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To promote the research and analysis of Latvia's and euro area's macroeconomic issues by involving the most talented young economists in this work, Latvijas Banka announces the current Competition of Student Scientific Research Papers.

Latvijas Banka organises the Competition already for the 15th time. Participation is open to students (both Latvian inhabitants and foreign students studying here) who at the time of the Competition are registered as students of higher education institutions accredited by the Republic of Latvia Ministry of Education and Science enrolled in Bachelor's and Master's degree programmes, as well as Latvian people studying outside Latvia at accredited foreign universities.

25 topics (a full list of topics is available at makroekonomika.lv), including the monetary policy options in a low interest rate environment, study of the process of real convergence, fiscal policy, impact of public debt and structural reforms on economic growth, population ageing and migration, assessment of the effectiveness of the use of the European Union structural funds and foreign direct investment, etc., are proposed for the Competition.

The Competition papers shall be submitted to Latvijas Banka from 15 May to 29 May 2017. The Competition papers shall be evaluated by a committee specifically set up by Ilmārs Rimšēvičs, the Governor of Latvijas Banka, while the papers winning awards will be published at makroekonomika.lv and their authors will receive money awards (incl.  EUR 2 000 to the first-prize winner).

13 papers were submitted for the Competition of Student Scientific Research papers organised for the previous academic year. The authors of the papers were 20 students from three Latvia's higher education establishments. No first prize was awarded in the Competition, but two second prizes were awarded to Ernests Bordāns and Madis Teinemaa for the paper "Baltic Tigers Facing the Middle-Income Trap?" and Olena Kuzan and Anastasiya Kazhar for the paper "Variation of monetary policy transmission over a financial cycle: analysis of the EU countries".

The Regulation for the Competition, the papers of the previous prize-winners and other materials are available in the section "Competition of Student Scientific Research Papers" at makroekonomika.lv. The video release and photographs show the process and the award ceremony of the previous year's competition.

Latvijas Banka is the central bank of Latvia - an independent institution and a member of the Eurosystem. The primary objective of Latvijas Banka is the same as that of the central banks of other euro area countries and the European Central Bank price stability (inflation rates below, but close to, 2% over the medium term). This is an essential precondition for a strong and growth-oriented economy. To achieve that, Latvijas Banka participates in the formulation of the Eurosystem's monetary policy, related decision-making and implementation.

Furthermore, acting in the public and economic interests, Latvijas Banka carries out the following main tasks within the Eurosystem:

manages foreign reserves;
issues cash in Latvia and participates in ensuring the cash circulation process in the euro area;
promotes smooth operation of the payment systems;
compiles financial and monetary statistics, as well as balance of payments statistics;
maintains and develops the Credit Register.

Latvijas Banka promotes analysis and research of macroeconomic and financial issues, thereby laying a secure foundation for professional activities in these areas. The role of the leading industry expert helps Latvijas Banka enhance the public understanding of the fundamentals of the economy and the monetary system, the current situation and the economic policy pursued.

Latvijas Banka takes an active part in promoting economic education among the general public, inter alia, offering interactive tours in the Visitors Centre "Money World" of Latvijas Banka and maintaining the website www.naudasskola.lv ("Money School") for the use of students and teachers as well as the macroeconomic analysis website www.makroekonomika.lv. The academic year 2016/2017 will be already the third year when leading economists and experts of Latvijas Banka will visit higher education establishments in Riga and regions of Latvia and deliver lectures on crucial topics concerning the economies of Latvia and the euro area as well as global economic issues.