发布求助
文献互助 智能选刊 最新文献

Baltic Journal of Economics最新文献

筛选
英文 中文
Non-performing loans in Baltic States: determinants and macroeconomic effects 波罗的海国家的不良贷款：决定因素和宏观经济影响
IF 1.1 3区 经济学
Baltic Journal of Economics Pub Date : 2017-01-02 DOI: 10.1080/1406099X.2016.1246234
Jordan Kjosevski, Mihail Petkovski
{"title":"Non-performing loans in Baltic States: determinants and macroeconomic effects","authors":"Jordan Kjosevski, Mihail Petkovski","doi":"10.1080/1406099X.2016.1246234","DOIUrl":"https://doi.org/10.1080/1406099X.2016.1246234","url":null,"abstract":"ABSTRACT This study analyses the linkages between macroeconomic and bank-specific determinants of non-performing loans (NPLs) and their impact on macroeconomic performance in the Baltic States using two complementary approaches. First, we examine the macroeconomic and bank-specific determinants of NPLs for a panel of 27 banks from the Baltics using annual data for the period 2005–2014. The most important macroeconomic factors are GDP growth, inflation and domestic credit to the private sector. As for the bank-specific determinants, we found that the equity to total assets ratio, return on assets, the return on equity and the growth of gross loans were of importance. Second, we investigate the feedback between NPLs and its macroeconomic determinants. The results suggest that the real economy responds to NPLs and that there are strong feedback effects from macroeconomic conditions such as domestic credit to private sector, GDP growth, unemployment and inflation to NPLs.","PeriodicalId":43756,"journal":{"name":"Baltic Journal of Economics","volume":"17 1","pages":"25 - 44"},"PeriodicalIF":1.1,"publicationDate":"2017-01-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/1406099X.2016.1246234","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46662915","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 67
Work incentives across the income distribution and for model families in Lithuania: 2005–2013 立陶宛收入分配和模范家庭的工作激励:2005-2013年
IF 1.1 3区 经济学
Baltic Journal of Economics Pub Date : 2016-07-02 DOI: 10.1080/1406099X.2016.1205407
Jekaterina Navickė, Romas Lazutka
{"title":"Work incentives across the income distribution and for model families in Lithuania: 2005–2013","authors":"Jekaterina Navickė, Romas Lazutka","doi":"10.1080/1406099X.2016.1205407","DOIUrl":"https://doi.org/10.1080/1406099X.2016.1205407","url":null,"abstract":"ABSTRACT The aim of this paper is to evaluate the impact of cash social benefits on work incentives across the income distribution and among selected model family types in Lithuania. The analysis of work incentives was carried out for 2005–2013 based on a combination of measures estimated using the EUROMOD tax–benefit microsimulation model. The analysis revealed high disincentives to work at the bottom of the income distribution, dominated by the effect of cash social benefits compared to taxes or social insurance contributions. A strong trade-off between benefit adequacy and work incentives is built into the design of the national cash benefit system, particularly social assistance. The challenge for policy design is thus to encourage active labour market participation among low earners without eroding the minimum income protection floor.","PeriodicalId":43756,"journal":{"name":"Baltic Journal of Economics","volume":"16 1","pages":"175 - 191"},"PeriodicalIF":1.1,"publicationDate":"2016-07-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/1406099X.2016.1205407","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"60299511","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 10
Internal labour market mobility in 2005–2014 in Latvia: the micro data approach 拉脱维亚2005-2014年内部劳动力市场流动性:微观数据方法
IF 1.1 3区 经济学
Baltic Journal of Economics Pub Date : 2016-06-30 DOI: 10.1080/1406099X.2016.1196872
Ludmila Fadejeva, Ieva Opmane
{"title":"Internal labour market mobility in 2005–2014 in Latvia: the micro data approach","authors":"Ludmila Fadejeva, Ieva Opmane","doi":"10.1080/1406099X.2016.1196872","DOIUrl":"https://doi.org/10.1080/1406099X.2016.1196872","url":null,"abstract":"ABSTRACT Based on labour force survey micro data for 2005–2014 this research evaluates labour market internal mobility in Latvia comparing periods before, during and after the crisis. We also provide the comparison of Latvia’s situation with other euro area countries, which is of particular interest since labour flow statistics for Latvia are not present in major reports on the European labour market. Labour flow estimates and the survival analysis indicate that labour market in Latvia is internally mobile; it accelerated economic recovery after the crisis and is enhancing Latvia’s ability to adjust quickly to internal and external shocks. The flexibility of contract options and working hours, serve as a labour market mobility boosting mechanism. The survival analysis indicates that the flows from/to employment to/from unemployment in Latvia are determined by the characteristics of particular worker groups and the performance of particular sectors of the economy.","PeriodicalId":43756,"journal":{"name":"Baltic Journal of Economics","volume":"16 1","pages":"152 - 174"},"PeriodicalIF":1.1,"publicationDate":"2016-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/1406099X.2016.1196872","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"60299410","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 6
Productivity clustering and growth in Central and Eastern Europe 中欧和东欧的生产力集聚和增长
IF 1.1 3区 经济学
Baltic Journal of Economics Pub Date : 2016-06-08 DOI: 10.1080/1406099X.2016.1189267
M. Niţoi, M. Pochea
{"title":"Productivity clustering and growth in Central and Eastern Europe","authors":"M. Niţoi, M. Pochea","doi":"10.1080/1406099X.2016.1189267","DOIUrl":"https://doi.org/10.1080/1406099X.2016.1189267","url":null,"abstract":"ABSTRACT This article uses a non-linear time-varying model to test productivity convergence in 10 emerging countries within Central and Eastern Europe. The results show that the convergence algorithm has rejected the null hypothesis of convergence for all countries in most of the sectors. Also, we found evidence that the productivity clusters for total economy and other sectors are very different in terms of number and countries. Additionally, even if the productivity gaps in the region have been reduced, we still notice significant disparities between countries. The clustering algorithm shows countries which have a high productivity growth in some sectors and a low productivity growth in others. This reveals the prevalence of idiosyncratic factors in productivity determinants. Baltic countries are catching up, while other countries such as Bulgaria are underperformers.","PeriodicalId":43756,"journal":{"name":"Baltic Journal of Economics","volume":"16 1","pages":"132 - 151"},"PeriodicalIF":1.1,"publicationDate":"2016-06-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/1406099X.2016.1189267","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"60299299","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 6
Investor education and trading activity on the stock market 股票市场上的投资者教育和交易活动
IF 1.1 3区 经济学
Baltic Journal of Economics Pub Date : 2016-05-30 DOI: 10.1080/1406099X.2016.1189058
Kristjan Liivamägi
{"title":"Investor education and trading activity on the stock market","authors":"Kristjan Liivamägi","doi":"10.1080/1406099X.2016.1189058","DOIUrl":"https://doi.org/10.1080/1406099X.2016.1189058","url":null,"abstract":"ABSTRACT This study analyses how investors’ educational characteristics affect their trading activity on the stock market. It uses a unique dataset from the Tallinn Stock Exchange, covering all transactions of a full business cycle from 2004 to 2012, along with a dataset containing the official educational background for all individual investors. Applying an ordered logit regression model and controlling for gender, age, wealth, portfolio diversification and average stock holding period, this study provides empirical evidence that the investors with top results in national exams or the investors holding an academic degree trade stocks more actively. The opposite is true for the investors with no academic degree as they trade stocks less actively. Analysing investors’ risk-adjusted performance reveals that trading experience in the form of trading activity is the contributing factor for higher returns on the stock market.","PeriodicalId":43756,"journal":{"name":"Baltic Journal of Economics","volume":"16 1","pages":"114 - 131"},"PeriodicalIF":1.1,"publicationDate":"2016-05-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/1406099X.2016.1189058","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"60299180","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 22
Firm exporting and productivity: what if productivity is no longer a black box 企业出口与生产力:如果生产力不再是黑盒子会怎样
IF 1.1 3区 经济学
Baltic Journal of Economics Pub Date : 2016-05-29 DOI: 10.1080/1406099X.2016.1187382
H. Vu, Mark J. Holmes, T. Tran, Steven Lim
{"title":"Firm exporting and productivity: what if productivity is no longer a black box","authors":"H. Vu, Mark J. Holmes, T. Tran, Steven Lim","doi":"10.1080/1406099X.2016.1187382","DOIUrl":"https://doi.org/10.1080/1406099X.2016.1187382","url":null,"abstract":"ABSTRACT This paper uses Vietnamese firm-level data to examine the relationship between firm productivity and exporting. In particular, this paper shows that more productive firms are more likely than less productive firms to export, consistent with the extensive prior literature. However, this paper finds no evidence that exporting affects productivity, which can be decomposed into technical efficiency change, technological progress, and scale change. Thus, the findings support a large role of self-selection in accounting for export decision, but little gain from learning-by-exporting in the case of Vietnamese Small medium sized enterprises (SMEs). These findings imply that export promotion policies may not be effective unless accompanied by strategies to help SMEs become more productive.","PeriodicalId":43756,"journal":{"name":"Baltic Journal of Economics","volume":"16 1","pages":"113 - 95"},"PeriodicalIF":1.1,"publicationDate":"2016-05-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/1406099X.2016.1187382","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"60299488","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 28
Should pension funds hedge currency risk? The case of Poland 养老基金应该对冲汇率风险吗?波兰的例子
IF 1.1 3区 经济学
Baltic Journal of Economics Pub Date : 2016-05-28 DOI: 10.1080/1406099X.2016.1187429
Radosław Kurach, Daniel Papla
{"title":"Should pension funds hedge currency risk? The case of Poland","authors":"Radosław Kurach, Daniel Papla","doi":"10.1080/1406099X.2016.1187429","DOIUrl":"https://doi.org/10.1080/1406099X.2016.1187429","url":null,"abstract":"ABSTRACT In this study, we identify the optimal hedge ratio for mandatory pension funds, defining the optimum as the value that minimizes the portfolio variance in accordance with the social objective of the mandatory pension system. Unlike most previous studies, we apply a dynamic framework to account for a regular inflow of contributions and impose specific investment constraints that make the simulation more realistic. Our outcomes challenge the conventional knowledge concerning the need for currency hedging. We discover that in the case of Poland, shortening the currency positions is undesirable, as it amplifies the portfolio variance. Moreover, we provide evidence that pension funds should internationalize their portfolios even further to fully exploit the available diversification gains. Finally, the obtained simulation results are matched with real data. The comparison presented tends to beg the question of how to overcome the home bias phenomenon.","PeriodicalId":43756,"journal":{"name":"Baltic Journal of Economics","volume":"16 1","pages":"81 - 94"},"PeriodicalIF":1.1,"publicationDate":"2016-05-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/1406099X.2016.1187429","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"60299594","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 3
Fundamental housing prices in the Baltic States: empirical approach 波罗的海国家基本房价:实证方法
IF 1.1 3区 经济学
Baltic Journal of Economics Pub Date : 2016-04-24 DOI: 10.1080/1406099X.2016.1173446
Darius Kulikauskas
{"title":"Fundamental housing prices in the Baltic States: empirical approach","authors":"Darius Kulikauskas","doi":"10.1080/1406099X.2016.1173446","DOIUrl":"https://doi.org/10.1080/1406099X.2016.1173446","url":null,"abstract":"ABSTRACT This paper investigates if the imbalances in the Baltic residential real estate markets that were mounting up prior the crisis of 2008–2009 could have been detected in real time. It develops an empirical framework comprised of various empirical techniques for assessing housing price misalignments from their fundamental prices. For this purpose, several statistical indicators (price-to-rent ratio, price-to-income ratio, price deviations from Hodrick-Prescott filtered trend) together with the estimates from equilibrium equations are computed. The use of those indicators in a consistent graphical framework reduce the uncertainty associated with using only a single metric and allows to arrive to clearer conclusions about residential real estate price misalignments. It is shown that the framework would have been able to identify the overvaluation in the residential real estate markets in the Baltics as early as in 2005.","PeriodicalId":43756,"journal":{"name":"Baltic Journal of Economics","volume":"16 1","pages":"53 - 80"},"PeriodicalIF":1.1,"publicationDate":"2016-04-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/1406099X.2016.1173446","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"60299388","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 9
Randomness or stock–flow: which mechanism describes labour market matching in Poland? 随机性还是存量流动:哪个机制描述了波兰的劳动力市场匹配?
IF 1.1 3区 经济学
Baltic Journal of Economics Pub Date : 2016-04-01 DOI: 10.1080/1406099X.2017.1344481
Ewa Gałecka-Burdziak
{"title":"Randomness or stock–flow: which mechanism describes labour market matching in Poland?","authors":"Ewa Gałecka-Burdziak","doi":"10.1080/1406099X.2017.1344481","DOIUrl":"https://doi.org/10.1080/1406099X.2017.1344481","url":null,"abstract":"ABSTRACT I identify which theoretical model (random, stock–flow, or job queuing) best describes the matching mechanism in the labour market in Poland. The purpose of this work is to formulate policy recommendations aimed at increasing the number of matches. I use monthly registered unemployment data for the period January 1999–June 2013 and econometrically correct for temporal aggregation bias in the data. I extend known solutions and apply them directly to a job queuing model. Job seekers (from the pool) seek work among old and new job posts, but only a small fraction of the newly unemployed individuals find work quickly. Vacancies are the driving force in aggregate hiring, but the inflow is more important than the stock. The random model has greater explanatory power, although the results do not negate the non-random model. Hence, better information and higher inflows (especially of job offers) should facilitate matching.","PeriodicalId":43756,"journal":{"name":"Baltic Journal of Economics","volume":"17 1","pages":"119 - 135"},"PeriodicalIF":1.1,"publicationDate":"2016-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/1406099X.2017.1344481","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"60300043","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 4
Survey measures of inflation expectations in Poland: are they relevant from the macroeconomic perspective? 波兰通胀预期的调查措施:从宏观经济角度看，它们是否相关?
IF 1.1 3区 经济学
Baltic Journal of Economics Pub Date : 2016-01-02 DOI: 10.1080/1406099X.2016.1165402
Tomasz Łyziak
{"title":"Survey measures of inflation expectations in Poland: are they relevant from the macroeconomic perspective?","authors":"Tomasz Łyziak","doi":"10.1080/1406099X.2016.1165402","DOIUrl":"https://doi.org/10.1080/1406099X.2016.1165402","url":null,"abstract":"ABSTRACT This paper estimates different versions of the stylized New Keynesian model of the Polish economy, in which alternative measures of inflation expectations are used, that is, model-consistent (rational) expectations and survey-based expectations of consumers, enterprises and financial sector analysts. To compare dynamic properties of the models, we analyse propagation of the interest rate impulse, exchange rate impulse and a permanent change of inflation target. Differences in impulse responses pose the question which model should be treated as the most adequate. Analysis of in-sample inflation forecasting errors suggests that the model with rational expectations displays the lowest forecasting accuracy, while the model using expectations of enterprises is the best-performing model. In more general terms, our analysis suggests the best way of exploiting survey data on inflation expectations is not by using them as separate forward-looking information, alternative to macroeconomic models, but by combining both types of information.","PeriodicalId":43756,"journal":{"name":"Baltic Journal of Economics","volume":"16 1","pages":"33 - 52"},"PeriodicalIF":1.1,"publicationDate":"2016-01-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/1406099X.2016.1165402","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"60299337","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 14
首页 上一页 下一页 尾页
0
×
引用
GB/T 7714-2015
复制
MLA
复制
APA
复制
导出至
BibTeX EndNote RefMan NoteFirst NoteExpress
×
提示
您的信息不完整，为了账户安全，请先补充。
现在去补充
×
提示
您因"违规操作"
具体请查看互助需知
我知道了
×
提示
现在去查看 取消
×
提示
确定
请完成安全验证×
相关产品
×
本文献相关产品
联系我们：info@booksci.cn Book学术提供免费学术资源搜索服务，方便国内外学者检索中英文文献。致力于提供最便捷和优质的服务体验。 Copyright © 2023 布克学术 All rights reserved.
京ICP备2023020795号-1
ghs 京公网安备 11010802042870号
Book学术文献互助
Book学术文献互助群
群 号：481959085
Book学术官方微信