Working papers - academic research on economy aimed at enhancing the knowledge about economic processes, problems and trends through development of new theories and concepts. The results of these studies are published in leading international journals, as for example SAGE Knowledge, Journal of Economic Development, Research Policy (Science Direct), Baltic Journal of Economics, Eastern Economic Journal and etc.
Aleksandr Vashchilko| 08.04.2015
Households' Expenditure Patterns in Belarus
This study estimates the equivalence scale for Belarus, while directly accounting for household size economies of scale. For this purposes, the modication of methodology in Lancaster and Ray (1998) was used. The poverty levels for vulnerable social groups are estimated using the house holds equivalized total expenditures. In addition, the comparison of Engel curves for several expenditure categories is conducted for different years.
| 11.08.2014
Macroeconomic Performance, Individual Characteristics and Preference for Democracy
What affects individual preference for different types of political regime? Is it something individual or are there factors from outside that form preferences? This paper investigates the determinants of individual preferences for democratic values and looks at differences in impact of influencing factors in transition and non-transition countries.
|Michèle Tertilt|James MacGee| 28.02.2014
The Democratization of Credit and the Rise in Consumer Bankruptcies
Financial innovations are a common explanation for the rise in credit card debt and bankruptcies. To evaluate this story, the authors develop a simple model that incorporates two key frictions: asymmetric information about borrowers’ risk of default and a fixed cost of developing each contract lenders offer.
Belarusian Economic Growth Decomposition
Belarus experienced rapid economic growth in the 2000's, which abruptly came to halt after 2008. The authors found that the major source of growth was capital accumulation, while growth in total factor productivity (TFP) was modest. Moreover, government interventions and controls on the capital market contributed to misallocation which lowered aggregate productivity. Lack of productivity growth led to the loss of competitiveness on the international markets. Comparisons of TFP in Belarus with the Czech Republic and Sweden shows that comparative advantages of Belarus are concentrated in the natural-resource based industries, and TFP gap with the Czech Republic is not closing over time.
|Natalia Kovrijnykh| 11.05.2013
Screening as a Unified Theory of Delinquency, Renegotiation, and Bankruptcy
The authors propose a parsimonious model with adverse selection where delinquency, renegotiation, and bankruptcy all occur in equilibrium as a result of a simple screening mechanism.
Kiryl Haiduk| 11.03.2013
The Outcome of Directed Lending in Belarus: Mitigating Recession or Dampening Long-Run Growth?
This study analyzes the effects of directed lending upon total factor productivity and GDP growth in Belarus over the period of 2000–2012.