC-related publications, research-leading researchers according to their citation, countries and keywords of publications. The results, conclusions and recommendations of the research will be presented in the scientific activity report.

European Social Fund under grant agreement with the Research Council of Lithuania (LMTLT).The Role of Bitcoin as an Investment Asset in Economic Policy Uncertainty (COVID - 19) (09.3.3-LMT-K-712-22-0334). Research Group – Assist. Prof. A. Šapkauskienė, G. Statulevičiūtė.

The aim of the project is to investigate the role of Bitcoin as an investment asset in the economy in the face of the global crisis - COVID - 19.

European Social Fund under grant agreement with the Research Council of Lithuania (LMTLT). Counterparty Credit Risk Assessment in the Context of the COVID-19 Pandemic (09.3.3-LMT-K -712-22-0365). Research Group – Assoc. Prof. D. Teresienė, B. Gudavičiūtė.

The goal of this project is to develop a valuation model, after examining the theoretical aspects of counterparty credit risk, which would support risk management decisions in COVID-19 pandemic situation and would also benefit risk management decisions during other economic and financial crises.

International Research Projects

COST Project Fintech and Artificial Intelligence in Finance - Towards a Transparent Financial Industry, CA19130. Research Group - Assoc. Prof. D. Teresienė, Prof. R. Kanapickienė. March 2020–April 2024.

The key objectives are: to improve transparency of AI supported processes by developing a data-driven rating methodology for ICOs; to address the disparity between the proliferation in AI models within the financial industry for risk assessment and decision-making, and the limited insight the public has in its consequences by developing policy papers and methods; to increase transparency to develop methods to scrutinize the quality of rule-based “smart beta” products across the asset management, banking and insurance industry.

Contractual Research

MAIN R&D&I (RESEARCH, DEVELOPMENT AND INNOVATION) PARTNERS

Bank of Lithuania (Lithuania)

OTHER RESEARCH ACTIVITIES

Prof. Dr R. Kanapickienė –

Assoc. Prof. Egidijus Bikas –

Assoc. Prof. Greta Keliuotytė-Staniulėnienė –

Assoc. Prof. Deimantė Teresienė –

BEST REPORTS DELIVERED AT CONFERENCES ABROAD

  • Rasa Bruzgė, Alfreda Šapkauskienė. 2021 IEEE International Conference on Technology and Entrepreneurship (ICTE). A Bibliometric Analysis of Bitcoin.
  • Deimante Teresiene, Ahmad Kaab Omeir. 36th EBES Conference – Istanbul. The Role of Central Banks in Climate Risk Management: The Case of Green Bonds in Foreign Reserves. 1–3 July 2021, Istanbul, Turkey.
  • Deimante Teresiene. WIDSSF 2021 - 1st Workshop on Intelligent Decision Support Systems in Fintech CIICESI - Centro de Inovação e Investigação em Ciências Empresariais e Sistemas de Informação Instituto Politécnico do Porto, Escola Superior de Tecnologia e Gestão Participation in program Committee http://www.cisti.eu/index.php?option=com content&view=article&id=94&catid=8&Itemid=120&lang=en
  • Deimante Teresiene. International forum PUBLIC ADMINISTRATION AND INNOVATION. National University Lviv Polytechnic, Hi Tech office. Keynote speaker: Monetary and fiscal policy interaction in the context of COVID-19 pandemic.

MOST IMPORTANT PARTICIPATION CASES OF RESEARCHERS IN WORKING GROUPS OR COMMISSIONS SET UP BY STATE AUTHORITIES, STATE AND MUNICIPAL INSTITUTIONS, ORGANISATIONS, BUSINESS ENTITIES

  • Prof. Dr R. Kanapickienė – member of Payment Council, Ministry of Finance of the Republic of Lithuania and Bank of Lithuania.
  • Assoc. Prof. Deimantė Teresienė – member of European Central Bank Credit assessment and eligibility network; member/collaborator of European Central Bank Risk Management Committee; member of Payment Council, Ministry of Finance of the Republic of Lithuania and Bank of Lithuania.
  • Assist. Linas Jurkšas – member of Eurosystem’s work Stream of ECB strategy review on Fiscal and Monetary Policy in a Monetary Union; member of Eurosystem’s Task Force on Banking Analysis for Monetary Policy.


DEPARTMENT OF MANAGEMENT

Saulėtekio al. 9, bld 2 - 706, LT-10222 Vilnius
Tel. 236 6134
E-mail:
Head – Prof. Dr Danuta Diskiene

STAFF

Professors: Dr D. Diskienė, Dr G. Drūteikienė, Dr J. Ruževičius, Dr D. Serafinas. Associate professors: Dr R. Adomaitienė, Dr A. Stankevičienė, Dr V. Tamaševičius,
Dr R. Paulienė, Dr R. Korsakienė (part-time).
Assistants: Dr J. Šarupičiūtė (part-time), Dr D. Ruželė, Dr R. Labanauskis (part-time).
Junior assistant: D. Budrienė (part-time).
Lecturers: Dr Ž. Grakauskas (part-time), K. Jakutytė-Ancienė (part-time).
Doctoral students: D. Budrienė N., A. Šaltis, Nabil Abu Ibrahim, I. Stravinskienė,
G. Narbutė, V. Buckė.

RESEARCH INTERESTS

Business management and administration
Leaders’ managerial potential
Human resource management activities
Improvement of organizational reputation
Improvement of methodology for quality assessment of business and education performance
Lean management, organizational culture
Quality of life and working life
Quality management and social responsibility
Sustainable development processes and economic models
Socially oriented green economy

RESEARCH PROJECTS CARRIED OUT IN 2021

Research Projects Supported by University Budget

Challenges of Human Resources Management in a Dynamic Environment. Prof. D. Diskienė. 2021.

Main publications:

Stankevičienė, A., Tamaševičius, V., Diskienė, D., Grakauskas, Ž. & Rudinskaja, L. The mediating effect of work-life balance on the relationship between work culture and employee well-being. Journal of Business Economics and Management. 2021, 22(4): 988–1007. https://doi.org/10.3846/jbem.2021.14729.

Jaskeviciute, V., Stankeviciene, A., Diskiene, D., Savicke, J. The relationship between employee well-being and organizational trust in the context of sustainable human resource management. Problems and Perspectives in Management. 2021, 19(2): 118–131. DOI:10.21511/ppm.19(2).2021.10.

Vaiginienė, E., Paulienė, R., Urbšienė, L. Hidden Champions of Lithuania. Hidden Champions in Dynamically Changing Societies: Critical Success Factors for Market Leadership. Braček Lalić A., Purg D. (Eds). 2021, 239–261. DOI: 10.1007/978-3-030-65451-1_17.

The Study of Quality Management Standards and Quality of life and working life balance. Prof. J. Ruževičius. 2021.

The purpose of this research was to develop quality management theory and methodology of quality of life and working life balance assessments.

Main publications:

Impulevičienė, J., Ruževičius, J. A model of Lithuania for work-life quality balance: private and public sectors. The Work-Life Balance Bulletin: A DOP Publication. 2021, 5(1): 22–26.

Stravinskiene, I., Serafinas, D. Process management and robotic process automation: the insights from systematic literature review. Management of Organizations: Systematic research. 2021, 85: 87–106. https://doi.org/10.1515/mosr-2021-0006.

Simonyte, S., Adomaitiene, R., Ruzele, D. Experience of lean application in higher education institutions. International Journal of Lean Six Sigma. 2021. DOI: 10.1108/IJLSS-11-2020-0208.

MAIN R&D&I (RESEARCH, DEVELOPMENT AND INOVATION) PARTNERS

Klaipėda University (Lithuania)
Wroclaw University of Economics (Poland)
Lund University (Sweden)
Bucharest University of Economics (Romania)
“QMS Italia” S.R.L (Italy, Napoli)
Lithuanian Association for Quality Management and Innovations (Lithuania)
Belarus State Economic University (Belarus)
Dnipro National University (Ukraine)
Torino University (Italy)
International Guild of Quality Professionals
Board of SME Council under the Ministry of Economics and Innovations (Lithuania)
Union of Lithuanian Scientists (Lithuania)

OTHER RESEARCH ACTIVITIES

Prof. D. Diskienė –

Prof. G. Drūteikienė –

  • editorial board member of the Bulletin of Taras Shevchenko National University of Kyiv. Economics, http://bulletin-econom.univ.kiev.ua/;
  • member of the International Advisory Committee of the IISES (International Institute of Social and Economic Sciences at University of Economics, Faculty of Economics, Prague) Economics and Finance Conferences (Chech Republic), http://www.iises.net/.

Prof. J. Ruževičius –


DEPARTMENT OF MARKETING

Saulėtekio al, bld 2 - 819, LT-10222 Vilnius
Tel. 236 6146
E-mail:
Head – Prof. Dr Sigitas Urbonavičius

STAFF

Professors: Dr S. Urbonavičius, Dr V. Dikčius.
Associate professors: Dr K. Adomavičiūtė, Dr M. Degutis, Dr A. Gaižutis, Dr R. Časas.
Associate professors of practice: Dr A. Jonkus, Dr R. Ivanauskas.
Junior assistants: I. Radavičienė, V. Kaduškevičiūtė, S. Kiršė, I. Zimaitis.
Research fellows: Dr K. Adomavičiūtė, Dr V. Škare.
Doctoral students: I. Radavičienė, I. Zimaitis, S. Kiršė, V. Kaduškevičiūtė, R. Andrulienė, E. Blažinauskytė, G. Dagytė-Kavoliūnė, Yiyuan Ying.
Senior Researcher: L. Hollebeek.

RESEARCH INTERESTS

Consumer privacy and behaviour in digital environment
Consumer behaviour in online learning
Buyer price perception in online environment
Specifics of marketing management and consumer behaviour in transition economies
Tourist behaviour

RESEARCH PROJECTS CARRIED OUT IN 2021

Projects Supported by University Budget

Consumers and Companies in a Dynamic Environment. Prof. Dr S. Urbonavičius. 2020–2024.

Continuing the research topic Consumer Behaviour Tendencies in a Dynamic Environment, the researchers of the Department presented the findings in numerous publications.

Main publications:

Dikčius, V., Urbonavičius, S., Adomavičiūtė, K., Degutis, M., Zimaitis, I. Learning marketing online: the role of social interactions and gamification rewards. Journal of Marketing Education. 2021, 43(2): 159–173. DOI: 10.1177/0273475320968252.

Urbonavičius, S. Chernobyl: analysis of young travellers' motivations to visit a unique dark tourism destination. Tourism. 2021, 69(1): 127–139. DOI: 10.37741/t.69.1.9.

Urbonavičius, S., Degutis, M., Zimaitis, I., Kaduškevičiūtė, V., Skare, V. From social networking to willingness to disclose personal data when shopping online: modelling in the context of social exchange theory. Journal of Business Research. 2021, 136: 76–85. DOI: 10.1016/j.jbusres.2021.07.031.

National Research Projects

Research Council of Lithuania. Modeling the Impact of Game Elements on Online Store Loyalty. Prof. V. Dikcius. 2021–2024.

Research Council of Lithuania. Factors, Influencing the Willingness to Disclose Personal Data, and Impact of the Willingness on the Choice of a Purchasing Channel. Prof. S. Urbonavicius. 2019–2022.

Research Council of Lithuania. Personal Prices, Privacy and Consumer Search in Retail Markets. Prof. S. Urbonavicius. 2020–2022.

MAIN R&D&I (RESEARCH, DEVELOPMENT AND INNOVATION) PARTNERS

University of Zagreb (Croatia)
Cracow University of Economics (Poland)
Monfort College of Business, University of Northern Colorado (USA)
School of Business of Nipissing University (Canada)

OTHER RESEARCH ACTIVITIES

Prof. S. Urbonavičius –

Prof. V. Dikčius –

  • member of European Marketing Academy (EMAC);
  • deputy member of MITA (Science, Innovation and Technology Agency) in area of Social Sciences;
  • editorial board member of the journal Organizations and Markets in Emerging Economies, http://www.journals.vu.lt/omee.

Assoc. Prof. A. Gaižutis –

  • member of Lithuanian Marketing Association LiMA;
  • coordinator of national technology platform of Lithuania for Forest-Based Sector, www.ntplatformos.lt;
  • member of the Board, vice-president, ELO- European Landowners Organisation, http://www.europeanlandowners.org/;
  • member of joint committee on private forestry development issues, established by the Minister of Environment;
  • member of Advisory Council on Forestry under Ministry of Environment, established by the Minister of Environment, www.am.lt;
  • chairman of the Forest Owners Association of Lithuania, www.forest.lt;
  • member of Council of Lithuanian Chamber of Agriculture, www.zur.ltww.zur.lt;

Dr M. Degutis –

  • national editor of Eurobarometer Report (European Commission);
  • member of ESOMAR (European Society for Opinion and Marketing Research).

Dr I. Radavičienė –

  • member of Lithuanian Marketing Association LiMA;
  • Neuromarketing Science & Business Association NMSBA, https://www.nmsba.com.

V. Kaduškevičiūtė –

  • member of Lithuanian Marketing Association LiMA.

Dr K. Adomavičiūtė –

  • deputy editor-in chief of the journal Organizations and Markets in Emerging Economies, www.om.ef.vu.lt/.

I. Zimaitis –

  • assistant editor of the journal Organizations and Markets in Emerging Economies, www.om.ef.vu.lt.

BEST REPORTS DELIVERED AT CONFERENCES ABROAD

  • Sigitas Urbonavicius, Meysam Moayery. Importance of privacy regulatory environments on willingness to disclose personal data in e-stores. AIRSI 2021 Conference on Technologies 4.0 in Tourism, Services & MarketingAt: Zaragoza University, Spain, July 2021.
  • Mindaugas Degutis, Sigitas Urbonavicius, Vatroslav Skare. Willingness to Disclose Personal Data in Online Shopping as a Case of Reciprocal Social Exchange. 13th EMAC regional conference “Extending boundaries: The impact of digital world on marketing”. Kozminsky University, Warsaw, Poland, September 2021.
  • Ignas Zimaitis, Sigitas Urbonavicius, Vaida Kaduskeviciute. Modelling the Willingness to Disclose Personal Data in Registration to Online Store on the Basis of Social Exchange Theory. 13th EMAC Regional Conference “Extending boundaries: The impact of digital world on marketing”. Kozminsky University, Warsaw, Poland, September 2021.

MOST IMPORTANT PARTICIPATION CASES OF RESEARCHERS IN WORKING GROUPS OR COMMISSIONS SET UP BY STATE AUTHORITIES, STATE AND MUNICIPAL INSTITUTIONS, ORGANISATIONS, BUSINESS ENTITIES

MOST IMPORTANT RESEARCH DISSEMINATION ACTIVITIES

  • Radaviciene. Behavioural pricing. How price changes impact intention to buy a product? SPECTRUM. 2021, 34.


DEPARTMENT OF QUANTITATIVE METHODS AND MODELLING

Saulėtekio al. 9, bld 2 - 811, LT-10222 Vilnius
Tel. 236 6277
E-mail
Head – Assoc. Prof. Dr Algirdas Bartkus

STAFF

Professors: Dr G. Kasnauskienė, Dr L. Čekanavičius, Dr T. Baležentis, Dr T. Medaiskis.
Associate professors: Dr A. Bartkus, Dr V. Karpuškienė.
Lecturers: Dr R. Stasiukynaitė, Dr Š. Eirošius.
Junior research fellows: K. Zitikytė, V. Petrylė, A. Vainilavičius.
Doctoral students: K. Zitikytė, K. Kriščiūkaitytė, K. Mažeikaitė, A. Vainilavičius.

RESEARCH INTERESTS

Applied statistics and econometrics
Economic demography
Economics of social security
Application of mathematical methods for decision making
Economics of resources

RESEARCH AREAS

Analysis, modelling and management of Lithuanian social and economic development

DOCTORAL DISSERTATIONS MAINTAINED IN 2021

K. Zitikytė. Labor market participation of older workers in Lithuania: factors affecting employment in old age.

MAIN SCIENTIFIC ACHIEVEMENTS IN 2021

Kasnauskienė, G., Kavalnis, R. Does emigration hurt the economy? Evidence from Lithuania. Organizations and markets in emerging economies. Vilnius: Vilniaus University Press. 2021, 12(2): 440–458.
Karpuškienė, V. Alcohol availability restriction policy and changes in consumer behavior in Lithuania in 2016–2019. Ekonomika. Vilnius: Vilniaus University Press. 2021, 100(1): 75–93.
Balezentis, T., Streimikiene, D., Mikalauskas, I., Shen, Z. Towards carbon free economy and electricity: The puzzle of energy costs, sustainability and security based on willingness to pay. Energy. Oxford: Elsevier. 2021, 214(119081): 1–9.

RESEARCH PROJECTS CARRIED OUT IN 2021

Contractual Research

Study of Alcohol Consumption Habits in Lithuania. A. Bartkus, V. Karpuškienė.

The Determinants of VAT Gap. A. Bartkus.

MAIN R&D&I (RESEARCH, DEVELOPMENT AND INNOVATION) PARTNERS

University of Copenhagen (Denmark)
Lithuanian energy institute (Lithuania)
Lithuanian business confederation (Lithuania)
State Tax Inspectorate under the Ministry of Finance of the Republic of Lithuania (Lithuania)

OTHER RESEARCH ACTIVITIES

Prof. G. Kasnauskienė –

Prof. T. Baležentis –

BEST REPORTS DELIVERED AT CONFERENCES ABROAD

  • Poškutė, Virginija; Gudaitis, Tadas; Medaiskis, Teodoras; Mečkovski, Jaroslav. Public policies transforming retirement pensions in Central and Eastern Europe. 5th International Conference on Public Policy (ICPP5) Barcelona, 5–9 July 2021. International Public Policy Association.
  • Belinskaja, Larisa; Kasnauskienė, Gindrutė. COVID-19 and the insurance industry: changes to policyholder preferences and a challenge to insurance. Transformation of the insurance industry for sustainable development in the new conditions: XXII International scientific-practical conference, Moscow, 2–3 June 2021.
  • Balezentis, Tomas; Rudminas, Linas. Exploring the production possibilities for the Baltic States. IV International Science Conference SER 2021, Igalo (Herceg Novi), Montenegro, 17–20 September 2021.

CONSULTATIONS PROVIDED BY THE UNIT TO THE PUBLIC OR ECONOMIC ENTITIES

  • Bartkus. Consultations for the State Tax Inspectorate under the Ministry of Finance of the Republic of Lithuania, regarding the determinants of VAT gap.

MOST IMPORTANT RESEARCH DISSEMINATION ACTIVITIES

  • Constant delivery of insights and explanations of the current economic affairs for the media: A. Bartkus, T. Medaiskis, K. Zitikytė.


DEPARTMENT OF THEORETICAL ECONOMICS

Saulėtekio al. 9, LT-01513 Vilnius
Tel. 236 6147
E-mail:
Head – Prof. Dr Vincentas Giedraitis

STAFF

Professors: Dr V. Giedraitis, Dr R. Lazutka.
Assoc. professor: Dr E. Ulvidienė.
Lecturers: N. Ramanauskė, Dr N. Černiauskas.
Doctoral students: I. Blažienė, V. Gabnytė.

RESEARCH INTERESTS

Stabilization policy in global economic conditions
Innovation in the context of the global economic core-periphery hierarchy
Competition and anti-trust policy
Distribution of income
Economics of the Welfare State
Competitive economic growth and social consequences

Main publications:

Černiauskas, N., Sologon, D., O’Donoghue, C., & Tarasonis, L. Income inequality and redistribution in Lithuania: the role of policy, labour market, income and demographics. Review of Income and Wealth. 2021. DOI:10.1111/roiw.12546 .

Černiauskas, N. & Jousten, A. Statutory, effective, and optimal net tax schedules in Lithuania. IZA Journal of Labor Policy. 2021, 11(1). DOI: 10.2478/izajolp-2021-0005.

BEST REPORTS DELIVERED AT CONFERENCES ABROAD

  • Gabnytė, Vitalija. The 17th Annual Conference of the East Asian Social Policy Research Network & The 27th Annual Conference of the Foundation for International Studies on Social Security). Nowcasting poverty and inequality in the context of economic growth and Covid-19 pandemic in Lithuania.

OTHER RESEARCH ACTIVITIES

Prof. V. Giedraitis –

  • Associate editor of the journal Ekonomika;
  • editorial board member of: Bulletin of Taras Shevchenko National University of Kyiy, Economics, Journal of Advances in Economics and Finance, Sociology of Development, Information Technology and Development, Journal of World-Systems Research.

CONSULTATIONS PROVIDED BY THE UNIT TO THE PUBLIC OR ECONOMIC ENTITIES

  • Giedraitis, Vincentas et al. Educators of the future. Online public panel
    presentation organized by Taras Shevchenko National University of Kyiv. 16 March.
  • Lazutka, Romas. European social policy network (ESPN, Contract n° VC/2018/0463). European Commission DG Employment and Social Affairs. Commissioned by the European Commission. National expert.

MOST IMPORTANT RESEARCH DISSEMINATION ACTIVITIES

  • Prof. R. Lazutka. Numerous interviews given to the national press.


CENTER FOR EXPERTISE IN ECONOMICS

Saulėtekio al. 9, bld 2, LT-10222 Vilnius
E-mail
Head – Dr Eglė Jakučionytė

STAFF

Associate professors: Dr J. Jaraitė-Kažukauskė, Dr A. Kažukauskas, Dr V. Petrikaitė.
Research professors: Dr J. Gineikienė, Dr Y. Joye.
Senior researchers: Dr J. Klimavičiūtė, Dr P. Lastauskas.
Researchers: Dr J. Garcia-Louzao Perez, Dr P. Grüning (until June 2021), Dr A. Nguyen (until June 2021), Dr M. Norkutė, Dr L. Tarasonis.
Research assistants: Dr M. Douch, Dr G. Hausmann Guil, Dr B. Hemingway, Dr E. Jakučionytė, Ž. Kaminskienė, Dr S. Soofi Siavash.
Doctoral students: F. Asmare Marye, L. Galdikienė.

RESEARCH INTERESTS

Asset pricing
Applied macroeconomics
Behavioral economics
Competition policy
Computational macroeconomics
DSGE models
Economic policy
Economics of long-term care and ageing
Endogenous growth theory
Energy economics
Environmental and resource economics
Firm dynamics
Fiscal policy
Global economy and spillovers
Health economics
Heterogeneous agents
Industrial organization
International macroeconomics and finance
Labor economics
Macro labor
Macrofinance
Microeconomics
Panel data econometrics
Public economics
Real estate economics
Time series econometrics

MAIN CONFERENCES ORGANIZED IN 2021

Vilnius Winter Meeting 2021, Vilnius, Lithuania. The 10th Annual Lithuanian Conference on Economic Research, hosted by the Bank of Lithuania and Vilnius University, was held virtually on 28 December, 2021. https://meeting2021.econ.lt/home

CEFER/VU/KTU workshop. The workshop was held virtually on September 17, 2021. https://sites.google.com/view/workshop2021lt/home

Gender Gaps Conference 2021 (joint with GRAPE): https://grape.org.pl/GGaps2021

MAIN PUBLICATIONS IN 2021

Asmare, F., Jaraitė, J. and Kažukauskas, A. The effect of descriptive information provision on electricity consumption: Experimental evidence from Lithuania. Energy Economics. 2021, 104: 105687. https://doi.org/10.1016/j.eneco.2021.105687.

Cui, G., Norkutė, M., Sarafidis, V., and T. Yamagata. Two-stage instrumental variable estimation of linear panel data models with interactive effects. Econometrics Journal. 2021, first online. https://doi.org/10.1093/ectj/utab029.

Černiauskas, N., Sologon, D. M., O’Donoghue, C. and Tarasonis, L. Income Inequality and Redistribution in Lithuania: The Role of Policy, Labor Market, Income, and Demographics. Review of Income and Wealth. 2021, first online. https://doi.org/10.1111/roiw.12546.

Constantinescu, M., Nguyen, A. A century of gaps: Untangling business cycles from secular trends. Economic Modelling. 2021, 100: 105505. https://doi.org/10.1016/j.econmod.2021.105505.

Cremer, H., Klimaviciute, J., Pestieau, P. A political economy of loose means-testing in targeted social programs. Economics Letters. 2021, 202: 109810. https://doi.org/10.1016/j.econlet.2021.109810.

Decreuse, B., & Tarasonis, L. Statistical Discrimination in a Search Equilibrium Model: Racial Wage and Employment Disparities in the US. Annals of Economics and Statistics. 2021, (143): 105–136. https://doi.org/10.15609/annaeconstat2009.143.0105.

Hu, X., Jaraitė, J., Kažukauskas, A. The effects of wind power on electricity markets: A case study of the Swedish intraday market. Energy Economics. 2021, 96: 105159. https://doi.org/10.1016/j.eneco.2021.105159.

Jakucionyte, E., van Wijnbergen, S. The macroeconomics of carry trade gone wrong: Corporate and consumer losses in Emerging Europe. Economics of Transition and Institutional Change. 2021, first online. https://doi.org/10.1111/ecot.12316.

Joye, Y., Bruyneel, S. & Fennis, B. Is There a “Gestalt Bias Effect” in Indulgence? Subjectively Constructing Food Units Into Wholes (Versus Parts) Increases Desire to Eat and Actual Consumption. Frontiers in Psychology – Eating Behavior. 2021, 12: 671299. doi: 10.3389/fpsyg.2021.671299.

Kažukauskas, A., Broberg, T., Jaraitė, J. Social Comparisons in Real Time: A Field Experiment of Residential Electricity and Water Use. The Scandinavian Journal of Economics. 2021, 123(2): 558–592. https://doi.org/10.1111/sjoe.12422.

Kalmi, P., Trotta, G., Kažukauskas, A. Energy-related financial literacy and electricity consumption: Survey-based evidence from Finland. Journal of Consumer Affairs. 2021, 55(3): 1062–1089, https://doi.org/10.1111/joca.12395.

Nguyen, A., Onnis, L., Rossi, R. The Macroeconomic Effects of Income and Consumption Tax Changes. American Economic Journal: Economic Policy. 2021, https://www.aeaweb.org/articles?id=10.1257/pol.20170241&&from=f.

Westerlund, J., Norkutė, M., Stauskas, O. The Factor Analytical Approach in Trending Near Unit Root Panels. Journal of Time Series Analysis. 2021, first online. https://doi.org/10.1111/jtsa.12624.

RESEARCH PROJECTS CARRIED OUT IN 2021

International Research Projects (due to brevity, the project description mentions only the project researchers affiliated with the Center for Expertise in Economics)

Research Council of Lithuania through the EEA Grants. Micro-Level Responses to Socio-Economic Challenges in the Face of Global Uncertainties, No S-BMT-21-8 (LT08-2-LMT-K-01-073). Principal Investigator: Dr P. Lastauskas.

European Social Fund. Reassessment of the Optimum Currency Area in the Persistently Heterogeneous European Union, No. 09.3.3-LMT-K-712-01-0123. Main Investigator: Dr P. Lastauskas. Researcher: Dr A. Nguyen.

Polish-Lithuanian Intergovernmental Grant “Daina”. Product and Labour Market Reforms and Economic Activity in the EU Countries, S-LL-18-12. Principal Investigator: Dr P. Lastauskas.

Polish-Lithuanian Intergovernmental Grant “Daina”. Flexibility in Industrial Relations and Labor Market Inequality, P-LL-18-256. Principal Investigator: Dr L. Tarasonis.

Circular Economy Modelling and Empowerment Perspective in a Small Open Economy (CEMESOE). No. MIP 19-62. Researcher: Dr P. Grüning.

How Non-Price Instruments Can Help Increase Energy Efficiency at the Right Time, No 01.2.2-LMT-K-718-02-0007. Researchers: Dr A. Kažukauskas, Dr J. Jaraitė-Kažukauskė, F. Asmare Marye.

Personal Pricing, Privacy and Search in Retail Markets, No 09.3.3-LMT-K-712-18-0001. Researcher: Dr V. Petrikaitė.

MAIN R&D&I (RESEARCH, DEVELOPMENT AND INNOVATION) PARTNERS

University of Tartu (Estonia)
HUST
BI Norwegian Business School (Noeway)
The Baltic International Centre for Economic Policy Studies (BICEPS)
Tallinn University of Technology (TalTech) (Estonia)
University of Amsterdam (Netherlands)
Groningen University (Netherlands)
Toulouse School of Economics, University of Toulouse Capitole (France)
University of Liège (France)
Umeå University (Sweden)
University of Gothenburg (Sweden)
University of Florida (USA)
University of Helsinki (Finland)
University of Vaasa (Finland)
University of York (UK)
Osaka University (Japan)
Lund University (Sweden)
Deakin University (Australia)

OTHER RESEARCH ACTIVITIES

Dr P. Lastauskas –

Dr L. Tarasonis –

BEST REPORTS DELIVERED AT CONFERENCES ABROAD

MOST IMPORTANT NATIONAL AND INTERNATIONAL AWARDS RECEIVED FOR R&D ACTIVITIES

  • Dr L. Tarasonis. VU Rector’s award for best publication in 2020 at Vilnius University (Dolado, J. J., García-Peñalosa, C., & Tarasonis, L. The changing nature of gender selection into employment over the Great Recession. Economic Policy, 2020, 35(104): 635–677.)

MOST IMPORTANT PARTICIPATION CASES IN WORKING GROUPS OR COMMISSIONS

  • Dr P. Lastauskas. The ECB’s monetary policy review workstream, focusing on the impact of (de)globalization on monetary policy transmission.
  • Dr P. Grüning. The ECB’s monetary policy review workstream, focusing on the impact of (de)globalization on monetary policy transmission.

MOST IMPORTANT RESEARCH DISSEMINATION ACTIVITIES

Blog posts:

  • Dr P. Lastauskas and Dr. A. Nguyen: LSE Business Review, Central banking, Phelan US Centre, LSE Research for the World, VOXEU.
  • Dr P. Lastauskas and Dr. L. Tarasonis: VU Naujienos: Nobelio premija 2021
  • Dr A. Kažukauskas, Dr. J. Jaraitė-Kažukauskė: EVAF

Media articles:

  • Dr A. Kažukauskas, Dr. J. Jaraitė-Kažukauskė: 15min, delfi
  • Dr P. Lastauskas: El Pais