Ekonomika Vilniaus Universitetas最新文献_第9页

Estimates Of Russia’s Potential Output 对俄罗斯潜在产量的估计

Ekonomika Vilniaus Universitetas Pub Date : 2021-10-08 DOI: 10.15388/ekon.2021.100.2.4

Martin Janíčko, P. Maleček, Pavel Janíčko

引用次数: 1

Evaluation of Stackelberg Leader-Follower Interaction Between Policymakers in Small Open Economies 小型开放经济体政策制定者之间Stackelberg主从互动的评价

Ekonomika Vilniaus Universitetas Pub Date : 2021-10-08 DOI: 10.15388/ekon.2021.100.2.5

Metin Teti̇k, R. Ceylan

{"title":"Evaluation of Stackelberg Leader-Follower Interaction Between Policymakers in Small Open Economies","authors":"Metin Teti̇k, R. Ceylan","doi":"10.15388/ekon.2021.100.2.5","DOIUrl":"https://doi.org/10.15388/ekon.2021.100.2.5","url":null,"abstract":"The problem of coordination between policymakers seems to have created fundamental problems related to economic and social costs, targeted inflation, potential growth, and a high budget deficit. To resolve these problems in this framework, it is important to see the results of the interaction between policymakers and to propose an optimal policy strategy. In this study, the interactions between monetary and fiscal policymakers are examined game theoretically within the framework of the New Keynesian model. The strategic interaction between these policymakers is assessed using the DSGE (Dynamic Stochastic General Equilibrium) model for a small open economy. From this point of view, the interaction between policymakers is assessed within the framework of hypothetical scenarios. The optimal monetary and fiscal policies for a small open economy are derived from the leader-follower mechanism solution known as the Stackelberg solution. Optimal Stackelberg policy rules derived for a small open economy contribute to the literature of economics. The performance of the game theoretically derived optimal policy rules is evaluated through dynamic simulation within the framework of counterfactual experiments. The parameters developed for the model are calibrated for the Turkish economy. Dynamic simulation of the models, the impulse response functions, and the social loss analysis shows that the optimal policy mix for the Turkish economy is when the monetary policymaker is the leader, and the fiscal policymaker is the follower.","PeriodicalId":36306,"journal":{"name":"Ekonomika Vilniaus Universitetas","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-10-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48455673","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Financial Innovation and Technology after COVID-19: a few Directions for Policy Makers and Regulators in the View of Old and New Disruptors 新冠肺炎后的金融创新与科技:新老颠覆者视角下政策制定者和监管者的几个方向

Ekonomika Vilniaus Universitetas Pub Date : 2021-10-08 DOI: 10.15388/ekon.2021.100.2.2

M. Pompella, L. Costantino

{"title":"Financial Innovation and Technology after COVID-19: a few Directions for Policy Makers and Regulators in the View of Old and New Disruptors","authors":"M. Pompella, L. Costantino","doi":"10.15388/ekon.2021.100.2.2","DOIUrl":"https://doi.org/10.15388/ekon.2021.100.2.2","url":null,"abstract":"Innovation and technology have led to the redefinition of business models and development of new ones in many bricks and mortar sectors. Similarly, blockchain and fintech have impacted the finance and banking industries and are expected to further affect them in the future, leading some media to coin the expression “Uberization of banking”. The authors extrapolate from sharing economy models to conclude that while blockchain and fintech are poised to advance finance and banking, there are no disruptive features that corroborate the term. By analogy and successive approximations, this article identifies the limitations of the arguments for disruption in finance and banking. Besides, hinging upon stylized facts, the article establishes similarities with sharing economy models to identify potential threats stemming from financial innovations such as Tokenomics, tagged as “no-ABSs”. Eventually, the authors identify entry points and ways forward arising from the COVID-19 pandemic for policy makers and regulators to regain their pivotal role in policing the market and ensuring transparency while driving innovation.","PeriodicalId":36306,"journal":{"name":"Ekonomika Vilniaus Universitetas","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-10-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45015946","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 3

Macroeconomic Uncertainty and Empirical Research Results of its Quantitative Measurement in Georgia 格鲁吉亚宏观经济不确定性及其定量测度的实证研究结果

Ekonomika Vilniaus Universitetas Pub Date : 2021-03-25 DOI: 10.15388/EKON.2021.1.4

David Kbiladze, S. Metreveli, Tamar Kbiladze

引用次数: 1

FDI inflows in selected Emerging European economies with reflections on economic growth 部分欧洲新兴经济体的FDI流入及其对经济增长的影响

Ekonomika Vilniaus Universitetas Pub Date : 2021-01-01 DOI: 10.5937/ekonomika2104011e

D. Ercegovac, Emilija Beker-Pucar

{"title":"FDI inflows in selected Emerging European economies with reflections on economic growth","authors":"D. Ercegovac, Emilija Beker-Pucar","doi":"10.5937/ekonomika2104011e","DOIUrl":"https://doi.org/10.5937/ekonomika2104011e","url":null,"abstract":"The objective of this paper is to identify the top destination for FDI inflows as well as to analyze related growth progress in selected Emerging European Economies (EEEs) in order to suggest significant implications towards economic policy creators in Western Balkan countries. The authors conducted descriptive statistical analysis together with correlation analysis in the time period 1997-2019. The analysis of average FDI inflows includes following country groups: Visegrad States, Baltic States, Western Balkan and eleven new EU member states with regard to the structural break of Global Financial Crisis (GFC). The results suggest that the Visegrad States (particularly Poland) were the top locations for foreign investors in the analyzed time period. Having in mind a positive correlation link between significant FDI inflows, especially greenfield FDI inflows and economic growth, we suggest that Western Balkan countries should implement adequate measures to attract greater greenfield FDI inflows in order to stimulate real convergence towards developed European economies. Therefore, recommendations are directed towards economic policy of less developed countries of Western Balkan that need to continue to improve the quality of public institutions and infrastructure, as well as business environment and implementation of nonfinancial measures of promotional activities, in order to raise attractiveness of national market for foreign investors.","PeriodicalId":36306,"journal":{"name":"Ekonomika Vilniaus Universitetas","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71211366","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 4

Corporate bonds as a way of financing companies in the Republic of Serbia 公司债券是塞尔维亚共和国公司融资的一种方式

Ekonomika Vilniaus Universitetas Pub Date : 2021-01-01 DOI: 10.5937/ekonomika2104091r

Ljiljana Rajnović, J. Subić

{"title":"Corporate bonds as a way of financing companies in the Republic of Serbia","authors":"Ljiljana Rajnović, J. Subić","doi":"10.5937/ekonomika2104091r","DOIUrl":"https://doi.org/10.5937/ekonomika2104091r","url":null,"abstract":"The security of sources of financing is of undoubted importance for the continuous and sustainable operation of economic entities, which is a long-term interest of persons interested in the operation of economic entities. In the structure of possible sources of financing of economic entities, corporate bonds are of great importance everywhere in the world, and their application in the Republic of Serbia could bring a great contribution to the domestic economy. Corporate bonds are debt obligations issued by corporation to debt refinancing, improvements, expansions or acquisitions. The bondholders are the issuer's creditors and for the money invested in the company, they expect earnings. The main goal of this paper is to consider the conditions and importance of issuing corporate bonds by medium and large companies in Serbia and the advantage over other sources of financing. Based on the obtained research results, it can be concluded that the issuance of bonds is a good alternative to other sources of financing the company's operations, but the corporate bond market in Serbia is in the development phase. Bond issuers with listing on the regulated market of the Belgrade Stock Exchange include, in addition to the state, only certain commercial banks and international financial organizations.","PeriodicalId":36306,"journal":{"name":"Ekonomika Vilniaus Universitetas","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71211435","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Interplay between digital technologies and business performance in banking industry: Global and regional perspectives 数字技术与银行业业务绩效之间的相互作用:全球和区域视角

Ekonomika Vilniaus Universitetas Pub Date : 2021-01-01 DOI: 10.5937/ekonomika2103075m

Ismail Musabegović, Mustafa Ozer, M. Lazić, S. Jovanovic

引用次数: 1

ECB monetary policy during COVID-19 COVID-19期间欧洲央行的货币政策

Ekonomika Vilniaus Universitetas Pub Date : 2021-01-01 DOI: 10.5937/ekonomika2102001p

D. Momirović, Z. Simonović, A. Kostić

{"title":"ECB monetary policy during COVID-19","authors":"D. Momirović, Z. Simonović, A. Kostić","doi":"10.5937/ekonomika2102001p","DOIUrl":"https://doi.org/10.5937/ekonomika2102001p","url":null,"abstract":"This paper aims to point out the monetary policy measures that the European This paper aims to point out the monetary policy measures that the European Central Bank has taken since the outbreak of the COVID-19 crisis. In the Eurozone, at the start of the COVID-19 crisis, financial conditions deteriorated sharply, potentially threatening to worsen the economic outlook, deepen market fragmentation, jeopardize monetary policy transmission, encourage a downward inflationary trajectory, weaken prices and undermine public and private stability. Aware of the new situation of the ECB, it responded quickly and efficiently with coordinated and ambitious measures to alleviate the perceived financial and economic difficulties. To maintain a flexible monetary policy stance, the ECB adopted an interim non-standard measured COVID-19 Asset Purchase Program (PEPP) to mitigate and improve financial conditions and restart an earlier Asset Purchase Program (APP) aimed at inflation expectations. At the same time, other measures have been strengthened and expanded, such as Targeted Long-Term Refinancing Operations (LTROs, TLTRO III, and PLTRO) aimed at providing liquidity ampleness to the real sector and collateral standards. The implementation of the adopted measures has influenced the stabilization of the economic and financial system of the EU and improved lending to corporate and household banks.","PeriodicalId":36306,"journal":{"name":"Ekonomika Vilniaus Universitetas","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71211291","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 1

Corporate culture: Business performance factor of national organizations 企业文化:国家组织的经营绩效因素

Ekonomika Vilniaus Universitetas Pub Date : 2021-01-01 DOI: 10.5937/ekonomika2104029m

Vuk Miletić, N. Ćurčić, Z. Simonović

{"title":"Corporate culture: Business performance factor of national organizations","authors":"Vuk Miletić, N. Ćurčić, Z. Simonović","doi":"10.5937/ekonomika2104029m","DOIUrl":"https://doi.org/10.5937/ekonomika2104029m","url":null,"abstract":"The subject of this paper is to investigate the attitudes of owners and top managers of national organizations from different business sectors on how to increase the chances of the organization becoming competitive by raising the level at which the idea of corporate culture is realized. The paper starts from the assumption that the corporate culture depends on the context in which the organization operates and as such significantly affects performance. Each organization forms its own image in its organizational environment based on the strategy of quality of products and services it provides, the principles of behavior, and the moral principles of employees. Since it affects business performance and attitudes towards work, the corporate culture must be designed to be adapted to each work group. The results of the research show that depending on the decision makers in the organization and the management style, there are significant differences in the organizations in terms of the level at which the idea of corporate culture in the organization is realized. Hypothetical-deductive methods, analytical-deductive and comparative methods, explanatory methods, historical, and statistical-descriptive methods were used in the research.","PeriodicalId":36306,"journal":{"name":"Ekonomika Vilniaus Universitetas","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71211376","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 2

The decline of defined benefit pension plans in developed countries 发达国家固定收益养老金计划的减少

Ekonomika Vilniaus Universitetas Pub Date : 2021-01-01 DOI: 10.5937/ekonomika2103019l

Stevan Luković, Marko Savićević

引用次数: 0