Policy Contributions

INTERNATIONAL MONETARY FUND

2022

1. Fiscal Monitor, April 2022: Fiscal Policy from Pandemic to War (Chapter 1 Team), April, 2022

2. Inflation Uncertainty and Sovereign Borrowing Costs, (Fiscal Monitor, April 2022), pages10-12

3. Box 2.1. Inequality and Public Debt Sustainability (pages 60-61), World Economic Outlook, April 2022

2021

1. Balancing Short-term Support with Medium-Term Fiscal Discipline: A Note for the G7 Ministerial Meeting, May-2021 (with Paulo Medas, Jean-Marc Fournier, W. Raphael Lam, and Mehdi Raissi)

2. World Economic Outlook Update (BOX 2. FISCAL DEVELOPMENTS AND OUTLOOK), July-2021 (with John Ralyea)

3. Fiscal Monitor, October 2021: Strengthening the Credibility of Public Finances (Chapter 1 Team), October-2021

EUROPEAN CENTRAL BANK

1) ECB's FINANCIAL STABILITY REVIEW, November 2011 with Kristina Barauskaitė, Linda Rousová, and Lorenzo Cappiello

• ECB Working paper version: The Impact of Credit Supply Shocks in the Euro Area: Market-Based Financing Versus Loans , ECB Working paper No 2673, 2022

2) "Box 3 Globalisation and uncertainty: ECB's Work stream on Globalization", September 2021, with Povilas Lastauskas

• ECB Working paper version Global Spillovers of US Monetary Policy Uncertainty Shocks: ECB Working paper No 2513, Bank of Lithuania Working Paper Series, No 84

BANK OF LITHUANIA

I. Model Developments

I am the lead developer of the following macro-economic models:

1. DSGE models with international linkages: Develop DSGE models for Lithuania, taking into account international linkages with the rest of Euro area, US and the rest of Global economy. This model is used to analyze shocks to monetary and fiscal policy and its spillover effects (with Aurelija Proskute)

2. Output gap estimation: Develop a multivariate unobserved component model to improve real-time estimates of potential output and its associated output gap for Lithuania. (with Mihnea Constantinescu)

3. Forecasting models: Develop and maintain the forecasting models of BoL

- The traditional error-correction models

- The new model that takes into account the forward-looking behavior of agents. ( with Soroosh Soofi Siavash)

II. Policy Projects/Consultancies

1. The issue on economic convergence of Lithuania (Research collaboration with Macroeconomic analysis and projections Division, 2019, on-going)

2. The Impacts of Tariff Wars on Lithuanian Economy- An investigation based on a DSGE model for Lithuania, Euro Area, and rest of the World (Provide consultancy to Macroeconomic analysis and projections Division, 2019)

3. The transmission mechanism of ECB monetary policy onto Lithuanian economy (Provide consultancy to Monetary Policy Division, 2018)

4. The impacts of EU Funds on Lithuanian economy (Research collaboration with Macroeconomic analysis and projections Division, 2017).