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Updated: 08.02.2021

The researchers of Latvijas Banka are working toward the following goals:

  1. At the euro area level: to contribute to the analysis of the euro area's monetary policy together with other Eurosystem banks
  2. At Latvia's level: to contribute to current discussions on Latvia's economic issues, particularly regarding competitiveness
  3. To do this by using the most state of the art methods of economic science

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At euro zone level

The formulation of monetary policy decisions of the ECB's Governing Council technically involves joint support efforts by the committees.

Many important joint projects of the Eurosystem and the ECB serving as the basis for the decisions of the Governing Council of the ECB have been implemented over the past years.

The most important ones also involving the researchers of Latvijas Banka have been carried out by the following groups:

  • a group of experts analysing causes of low Inflation;
  • a working group on structural policy;
  • a working group on the natural interest rate estimates, etc.

Their contribution is usually reflected in ECB publications. 

At Latvia's level

Latvijas Banka has a range of the most advanced economic modelling instruments in Latvia:

  • data-driven models: short-term forecasting models (factor models, BVAR models), larger structural models (BVAR, SVAR) and input-output table based macroeconomic model (CGE);
  • economic theory based models: Latvian DSGE model.

Models are also often used in public discussions and discussions with other public institutions.

The results of research are not intended for internal use, but are published for public discussion either within the working papers series in scientific language or in a more synoptic manner – on the economic analysis website Macroeconomics.lv and in the Macroeconomic Developments Report of Latvijas Banka.

Visiting Researcher program

Latvijas Banka offers researchers (academics, postdoctoral and doctoral students) an opportunity of a research visit to Latvijas Banka. During their visit, successful applicants are expected to carry out a research project relevant for central banking on topics in monetary macroeconomics, financial economics, fiscal economics, etc. The applicants must be fluent in spoken and written English.

Timing and duration

Latvijas Banka accepts applications on an ongoing basis. The duration of the visit is flexible, but, depending on the project, it may last from a few weeks to 9 months.

Expected output

It is expected that at the end of the stay the results of the project will be presented internally and submitted for publication in Latvijas Banka working paper series.

Work environment

Visiting researchers will be affiliated with the Research Unit of the Monetary Policy Department of Latvijas Banka. They will be provided with office space, access to research databases, econometric software, etc. Visiting researchers are also entitled to remuneration in line with Latvijas Banka’s compensation scheme for economists.

Applications

The application should include:

  • research proposal describing research question, relevant literature, and methodology;
  • cover letter (also informing about the preferred time of the visit);
  • curriculum vitae;
  • list of recent research work;
  • applicants who have recently completed or are yet to complete their PhD studies are encouraged to submit letters of recommendation.

    Please submit this information, preferably in PDF format, to Atlase@bank.lv