Articles by visiting researchers

One particularly important resource for BOFIT's research is Visiting Researchers Programme. The main outlet for articles written by visiting researchers is BOFIT Discussion Paper series. Visiting researchers also publish widely in relevant journals.

Dr. Sergey Alexashenko, 15.01.-30.06.1992 League of Scientific and Industrial Associations of the USSR, Moscow
Verojen ja tulonsiirtojen jakautuminen entisessä Neuvostoliitossa Idäntalouksien katsauksia 7/1992 The Collapse of the Soviet Fiscal System: What Should Be Done? Review of Economies in Transition 4/1992 General Remarks on the Speed of Transformation in the Socialist Countries Review of Economies in Transition 3/1992 The Free Exchange Rate in Russia: Policy, Dynamics, and Projections for the Future Review of Economies in Transition 3/1992
Ph.D. Stanislav Anatolyev, 1.1.-30.4.2005 New Economic School, Moscow, Russia
A ten-year retrospection of the behavior of Russian stock returns BOFIT Discussion Papers 9/2005
Dr. Boris Brodsky, 1.11.1996-28.2.1997 Higher School of Economics, Moscow, Russia
Dollarization and Monetary Policy in Russia Review of Economies in Transition 3/2002
Dr. Nauro F. Campos, 5.4.-11.6.2004 University of Newcastle, UK
Does reform work? An econometric examination of the reform-growth puzzle co-written with Ian Babetskii BOFIT Discussion Papers 12/2007 Estimating the Determinants of Foreign Direct Investment Inflows: How Important are Sampling and Omitted Variable Biases? co-written with Yuko Kinoshita BOFIT Discussion Papers 10/2004
Ph D. Abdur Chowdhury, 1.9.2002-31.8.2003 Marguette University, USA
Selecting inflation indicators under an inflation targeting regime: evidence from the MCL method co-written with Juha-Pekka Koskinen and Tuuli Koivu BOFIT Discussion Papers 16/2004 Do asymmetric terms of trade shocks affect private savings in a transition economy? BOFIT Discussion Papers 3/2003 Published in: Comparative Economic Studies vol. 46 4 (2004) pp. 487–514, ISSN 0888-7233 (Private Savings in Transition Economies: Are there Terms of Trade Shocks?) WTO accession: What's in it for Russia? BOFIT Online 10/2003 Banking reform in Russia: Winds of change? BOFIT Online 5/2003
Ph.Student in Ec. Sophie Claeys, 1.1. - 30.4.2005 Ghent University, Belgium
Optimal regulatory design for the Central Bank of Russia BOFIT Discussion Papers 7/2005 Bank supervision Russian style: Rules versus enforcement and tacit objectives co-written with Gleb Lanine and Koen Schoors BOFIT Discussion Papers 10/2005
Ph.D. Rasa Dale, 01.07.1996-31.12.1996 University of California, USA
Currency Boards Review of Economies in Transition 7/1997
Mag.rer.soc.oec. Sandra Dvorsky, 16.5.-16.6.2000 Oesterreichische Nationalbank, Austria
Measuring Central Bank Independence in Selected Transition Countries and the Disinflation Process BOFIT Discussion Papers 13/2000
Ph.D. Balázs Égert, 29.11.2004 - 28.1.2005 The Oesterreichische Nationalbank (OeNB), Vienna, Austria
Dutch disease scare in Kazakhstan: Is it real? co-written with Carol S. Leonard BOFIT Discussion Papers 9/2007 Monetary transmission mechanism in Central and Eastern Europe: Gliding on a wind of change co-written with Fabrizio Coricelli and Ronald MacDonald BOFIT Discussion Papers 8/2006 Exchange rate regimes, foreign exchange volatility and export performance in Central and Eastern Europe: Just another blur project? co-written with Amalia Morales-Zumaquero BOFIT Discussion Papers 8/2005 Equilibrium exchange rates in Central and Eastern Europe: A meta-regression analysis co-written with László Halpern BOFIT Discussion Papers 4/2005 Published in: Journal of Economic Surveys, Vol. 20, 2, pp. 257-324 Equilibrium exchange rates in Southeastern Europe, Russia, Ukraine and Turkey: Healthy or (Dutch) diseased? BOFIT Discussion Papers 3/2005 Published in: Economic Systems vol. 29, no 2 (2005) pp. 123-282. ISSN 0939-3625 Equilibrium exchange rates in the transition: The tradable price-based real appreciation and estimation uncertainty co-written with Kirsten Lommatzsch BOFIT Discussion Papers 9/2004 Assessing equilibrium exchange rates in CEE acceding countries: Can we have DEER with BEER without FEER? A critical survey of the literature BOFIT Discussion Papers 1/2004 Investigating the Balassa-Samuelson hypothesis in transition: Do we understand what we see? BOFIT Discussion Papers 6/2002 Published in: Economics of Transition vol 10, no 2 (2002) pp. 273-309, ISSN 0967-0750.
Ph.D. Vladimir R. Evstigneev, 1.8.-31.10.1998 Institute of World Economy and International Relations, Moscow, Russia
Estimating the Opening-Up Shock: an Optimal Portfolio Approach to Would-be Integration of the C.I.S. Financial Markets Review of Economies in Transition 6/1998
Dr. Jarko Fidrmuc, 1.4.-31.5.2003 The Oesterreichische Nationalbank (OeNB), Vienna, Austria
A meta-analysis of business cycle correlation between the euro area and CEECs: What do we know – and who cares? co-written with Iikka Korhonen BOFIT Discussion Papers 20/2004 The monetary approach to exchange rates in the CEECs co-written with Jesús Crespo-Cuaresma and Ronald McDonald BOFIT Discussion Papers 14/2003 Published in: Economics of Transition vol 13, no 2 (2005) pp. 395-416. ISSN 0967-0750. The Euro goes East: Implications of the 2000-2002 economic slowdown for synchronisation of business cycles between the euro area and CEEs co-written with Iikka Korhonen BOFIT Discussion Papers 6/2003 Published in: Comparative Economic Studies vol. 46 no 1 (2004) pp. 45-62, ISSN 0888-7233. Similarity of supply and demand shocks between the Euro area and the CEECs co-written with Iikka Korhonen BOFIT Discussion Papers 14/2001 Published in: Economic Systems vol 27, no 3 (2003), pp. 313-334, ISSN 0939-3625. The Endogeneity of optimum currency area criteria, intraindustry trade and EMU enlargement BOFIT Discussion Papers 8/2001 Published in: Contemporary Economic Policy vol. 22, no 1 (2004) pp. 1-12, ISSN 1074-3529. The Impact of the Russian Crisis on Selected Central and Eastern European Countries co-written with Peter Backé BOFIT Online 9/2000
Ph.D. candidate Zuzana Fungacova, 1.3.–30.6.06 CERGE-EI, Czech Republic
A castle built on sand: The effects of mass privatization on stock market creation in transition economies co-written with Jan Hanousek BOFIT Discussion Papers 14/2006
Professor Michael Funke, 23.5.-12.6.07 • 26.5.-11.6.06 • 12.5.-28.5.05 • 31.5.-16.6.04 • 5.5.-13.6.03 Hamburg University, Germany
Volatility transmissions between renminbi and Asia-Pacific on-shore and off-shore U.S. dollar futures co-written with Roberta Colavecchio BOFIT Discussion Papers 16/2006 Taking the temperature – forecasting GDP growth for mainland China co-written with Declan Curran BOFIT Discussion Papers 6/2006 Inflation in mainland China – modelling a roller coaster ride BOFIT Discussion Papers 6/2005 Just how undervalued is the Chinese renminbi? co-written with Jörg Rahn BOFIT Discussion Papers 14/2004 Published in: World Economy vol. 28, no 4 (2005) pp. 465-489. ISSN 0378-5920. Trade, product variety and welfare: A quantitative assessment for the transition economies in Central and Eastern Europe co-written with Ralf Ruhwedel BOFIT Discussion Papers 17/2003 Taxation, growth and welfare: Dynamic effects of Estonia's 2000 income tax act co-written with Holger Strulik BOFIT Discussion Papers 10/2003 Published in: Finnish Economic Papers vol 19, no 1 (2006) pp. 25-38, ISSN 0784-5197 Export variety and economic growth in East European transition economies co-written with Ralf Ruhwedel BOFIT Discussion Papers 8/2003 Published in: Economics of Transition vol 13, no 1 (2005) pp. 25-50. ISSN 0967-0750. Determining the taxation and investment impacts of Estonia's 2000 income tax reform BOFIT Online 15/2001
Senior Economist Alicia Garcia-Herrero, 19.6.-20.6.2006 Bank for International Settlements, Hong Kong, China
Can the Chinese trade surplus be reduced through exchange rate policy? co-written with Tuuli Koivu BOFIT Discussion Papers 6/2007
Dr. Eugene E. Gavrilenkov, 15.11.1993-15.02.1994 Center of Economic Analysis, Moscow
"Monetarism" and Monetary Policy in Russia Review of Economies in Transition 7/1994 Macroeconomic Crisis and Price Distortions in Russia Review of Economies in Transition 3/1994 Russia: Out of the Post-Soviet Macroeconomic Deadlock through a Labyrinth of Reforms Review of Economies in Transition 3/1994
Ph.D. Economics Konstantin Gluschenko, 1.9.- 31.12.2005 Institute of Economics and Industrial Engineering, SB RAS, Novosibirsk, Russia
Biases in cross-space comparisons through cross-time price indexes: The case of Russia BOFIT Discussion Papers 9/2006 Russia’s common market takes shape: Price convergence and market integration among Russian regions BOFIT Discussion Papers 7/2006 Assessing a feasible degree of product market integration.(A pilot analysis) co-written with Darya Kulighina BOFIT Discussion Papers 3/2006
Ph.D. Kari Heimonen, 01.01.- 30.6.2001 University of Jyväskylä, School of Business and Economics, Finland
Substituting a Substitute Currency - The Case of Estonia BOFIT Discussion Papers 11/2001
MA (Ec) Antje Hildebrandt, 25.2.-13.5.2002 Humboldt University, Berlin, Germany
Too many to fail? Inter-enterprise arrears in transition economies BOFIT Discussion Papers 11/2002 What is Special about Enlarging the European Union towards the East? A Comparison with the Southern Enlargement BOFIT Online 13/2002
Professor Julius Horvath, 21.7.-12.9.2003 Central European University, Budapest, Hungary
Price variability and the speed of adjustment to the law of one price: Evidence from Slovakia co-written with Stanislav Vidovic BOFIT Discussion Papers 3/2004
Dr. Miroslav Hrncir, 15.06.-15.08.1992 State Bank of Czech Republic
The Exchange Rate Regime and Economic Recovery Review of Economies in Transition 2/1993 Foreign Trade and Exchange Rate in Czechoslovakia: Challenges of the Transition and Economic Recovery Review of Economies in Transition 6/1992
Ph.D. Economics Vladimir Ivanenko, 1.5.-31.8.2005 University of Western Ontario, Canada
Markets and democracy in Russia BOFIT Discussion Papers 16/2005
Dr. Kamil Janácek, 16.03.-15.05.1992 Komercni Banka, Czech Republic
Privatization in Czechoslovakia co-written with Stanislava Janácková Review of Economies in Transition 4/1992 Transformation of Czechoslovakia's Economy: Results, Prospects, Open Issues Review of Economies in Transition 3/1992
Emilia Jurzyk, 13.9.-19.11.2004 K.U. Leuven, Belqium
Profitability of foreign banks in Central and Eastern Europe: Does the entry mode matter? co-written with Olena Havrylchyk BOFIT Discussion Papers 5/2006
PhD candidate Katerina Kalcheva, 31.1.–23.5.06 Ludwig Maximilian University, Germany
Diagnosing Dutch disease: Does Russia have the symptoms? co-written with Nienke Oomes BOFIT Discussion Papers 7/2007
Lic.Sc. (Econ.) Leena Kerkelä, 1.8.-31.12.2003 Government Institute for Economic Research, VATT, Finland
Distortion costs and effects of price liberalisation in Russian energy markets: A CGE analysis BOFIT Discussion Papers 2/2004
Dr. Byung-Yeon Kim, 1.4.-30.9.2001 • 1.8.-30.9.2000 University of Essex, Colchester, UK
The political economy of reforms: Empirical evidence from post-communist transition in the 1990s co-written with Jukka Pirttilä BOFIT Discussion Papers 4/2003 Equilibrium Exchange Rates in Transition Countries: Evidence from Dynamic Heterogeneous Panel Models co-written with Iikka Korhonen BOFIT Discussion Papers 15/2002 Published in: Economic Systems vol 29, no 2 (2005), pp. 144-162, ISSN 0939-3625 Determinants of Inflation in Poland: A Structural Cointegration Approach BOFIT Discussion Papers 16/2001 Money, Barter and Inflation in Russia co-written with Jukka Pirttilä and Jouko Rautava BOFIT Discussion Papers 15/2001 Published in: Journal of Comparative Economics vol 32, no 2 (2004) pp. 197-373, ISSN 0147-5967. The Dynamics of Moonlighting: What is happening in the Russian informal economy? co-written with Alessandra Guariglia BOFIT Discussion Papers 5/2001 Published in: Journal of Population Economics Vol. 17 (2004) pp. 289–310, ISSN 0933-1433 (Earnings uncertainty, precautionary saving, and moonlighting in Russia). Causes of repressed inflation in the Soviet consumer market: Retail price subsidies, the siphoning effect, and the budget deficit BOFIT Discussion Papers 9/2000 Published in: Economic History Review vol 55, no 1 (2002) pp. 105-127, ISSN 0013-0117.
Ph D. Jerzy D. Konieczny, 3.7.-15.8.2002 Wilfrid Laurier University, Canada
Some benefits of reducing inflation in transition economies co-written with Monika Blaszkiewicz, Anna Myslinska, Artur Radziwil and Przemyslaw Wozniak BOFIT Discussion Papers 16/2002
Dr. Urszula Kosterna, 15.9.-16.11.1997 CASE Centre for Social and Economic Reserch, Warsaw, Poland
On the Road to the European Union – Some Remarks on Budgetary Performance in Transition Economies Review of Economies in Transition 2/1998
A.M. Toivo Kuus, 20.1.-20.7.1997 Estonian Institute of Economics, Estonia
Estonia and EMU Prospects Review of Economies in Transition 7/1997
M. Sc.(Ec.) Barbara Lehmbruch, 15.2.-31.3.1999 Department of Political Science, University of California at Berkeley, USA
Managing uncertainty: Hierarchies, Markets and "Networks" in the Russian Timber Industry. 1991-1998 BOFIT Discussion Papers 4/1999
MSoc Sc Johanna Lukkarila, 1.1.-31.3.2004 • 1.9.-31.12.2002 University of Helsinki, Economics Department, Finland
What drives financial crises in emerging markets? co-written with Tuomas Komulainen BOFIT Discussion Papers 5/2003 Published in: Emerging Markets Review vol 4, no 3 (2003) pp. 248-272, ISSN 1566-0141.
Ph.D. Nannan Lundin, 1.1.-30.4.2005 Örebro University & FIEF, Stockholm, Sweden
S&T activities and firm performance – microeconomic evidence from manufacturing in Shanghai co-written with Pingfang Zhu and Lei Li BOFIT Discussion Papers 5/2005
M. Sc.(Ec.) Malgorzata Markiewicz, 23.5.-31.7.2000 • 1.9.-15.12.2000 CASE Centre for Social and Economic Reserch, Poland
Quasi-fiscal operations of central banks in transition economies BOFIT Discussion Papers 2/2001
Senior Economist Alexei Medvedev, 01.01.-31.3.2001 Central Bank of Russian Federation, Monetary policy division, Moscow, Russia
International investors, contagion and the Russian crisis BOFIT Discussion Papers 6/2001
Dr. Yury V. Mishalchenko, 01.05.-30.06.1995 Saint-Petersburg University of Economics and Finance, Russia
The Taxation of Banks in Russia co-written with Niina Pautola Review of Economies in Transition 9/1995
MSc Alexander Muravyev, 15.5.-31.8.2002 Russian-European Centre for Economic Policy, Moscow, Russia
Federal state shareholdings in Russian companies: Origin, forms and consequences for enterprise performance BOFIT Discussion Papers 12/2002 Published in: Voprosy ekonomiki no 5 (2003), pp. 101-120, ISSN 0042-8736 (in Russian: Gosudarstvennyje pakety aktsij v rossijskih kompanijah).
Ph D. Eugene Nivorozhkin, 13.1.-9.5.2003 Gothenburg University, Sweden
Financing choices of firms in EU accession countries BOFIT Discussion Papers 6/2004 Published in: Emerging Markets Review vol. 6, no 2 (2005) pp. 138-169. ISSN 1566-0141. The dynamics of capital structure in transition economies BOFIT Discussion Papers 2/2003 Published in: Economics of Planning vol 37, no 1 (2004) pp. 25-45, ISSN 0013-0451.
Dr. Gábor Oblath, 01.10.-31.12.1992 Kopint-Datorg, Budapest, Hungary
Real Exchange Rate Changes and Exchange Rate Policy under Economic Transformation in Hungary and Central-Eastern Europe Review of Economies in Transition 2/1993 Interpreting and Implementing Currency Convertibility in Central and Eastern Europe: a Hungarian Perspective Review of Economies in Transition 2/1993
Dr. Nina Oding, 15.02.-15.05.1995 Leontief, International Centre for Social and Economic Research, St. Petersburg, Russia
Investment needs of the St.Petersburg Economy and the Possibilities to meeting them Review of Economies in Transition 6/1995 Evolution of the Budgeting Process in St. Petersburg Review of Economies in Transition 4/1995
Ph.D. Anatoly Peresetsky, 23.8.- 3.12.2004 Russian Academy of Science, Russia
Russian banks´ private deposit interest rates and market discipline co-written with A. M. Karminsky, S. V. Golovan BOFIT Discussion Papers 2/2007 Probability of default models of Russian banks co-written with Alexandr A. Karminsky and Sergei V. Golovan BOFIT Discussion Papers 21/2004
Dr. Viktor Polterovich, 5.7.-5.9.1999 Russian Academy of Science, Central Economics and Mathematics Institute, New Economic School, Moscow, Russia
Employment - wage decisions in the insider-owned firm BOFIT Discussion Papers 1/2000
Ph.D. Tatiana Popova, 01.04.-30.09.1996 International Fund for Economic and Social Reforms "Reforma", Moscow, Russia
Financial-Industrial Groups (FIGs) and Their Roles in the Russian Economy Review of Economies in Transition 7/1998 Challenges to Reforming Russia's Tax System co-written with Merja Tekoniemi Review of Economies in Transition 1/1998 The Cultural Consequences of Russian Reform Review of Economies in Transition 4/1997 Social Consequences of Economic Reform in Russia co-written with Merja Tekoniemi Review of Economies in Transition 5/1996
Ph.D. Eugenio Proto, 1.-30.7.2004 University of Bristol, UK
Growth expectations and banking system fragility in developing economies BOFIT Discussion Papers 13/2005
Ph.D. William Pyle, 2.6.-31.8.2006 Middlebury College, USA
Sophisticated discipline in a nascent deposit market: Evidence from post-communist Russia co-written with Alexei Karas and Koen Schoors BOFIT Discussion Papers 13/2006
Professor Steven Rosefielde, 26.2.-1.7.2004 University of North Carolina, USA
An abnormal country BOFIT Discussion Papers 15/2004 Published in: The European Journal of Comparative Economics vol. 2, no 1 (2005) pp. 3-16. ISSN 1824-2979.
Ph.D. Vadims Sarajevs, 1.9.2001-28.2.2002 • 1.9.1999-31.8.2000 Queen Mary & Westfield College, University of London, UK
Convergence of European Transition Economies and the EU: What Do the Data Show? BOFIT Discussion Papers 13/2001 Money Shocks in a Small Open Economy with Dollarization, Factor Price Rigidities, and Non-tradeables BOFIT Discussion Papers 12/2000 Econometric Analysis of Currency Substitution: A Case of Latvia BOFIT Discussion Papers 14/2000 Macroeconomic Model of Transition Economy: A Stochastic Calculus Approach BOFIT Discussion Papers 7/1999 Published in: Ekonomia vol 4, no 2 (2000) pp. 192-219, ISSN 1025-5508.
Dr. Urmas Sepp, 01.11.1994-30.04.1995 Bank of Estonia, Estonia
Estonia's Transition to a Market Economy 1995 Review of Economies in Transition 5/1999 A Note on Inflation under the Estonian Currency Board Review of Economies in Transition 4/1995 Inflation in Estonia: the Effect of Transition Review of Economies in Transition 2/1995 Financial Intermediation in Estonia Review of Economies in Transition 2/1995
Dr. Inna Shteinbuka, 01.02.-31.07.1993 Ministry of Finance of Republic of Latvia, Latvia
The Baltics' ways: Intentions, Scenarios, Prospects Review of Economies in Transition 8/1993 Latvia in Transition: First Challenges and First Results Review of Economies in Transition 8/1993 Industry Policy in Transition: the Case of Latvia Review of Economies in Transition 8/1993
Ph.D. Rupinder Singh, 15.12.1998-31.7.1999 CETRAN, Lisbon, Portugal
Sequential reform strategy: The case of Azerbaijan co-written with Juhani Laurila BOFIT Discussion Papers 8/2000 Published in: Journal of Banking & Finance vol 27, no 12 (December 2003), pp. 2249-2271, ISSN 0378-4266. Bank Regulation, Compliance and Enforcement BOFIT Discussion Papers 2/2000 Political Stability and Consensus: Keys to Sustainable Transition BOFIT Online 2/2000 Azerbaijan: Recent Economic Developments and Policy Issues in Sustainability of Growth co-written with Juhani Laurila BOFIT Discussion Papers 5/1999
M.A. Ph D. Candidate Natalia Smirnova, 12.5.-8.8.2003 University of Connecticut, USA
Job search behavior of unemployed in Russia BOFIT Discussion Papers 13/2003
Ph D. Karsten Staehr, 1.9.-31.12.2002 Central Bank of Norway, International department, Norway
Reforms and economic growth in transition economies: Complementarity, sequencing and speed BOFIT Discussion Papers 1/2003
Dr. Sergei F. Sutyrin, 15.10.-15.12.1995 • 01.03.-31.03.1996 • 15.10.-15.12.1996 St. Petersburg State University, Russia
Russia's International Economic Strategy: A General Assessment Review of Economies in Transition 4/1997 Trends and Perspectives in Sino-Russian Trade co-written with Ludmila V. Popova Review of Economies in Transition 4/1997 The Transport Network Structure of the St.Petersburg Region and its Impact on Russian-Finnish Economic Cooperation co-written with Elena G. Efimova Review of Economies in Transition 4/1996 Problems and Prospects of Economic Reintegration within the CIS Review of Economies in Transition 1/1996 Manager Training - Another Emerging Market in Russian Educational Services co-written with Viktor V. Zakharov Review of Economies in Transition 1/1996
Dr. Peter Westin, 9.6.-3.8.1997 School of Slavonic and East European Studies, London, UK
Comparative Advantage and Characteristics of Russia's Trade with the European Union Review of Economies in Transition 2/1998
Ph D. Igor Vetlov, 15.9.-19.12.2003 • 1.10.-21.12.2000 Bank of Lithuania, Macroeconomics and Forecasting Division, Lithuania
The Lithuanian block of the ESCB multi-country model BOFIT Discussion Papers 13/2004 Dollarization in Lithuania: An Econometric Approach BOFIT Discussion Papers 1/2001
Dr. Jan Winiecki, 15.8.-15.10.2001 Viadrina European University Frankfurt (Oder), Germany
The role of the new, entrepreneurial private sector in transition and economic performance in light of the successes in Poland, the Czech Republic and Hungary BOFIT Discussion Papers 12/2001 Published in: Problems of Economic Transition vol 45, no 11 (2003), pp. 6-38, ISSN 1061-1991.
Ph.D. Yuqing Xing, 1.7.-30.9.2006 International University of Japan, Japan
Foreign direct investment and China's bilateral intra-industry trade with Japan and the US BOFIT Discussion Papers 1/2007 Exchange rate policy and the relative distribution of FDI among host countries BOFIT Discussion Papers 15/2006
Ph.D. Andrei A. Yakovlev, 1.8.-30.11.1998 Institute for Industrial and Market Studies at Higher School of Economics, Moscow, Russia
Black cash tax evasion in Russia: Its forms, incentives and consequences at firm level BOFIT Discussion Papers 3/1999
M. Sc.(Ec.) Terri Lynn Ziacik, 1.9.-31.12.1999 Indiana University, USA
An assessment of the Estonian investment climate: Results of a survey of foreign investors and policy implications BOFIT Discussion Papers 3/2000

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