Armenian Economic Association
Call for papers
Մասնակցության հրավեր
Submit a paper
Հոդվածների ներկայացում
Program
Ծրագիր
Abstracts
Ամփոփագրեր
Registration
Գրանցում
Instructions to participants
Զեկուցողների համար
Workshop Registration
Accommodations
Best Paper Awards
Sponsors
Previous Meetings:

2016 Program
2016 Abstracts
2016 Gallery

2015 Program
2015Abstracts
2015 Gallery
2015 Workshop Slides

2014 Program
2014 Abstracts
2014 Gallery

2013 Program
2013 Abstracts
2013 Gallery

2012 Program
2012 Gallery

2011 Program
2011 Gallery
2017 Conference

The Armenian Economic Association 2017 annual meetings will be jointly hosted by the faculty of Economics
and Management and the faculty of Mathematics and Mechanics at Yerevan State University (YSU), and the
American University of Armenia (AUA) on June 23-25.

Keynote Speakers
Xavier Raurich, University of Barcelona
Randall Filer, Hunter College and the Graduate Center of the City University of New York

Scholars, researchers, and graduate students, are invited to present their research in all areas of economics
and finance. Papers may address growth and development issues in Armenia and the South-Caucasus, the
ramifications of global and regional economic shocks, integration with the Eurasian Union and the EU,
regional trade patterns, trends in labor markets and migration, tax policy, income inequality, regulatory
reforms, or any other topic representing current advances in economics and finance. Both theoretical and
empirical works are welcome. The language of the conference is Armenian and English, and sessions will be
organized by language and JEL fields:

* Microeconomics; Industry Studies
* Macroeconomics and Monetary Economics
* International Economics
* Financial Economics
* Public Economics
* Labor and Demographic Economics, Health, Education, and Welfare
* Growth, Economic Development, and Transition Economics
* Agricultural, Natural Resources, and Environmental Economics
* Urban, Rural, and Regional Economics

If interested, please submit your abstract
here by April 15th; decision by April 30th. Submitted abstracts
should be less than 500 words and identify the research question, methods, and outcomes (obtained or
expected). The submission of complete sessions with 3-4 papers is also welcome, and highly encouraged.  
There is no submission fee nor any cost to present and participate.

Best Paper Awards
The World Bank will provide an award of USD 500 for the best scholarly paper exploring challenges of
inclusive growth with a focus on causes of inequality in Armenia. The International Monetary Fund will
continue to provide awards for best scholarly papers in macroeconomics and international economics (USD
50-100). The submission of completed papers in advance is required to be considered by the Bank and Fund
staff for the awards.
2016 Conference

The Armenian Economic Association 2016 annual meetings were jointly hosted by the Yerevan State
University, International Center for Agribusiness Research and Education (ICARE) and American University of
Armenia (AUA) on June 17-19. The Macroeconomics workshop on Growth Theory was hosted by CRRC-
Armenia on June 20.

Best paper awards

Armen Alchian awards – general interest
Minorities and Long-run Development: Persistence of Armenian and Greek Influence in Turkey, Gunes
Gokmen, New Economic School, Russia (with Cemal Eren Arbatli, NRU Higher School Of Economics, Russia)
Costly Voting in Runoff Elections, Mariam Arzumanyan, Central Bank of Armenia (with Mattias Polborn,
University of Illinois at Urbana-Champaign, USA)
Systemic Operational Risk:  Spillover Effects of Large Operational Losses in the European Banking Industry,
Suren Pakhchanyan, University of Oldenburg, Finance and Banking (with Thomas Kaspereit, Kerstin Lopatta,
- University of Oldenburg, Chair of Accounting and Corporate Governance, Jörg Prokop - Chair of Finance
and Banking)
CIS market integration and price transmission along the supply chains - What are the main driving forces
and challenges? Ivan Djuric, Leibniz Institute of Agricultural Development in Transition Economies (IAMO),
Germany

Grigor Artzruni awards – young scholars
Problems of assessment and forecasting of exogenously driven inflation: case of Armenia, Hovsep
Patvakanyan, Russian-Armenian (Slavonic) University
The Effects of Varying Contract Terms for Consumer Credit with Marginal Borrowers: Evidence from Mexico,
Diego Jimenez Hernandez, Stanford University, USA
Trade Shocks and Business Cycles in Emerging Economies, Karolina Matikyan and Mane Harutyunyan,
Central Bank of Armenia
Feasibility Assessment of Producing Buckwheat through Agricultural Cooperatives in Armenia, Gayane
Petrosyan, ICARE

IMF best paper awards -- trade and macroeconomics
Monetary policy in an open economy: the role of financial dollarization, Narek Ohanyan, American University
of Armenia
Developments of Credit Demand and Supply in Armenian Banking System, Hayk Sargsyan, Central Bank of
Armenia
2016 Conference Program

ENGLISH PROGRAM

Friday June 17, 2016
Yerevan State University, Faculty of Economics, Abovyan street #52, Yerevan (Sev Shenk)

14:00 Registration

15:00 Welcome
Aram Simonyan, YSU Rector (in Armenian)
Artsvik Minasyan, Minister of Economy (in Armenian)
Hayk Sargsyan, Dean of the Faculty of Economics at YSU (in Armenian)
Aleksandr Grigoryan, AEA President (in Armenian and English)

15:30 Short Break

15:40 Keynote Speech (Main Hall)
Laura Bailey, World Bank Armenia country manager

16:30 Coffee Break

17:00 Session 1A: International Trade
Chair: Heghine Manasyan, CRRC-Armenia
Trade effects for Armenia in joining the EEU, Astghik Mkhitaryan and Taguhi Hakobyan, Central Bank of
Armenia
Exchange Rate Volatility and Exports: Evidence from Armenia, Hayk Hambardzumyan and Gayane
Barseghyan, American University of Armenia
Trade Shocks and Business Cycles in Emerging Economies, Karolina Matikyan and Mane Harutyunyan,
Central Bank of Armenia
The Transfer Problem, Federico Trionfetti, Aix-Marseille University (Aix-Marseille School of Economics),
France
Discussant:        
Federico Trionfetti, Aix-Marseille University (Aix-Marseille School of Economics), France (1)

17:00 Session 1B: Armenian session, see below

Saturday, June 18, 2016
ICARE, 74 Teryan Street, Yerevan (Agribusiness Teaching Center Entrance from Teryan St)

10:00 Session 2A: Agricultural Economics I  (ICARE and IAMO session) -- Room A
Chair: Vardan Urutyan, ICARE
Analysis of oligopolistic behaviour of Kazakh and Russian exporters in the South Caucasian wheat
markets, Gulmira Gafarova, Oleksandr Perekhozhuk, Thomas Glauben, Leibniz Institute of Agricultural
Development in Transition Economies (IAMO), Germany
Spatial integration of South Caucasian and Central Asian wheat markets with the world wheat markets:
Evidence from Armenia, Azerbaijan, Georgia, Kyrgyzstan and Uzbekistan, Miranda Svanidze, Leibniz
Institute of Agricultural Development in Transition Economies (IAMO), Germany
Comparative Analysis of Wheat Supply Chains in Armenia and Uzbekistan, Ihtiyor Bobojonov, Adkham
Akbarov, Ramona Teuber, Oleksandr Perekhozhuk and Thomas Glauben, Leibniz Institute of Agricultural
Development in Transition Economies (IAMO), Germany
Factors affecting smallholder wheat production in Armenia, Anna Yeritsyan, Vardan Urutyan, Hovhannes
Mnatsakanyan, ICARE

10:00 Session 2B: Macroeconomics I -- Room B
Chair: Ashot Mkrchyan, Central Bank of Armenia
Business Cycles in Armenia: The Importance of Permanent and Transitory Shocks, Astghik Serobyan and
Mane Harutyunyan: Central Bank of Armenia
Exchange Rate Variability and Optimum Currency Area Theory: Evidence from Post-Soviet Countries,
Gayane Barseghyan, American University of Armenia
Long Run Returns to Government Investment in Low-Income Countries, David Gomtsyan, University of
Turin, Italy
Discussant:        
Vahagn Jerbashian, University of Barcelona, Spain (3)

12:00 Lunch

13:30 Session 3A: Agricultural Economics II (ICARE and IAMO session) -- Room A
Chair: Anna Yeritsyan, ICARE
CIS market integration and price transmission along the supply chains - What are the main driving forces
and challenges? Ivan Djuric, Leibniz Institute of Agricultural Development in Transition Economies (IAMO),
Germany
Measuring the degree of oligopsony power in the Kazakh grain and feed milling industry Giorgi Chezhia,
Oleksandr Perekhozhuk, Thomas Glauben, Leibniz Institute of Agricultural Development in Transition
Economies (IAMO), Germany
Does farm enlargement pay off? Example of the Armenian dairy sector, Vardan Urutyan, Anna Yeritsyan,
Narek Avetisyan, ICARE

13:30 Session 3B: Finance -- Room B
Chair: Levon Barkhudaryan, Armenian State University of Economics
Systemic Operational Risk:  Spillover Effects of Large Operational Losses in the European Banking
Industry, Suren Pakhchanyan, University of Oldenburg, Finance and Banking (with Thomas Kaspereit,
Kerstin Lopatta,- University of Oldenburg, Chair of Accounting and Corporate Governance, Jörg Prokop -
Chair of Finance and Banking)
How Much are Credit Ratings Really Worth? Armen Arakelyan, Comisión Nacional del Mercado de Valores
(CNMV), Spain (with Eric Duca, Carlos Salvador)
The output effects of declining spreads in Armenia: 2003-2013, Vahe Charchyan, Central Bank of Armenia
Discussants:         
Armen Arakelyan, Comisión Nacional del Mercado de Valores (CNMV), Spain
Suren Pakhchanyan, University of Oldenburg, Germany

15:00 Networking and Coffee

Sunday, June 19, 2016
American University of Armenia, College of Business and Economics (40 Marshall Baghramyan Ave)

9:30 Session 4A: Theory -- Room 213W
Chair: Bruce Boghosian, Tufts University, USA
Dynamic Allocation Implementation with Gradual Learning and Costly Mechanisms, Aram Grigoryan, Duke
University, USA
Rubinstein Bargaining at the Court, Laura Manukyan, ISET, Georgia
Insecure Property Rights and the Missing Middle, Aram Grigoryan, University of Illinois at Urbana-
Champaign, USA (with Mattias Polborn, University of Illinois at Urbana-Champaign, USA)
New results in asset-exchange models of wealth distribution, Bruce Boghosian, Tufts University, USA (with
Adrian Devitt-Lee, Jie Li, Jeremy Marcq, Hongyan Wang)

9:30 Session 4B: Labor -- Room 214W
Chair: Gayane Barshegyan, American University of Armenia
The choice of women between employment and homestay, and their happiness and life satisfaction: the
case of the South Caucasus, Karine Torosyan (with Norberto Pignatti, Nino Doghonadze), ISET Georgia
Short-run Implications of Health Insurance Implementation in Armenia, Grisha Khachatryan and Vardan
Adibekyan, Central Bank of Armenia
Why do migrant workers rely more often on referrals? Sevak Alaverdyan, Bielefeld Graduate School of
Economics and Management (BiGSEM), Bielefeld University, Germany

9:30 Session 4C: Environment -- Room 313W
Chair: Naira Harutyunyan, Armenian Development Foundation
Maintaining Adequate Drinking Water Supply: What the Public Gets and How it Reacts, Naira Harutyunyan,
Armenian Development Foundation
Ecologization of the tax system of Armenia: the purpose and issues, Ara Karyan, Yerevan State University

11:00 Coffee Break

11:30 Session 5A: Productivity and growth -- Room 213W
Chair: Vahagn Jerbashian, University of Barcelona, Spain
Automation and Job Polarization: On the Decline of Middling Occupations in Europe, Vahagn Jerbashian,
University of Barcelona, Spain, and CERGE-EI, Czech Republic
Digitization and Productivity: Measuring Cycles of Technological Progress, Shushanik Papanyan, BBVA
Compass/BBVA Research, USA
Rise of the Machines: Evidence from the Container Revolution, David Gomtsyan, University of Turin, Italy
Minorities and Long-run Development: Persistence of Armenian and Greek Influence in Turkey, Gunes
Gokmen, New Economic School, Russia (with Cemal Eren Arbatli, NRU Higher School Of Economics, Russia)

11:30 Session 5B: Migration -- Room 214W
Chair: Karine Torosyan, ISET, Georgia
Relative Standing and Temporary Migration: Empirical Evidence from the South Caucasus, Armenak
Antinyan, CRRC-Armenia/American University of Armenia/Tianjin University of Finance and Economics,
China  (with Luca Corazzini)
Migration in the estimated new Keynesian DSGE model for Armenia and Russia, Haykaz Igityan, Central
Bank of Armenia

11:30 Session 5C: Macroeconomics II -- Room 313W
Chair: Hovsep Patvakanyan, Russian-Armenian University
Monetary regulation policy in Armenia 2014-2015: shortcomings and opportunities, Edward Sandoyan, Ani
Avetisyan, and Liana Margaryan, Russian-Armenian University
Reserve requirements of the central bank: approaches and development, Lida Mnatsakanyan and Fedya
Adiyan, Russian-Armenian (Slavonic) University
Problems of assessment and forecasting of exogenuosly driven inflation: case of Armenia, Hovsep
Patvakanyan, Russian-Armenian University

11:30 Session 5D: Advanced econometrics demonstration
Short-term economic forecasting using 'ForecastXL' package, Karen Poghosyan, Central Bank of Armenia

13:00-14:00 Lunch

14:00-14:30 Keynote lecture
Ruben Enikolopov, Univesitat Pompeu Fabra (Barcelona) and New Economic School (Moscow)

14:30 Session 6A: Macroeconomics III -- Room 213W
Chair: Teresa Daban, International Monetary Fund
Monetary policy in an open economy: the role of financial dollarization, Narek Ohanyan, American
University of Armenia
Testing monetary policy: Rules versus discretion, Narek Ohanyan and Aleksandr Grigoryan, American
University of Armenia
Developments of Credit Demand and Supply in Armenian Banking System, Hayk Sargsyan, Central Bank of
Armenia

14:30 Session 6B: Political economy -- Room 214W
Chair: Vardan Baghdasaryan, American University of Armenia
Costly Voting with Multiple Candidates, Mariam Arzumanyan, Central Bank of Armenia (with Mattias
Polborn, University of Illinois at Urbana-Champaign, USA)
Costly Voting in Runoff Elections, Mariam Arzumanyan, Central Bank of Armenia (with Mattias Polborn,
University of Illinois at Urbana Champaign, USA)
Set them (almost) free. Discretion in electoral campaign under asymmetric information, Vardan
Baghdasaryan, American University of Armenia
Making Anocracy Work: The Microfoundations of Fiscal Policy in “Hybrid Regimes”, Babken DerGrigorian,
London School of Economic, UK

14:30 Session 6C: See Armenian session below -- Room 313W

16:00 Coffee Break

16:30 Session 7A: Personal finance -- Room 213W
Chair: Gurgen Aslanyan, Central Bank of Armenia
The Effects of Varying Contract Terms for Consumer Credit with Marginal Borrowers: Evidence from Mexico,
Diego Jimenez Hernandez, Stanford University, USA
Bankruptcy Rates among NFL Players with Short-Lived Income Spikes, Joshua Kim, Stanford University, USA
Does Financial Literacy Induce Behavioural Changes? Gurgen Aslanyan, Central Bank of Armenia (with
Derdzyan, Mkhitaryan, Serobyan)

16:30 Session 7B: Development -- Room 214W
Chair: Gharib Harutyunyan, Armenian State University of Economics Gyumri Branch
City disparities and ATM networks, Sergey Avetisyan, Central Bank of Armenia
The assessment of the results of social-economic reforms of developing countries with the help of integral
index of reforms, Ani Khachatryan, Armenian State University of Economics
Impacts of Tourism Development in Lanchkhuti Municipality, Eka Devidze, International Black Sea
University, Georgia
The methodological issues of the assessment of investment climate of cities in Armenia, Gharib
Harutyunyan, Armenian State University of Economics Gyumri Branch

16:30 Session 7C: Agricultural Economics III (student session) -- Room 313W
Chair: Sona Telunts, Agribusiness Teaching Center
Feasibility Assessment of Producing Buckwheat through Agricultural Cooperatives in Armenia, Gayane
Petrosyan, ICARE
Feasibility Analysis of Agricultural Insurance with an Application to Apricot in Armavir Region of Armenia,
Artak Meloyan, ICARE
Surplus Purchase Program for Grapes in Armenia, Gohar Sahakyan and Lena Mamikonyan, ICARE
Establishing Olive Orchards in Armenia, Hayrapet Saharyan and Sona Telunts, Agribusiness Teaching
Center
Empirical Estimation of Per Capita Armenian Brandy Consumption, Suren Movsisyan, Armenian National
Agrarian University

19:00 Best paper awards -- Room 213W

Monday, June 20, 2016
CRRC-Armenia, 1 Alex Manoogian Street, YSU Library building, 6th floor, room 602

14:00-16:00: Macroeconomics Workshop
Growth Theory. Vahagn Jerbashian, University of Barcelona, Spain



ՀԱՅԵՐԵՆ ԾՐԱԳԻՐ

Ուրբաթ, 17 հունիսի 2016թ.
Երևանի պետական համալսարան, Տնտեսագիտության և կառավարման ֆակուլտետ

14:00 Գրանցում (ԵՊՀ Տնտեսագիտության և կառավարման ֆակուլտետի դահլիճի նախամուտք)

15:00 Բացման արարողություն (ԵՊՀ Տնտեսագիտության և կառավարման ֆակուլտետի դահլիճ)
Արամ Սիմոնյան, ԵՊՀ ռեկտոր
Արծվիկ Մինասյան, ՀՀ Էկոնոմիկայի նախարար
Հայկ Սարգսյան, ԵՊՀ Տնտեսագիտության և կառավարման ֆակուլտետի դեկան
Ալեքսանդր Գրիգորյան, ՀՏՄ նախագահ

15:40 Գլխավոր զեկույց I (ԵՊՀ Տնտեսագիտության և կառավարման ֆակուլտետի դահլիճ)
Լաուրա Բեյլի, Համաշխարհային Բանկի հայաստանյան գրասենյակի ներկայացուցիչ

16:30 Սուրճի ընդմիջում

17:00 Բաժանմունք 1(Ա).
Միջազգային առևտուր (տես` անգլերեն ծրագիրը)

17:00 Բաժանմունք 1 (Բ). Սահմանադրական տնտեսագիտություն (ԵՊՀ Տնտեսագիտության և
կառավարման ֆակուլտետի դահլիճ)
Նախագահող` Կառլեն Խաչատրյան (ԵՊՀ)
Սահմանադրականության գնահատման, մոնիթորինգի և կառավարման հիմնախնդիրները, Հայկ
Սարգսյան (ԵՊՀ)
Վիճակագրական մեթոդները սահմանադրական տնտեսագիտությունում, Ռուբեն Գևորգյան (ԵՊՀ)
Սահմանադրականության համաթիվը որպես սահմանադրականության գնահատման անկյունաքար,
Ժիրայր Մխիթարյան (ԵՊՀ)

Շաբաթ, 18 հունիսի 2016թ.
Ագրոբիզնեսի Հետազոտությունների և Կրթության Միջազգային Կենտրոն

10:00 – 15:00 (տես` անգլերեն ծրագիրը)

Կիրակի, 19 հունիսի 2016թ.
Հայաստանի Ամերիկյան Համալսարան

09:30 – 17:30 (տես` անգլերեն ծրագիրը)

13:00 Գլխավոր զեկույց II
Ռուբեն Էնիկոլոպով, (Բարսելոնայի Պոմպեու Ֆաբրա համալսարան և Մոսկվայի նոր
տնտեսագիտական դպրոց)

14:30 Բաժանմունք 6(Գ). Տնտեսագիտական հիմնահարցեր  (313W)
Պետական գույքային հարաբերությունների կարգավորման ժամանակակից միտումները, Վարդուհի
Գաբրիելյան (ԵՊՀ)
Գովազդարշավի պլանավորման մոտեցում, Մելս Սահակյան և Գայանե Թումանյան (ԵՊՀ)

19:00 Փակման արարողություն և մրցանակների հանձնում