Ieva Mikaliūnaitė-Jouvanceau
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I am a Principal Economist in the Financial Stability Department at Lietuvos Bankas (Bank of Lithuania). I hold a PhD in Economics from University of Palermo.
My work focuses on financial stability and financial risk modelling, with particular emphasis on stress testing, systemic risk, macroprudential policy, bank lending and credit conditions.
For more details about my professional background, see my CV.
Research and Publications
Journal Articles:
What drove the rise in bank lending rates in Lithuania during the low-rate era?, Baltic Journal of Economics, 2023, with J. Karmelavičius and A. Buteikis.
ECB monetary communications: Market fragmentation at stake, Economics Letters, 2023, with V. Jouvanceau.
Financial distress and real economic activity in Lithuania: a Granger causality test based on mixed-frequency VAR, Empirical Economics, 2021, with A. Cipollini.
Macro-uncertainty and financial stress spillovers in the Eurozone, Economic Modelling, 2020, with A. Cipollini.
Working papers:
Calibrating the Positive Neutral and Overall CCyB: A Macroprudential Stress Testing Approach, Bank of Lithuania, Discussion Paper Series, No. 46 / 2026.
Systemic Risk Modelling System (SRMS): a macroprudential stress testing model, Bank of Lithuania, Discussion Paper Series, No. 41 / 2025, with L. Naruševičius.
Housing and credit misalignments in a two-market disequilibrium framework, Bank of Lithuania, Occasional Paper Series, No. 42 / 2022, with J. Karmelavičius and A. Petrokaitė. Also available as: ESRB working paper, No. 135 / July 2022.
Euro Area Monetary Communications: Excess Sensitivity and Perception Shocks, Bank of Lithuania, Working Paper Series, No. 79 / 2020, with V. Jouvanceau.
Policy Contributions
Sensitivity of stress test results to alternative interest rate assumptions, Financial Stability Review 2026, Box 3, Bank of Lithuania.
Simulating dynamic balance sheet reactions and macroprudential policy using the 2025 EU-wide stress test, Macroprudential Bulletin, European Central Bank, vol. 32, with Couaillier, Dimitrov, Faber, Forletta, Nunes, Pollastri, Röhm.
Impact of second-round effects on the banking sector stress testing, Financial Stability Review 2024, Box 3, Bank of Lithuania, with L. Naruševičius.
Tools and test scenarios for managing climate risks to financial stability, Financial Stability Review 2023, Box 4, Bank of Lithuania, with U. Kalinauskaitė.
ECB monetary policy communications: A spectrum of financial market responses, VoxEU.org, 25 February 2021, with V. Jouvanceau.
What drives the flow of small loans: corporate demand or bank credit supply?, Financial Stability Review 2021, Box 2, Bank of Lithuania.
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