[Unofficial translation]

1. To promote the research and analysis of Latvia's macroeconomic problems, the Bank of Latvia announces a Competition of Student Scientific Research Papers for 2011 (hereinafter - Competition).

2. The following can take part in the Competition:
2.1 Latvian citizens and residents as well as foreigners who at the time of the Competition are registered as students of institutions of higher education accredited by the Republic of Latvia Ministry of Education and Science;
2.2 Latvian citizens and residents who at the time of the Competition are registered as students of institutions of higher education accredited as such according to the laws and regulations of foreign countries.

3. Quantitative methods of analysis must be used in the Competition paper, and its length and academic level must meet at least the requirements of a course paper. The Competition paper must be produced on a computer in Latvian or English.

4. The following topics, which are to be discussed in the economic context of Latvia or the Baltics are proposed for the Competition paper:
4.1 Price formation mechanism from the macroeconomic perspective.
4.2 Competitiveness of economy: cost and structural factors.
4.3 Assessment of the potential output; influence of the crisis on the growth potential.
4.4 Assessment of the economic growth potential and proposals for raising it from the perspective of endogenous growth models:  human capital, education and research, innovations and technological progress.
4.5 Debt sustainability analysis.
4.6 Fiscal rules: international experience and proposals for Latvia.
4.7 Taxation systems in the Baltic countries: their effectiveness and possibilities of convergence, analysis of gains and losses of convergence.
4.8 Effect of European Union's structural funds on the economy.
4.9 Migration of labour, its determining factors and effects on the economy.
4.10 Flexibility of the labour market, skills mismatch and the international experience in dealing with the problem.
4.11 The effect of the private sector debt dynamics on the economy.
4.12 Assessment of the Latvian business environment and proposals for its improvement.

5. Only one topic can be analyzed in a Competition paper. A substantiated narrowing of the topic is allowed.

6. The Competition papers are to be submitted at the Bank of Latvia, K. Valdemāra iela 2A (Noliktavas iela entrance), Riga, between 16 May and 27 May 2011. Papers submitted after 27 May 2011 will not be considered.

7. The Competition papers must be submitted in both paper and electronic form, recorded on
CD-ROM. Papers must be submitted in a sealed envelope addressed to the "Competition of College Student Scientific Research Papers". The envelope should also contain information about the author (name and surname, identity code, address, telephone number, e-mail address, institution of higher learning), as well as a copy of the document that supports the author's eligibility in accordance with Paragraph 2 of this Regulation. The submission of the paper constitutes confirmation that it is the work of the author and that the author assumes responsibility for observing the copyright of third persons and agrees that in case of an award the Bank of Latvia is free to publish the paper as it sees fit and without any additional remuneration.   

8. The contestants mentioned in Paragraph 2.2 of this Regulation may submit their Competition papers and the accompanying documents mentioned in Paragraph 7 of this Regulation by post, addressing the envelope to the "Competition of College Student Scientific Research Papers, Bank of Latvia, K. Valdemāra iela 2A, Riga, LV-1050", and sending it by registered post by 16 May 2011 (postal seal). Papers submitted after 16 May 2011 will not be considered.

9. After evaluating the Competition papers, a committee set up by the Bank of Latvia will determine winners of the Competition by 13 June 2011: 1 (one) first place, 2 (two) second place, and 3 (three) third place winners. 

10. The winners will be awarded a one-time award in the following amounts (before taxes stipulated by law):
10.1 LVL 1 200 (one thousand two hundred lats) for the single first-place winner;
10.LVL 750 (seven hundred fifty lats) each for the two second-place winners;
10.3 LVL 500 (five hundred lats) each for the three third-place winners.

11. Based on the evaluation of the Competition papers, the committee has the right to award no awards, to reduce their number or to divide them as well as award consolation prizes (including in the form of Bank of Latvia commemorative or collector's coins).

12. If the award-winning paper has two or more authors, the award will be equally split among them.

13. The results of the Competition will be published on 14 June 2011 on the Bank of Latvia's webpage (www.bank.lv).

14. The Competition papers that have won no awards, will be available for picking up at the Public Relations Division of the Bank of Latvia International Relations and Communication Department (telephone: 6702 2838) within 1 (one) month after the results of the Competition have been made public. The unclaimed papers will not be preserved after the aforementioned date.