Armenian Economic Association
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Previous Meetings:

2016 Program
2016 Abstracts
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2015 Program
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2015 Workshop Slides

2014 Program
2014 Abstracts
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2013 Program
2013 Abstracts
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2012 Program
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2011 Program
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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.
Preliminary program

Friday, June 23, 2017
Yerevan State University, Faculty of Economics, Abovyan street #52, Yerevan (Sev Shenk)

14:00 Registration

15:00 Welcome
YSU Rector (in Armenian)
Dean of the Faculty of Economics at YSU (in Armenian)
GoA official (in Armenian)
AEA Board member (in Armenian and English)

15:30 Short Break

15:40 Keynote Speech (Main Hall)

16:30-17:00 Coffee Break

17:00-18:30 Session 1A (in Armenian)

17:00-18:30 Session 1B: Macro 1
Chair: Ashot Mkrtchyan, Central Bank of Armenia

Trilemma in Transition Economies, Gayane Barseghyan and Varduhi Grigoryan, American University of

Credit to GDP gap in Armenia, Narek Ghazaryan, Central Bank of Armenia

The Effects of Reserve Requirement Ratios on the Level of Intermediation and Interest Rates, Aram
Butavyan, Central Bank of Armenia

Saturday, June 24, 2017
Faculty of Mathematics and Mechanics at Yerevan State University

10AM Session 2A: Competition, Innovation and the Macro Economy
Chair: Vahagn Jerbashian, University of Barcelona, Spain

New-Keynesian Phillips curve in a small open economy under Bertrand competition and endogenous entry,
Gayane Barseghyan and Sevag Agop, American University of Armenia

Intellectual Property and Product Market Competition Regulations in a Model with Two R&D Performing
Sectors, Vahagn Jerbashian, University of Barcelona, Spain

10AM Session 2B: Welfare and Growth

The Conception of Unconditional Basic Income as an Alternative of Bismarck’s Model of Welfare State,
Oleksandr Dluhopolskyi, Ternopil National Economic University, Ukraine

Re-Examining the Economic Convergence in Central, Eastern and Southeastern European (CESEE)
Countries, Dimitar Eftimoski, University St. Clement of Ohrid, Macedonia

Enabling Conditions for Inclusive Growth in Armenia: Evidence form Household Integrated Living Conditions
Survey, Vahram Ghushchyan and Narek Ohanyan, American University of Armenia

12:00-13:00PM Lunch

13:00-13:45 Keynote Lecture
Xavier Raurich, University of Barcelona

13:45 - 14:15 Coffee break

14:15-16:15 Session 3A: Comparative Economics
Chair: Gurgen Aslanyan, American University of Armenia

Incentives in Self-Regulatory Organizations, Krzysztof Szczygielski, University of Warsaw

Lose-Lose-Win: Revolution, War, and Development, Gurgen Aslanyan and Gayane Barseghyan, American
University of Armenia

Comparative Analysis of Socialist and Capitalist Economic Integration, Eka Lekashvili, Tbilisi State University,

14:15-16:15 Session 3B: Empirical IO and Development
Chair: Chair: Silvester van Koten, University of Economics, Prague

Forward Premia in Electricity Markets: numerical and experimental tests, Silvester van Koten, University of
Economics, Prague

Deposit-taking versus lending-only MFIs in ECA: a PSM comparison of outreach and sustainability, Knar
Khachatryan and Vardan Baghdasaryan, American University of Armenia; Valentina Hartarska, Auburn
University, Auburn, Alabama, USA; Xuan Shen, Regions Financial Corporation, Birmingham, Alabama, USA

Integrating perceived price and past transactions with e-commerce acceptance model, Davit Abgaryan,
Yerevan State University

16:15 Adjourn

Sunday, June 25, 2017
American University of Armenia

9:30-11:00 Session 4A: Finance 1
Chair: Ted Azarmi, University of Tuebingen and Heilbronn University, Germany

Does Gender Diversity Create Value? Shareholder Value and Gender Diversity in the Boardroom, Ted Azarmi,
University of Tuebingen and Heilbronn University, Germany

Attribution Analysis of Corporate Real Estate Holdings and Financial Performance: Reits VS. Other Industries,
Levon Goukasian, Pepperdine University, California, USA, and Luka Vidovic, UCLA, California, USA

9:30-11:00 Session 4B: International 1
Chair: Ewa Cieslik, Poznan University of Economics and Business, Poland

Consequences of FTA Withdrawal: Evidence from EU Enlargement, Hinnerk Gnutzmann, Leibniz University
Hannover, Germany

Central and Eastern European States in Global Production Linkages: Country-level and Sector-level Analysis,
Ewa Cieslik, Poznan University of Economics and Business, Poland

The Effects of External Shocks on Armenian Economy, Vahram Ghushchyan and Narek Ohanyan, American
University of Armenia

9:30-11:00 Session 4C: Health, Values, and Well being
Chair: Peter Martinsson, University of Gothenburg, Sweden

Affordable Healthy Diet Choices for the Armenian Population, Armen Ghazaryan, Colorado State University,

Positional Concerns through the Life Cycle - Evidence from Subjective Well-Being Data and Survey
Experiments, Peter Martinsson, University of Gothenburg, Sweden

Armenia-Turkey border opening: What determines the attitude of Armenians? Aleksandr Grigoryan and Knar
Khachatryan, American University of Armenia

11:00-11:30 Coffee break

11:30-13:00 Session 5A: Migration
Chair: Shushanik Margaryan, University of Hamburg, Germany

The Roman Origins of Modern Migration, David Gomtsyan, University of Turin, Italy

Does education affect attitudes towards immigration? Evidence from Germany, Shushanik Margaryan,
Annemarie Paul, and Thomas Siedler, University of Hamburg, Germany

Economic factors of Armenia's external migration, Hrant Mikaelian, Caucasus Institute, Armenia

11:30-13:00 Session 5B: International 2
Chair: Arevik Gnutzmann-Mkrtchyan, Leibniz University of Hanover, Germany

Politicized Trade: What Drives Withdrawal of Trade Preferences? Arevik Gnutzmann-Mkrtchyan and Martin
Gassebner, Leibniz University of Hanover, Germany

The relationship between exchange rate and select macroeconomic variables (Case study of Armenia),
Andranik Manukyan, Amberd Research Center of Armenian State University of Economics

11:30-13:00 Session 5C: Agricultural Economics
Chair: Anna Yeritsyan, ICARE, Armenia

Feasibility Analysis of Basil and Lettuce Production in Aquaponics System in Terms of Efficient Water Use,
Anna Dalaryan, Agribusiness Teaching Center, Armenia

Yield Index Insurance for Potato Production in Shirak Marz, Narine Sargsyan and Lena Mamikonyan,
Agribusiness Teaching  Center, Armenia

Economic Evaluation of Herbal Tea Production, Ruzanna Kartashyan, Agribusiness Teaching Center,

13:00-14:00 Lunch

14:00-14:45 Keynote Lecture
Randall Filer, Hunter College and the Graduate Center of the City University of New York

14:45-15:00 Coffee break

15:00-16:30 Session 6A: Wages and Labor
Chair: Marjan Petreski, University American College Skopje, Macedonia

Is informal job experience of youth undermining their labor-market prospects in transition economies?
Marjan Petreski, University American College Skopje, Macedonia

Cross-Country Wage Differentials, Hayk Karapetyan, Central Bank of Armenia

The determinants of child labour in Armenia: the role of household income, Vardan Simonyan, Russian-
Armenian (Slavonic) University, Armenia

15:00-16:30 Session 6B: Trade and Production

Exploring foreign trade of Armenia from 2011 to 2015: Gravity model of trade, Grigor Hovakimyan, American
University of Armenia

Feasibility Analysis of High-Productivity Wheat Seed Production in Armenia, Mary Melkonyan and Rafael
Bakhtavoryan, Agribusiness Teaching Center, Armenia

Modelling Brandy Production in Armenia, Suren Movsisyan, Armenian National Agrarian University

15:00-16:30 Session 5B: Finance 2

The impact of financial literacy on the financial decisions of consumers in rural areas of Armenia, Arthur
Pokrikyan, Central Bank of Armenia

Regional Disparities and Non-performing Loans, Sergey Avetisyan, Central Bank of Armenia

16:30-17:00  Coffee break

17:00-18:30 Session 7A: Macro 2
Chair: Gayane Barseghyan, American University of Armenia

The Rule of Law, Central Bank Independence, and Price Stability, Daniyar Nurbayev, Eurasian Research
Institute, Kazakhstan

Impact of inflationary targeting on inflation rate in developed and developing countries, Irina Luneva and
Sergey Sarkisyan, Moscow State University, Russia

Efficiency of the Monetary Policy in Low Income Indebted Countries, Hayk Sargsyan, Central Bank of Armenia

17:00-18:30 Session 7B: Taxes
Chair: ZEW and University of Mannheim, Germany

Impact assessment of Estonian Corporate Income Tax (CIT) model implementation in Armenia, Hovsep
Patvakanyan, American University of Armenia (AUA) and Jacobs, Cordova & Associates (JCA)

Outstripping Tax Revenues at Low Economic Activity - Arrangement and Solutions, Ara Karyan, Yerevan
State University, European Regional Educational Academy

Responses of Firms to Tax, Administrative and Accounting Rules: Evidence from Armenia, Zareh Asatryan,
ZEW Mannheim and University of Mannheim, Germany, and Andreas Peichl, LMU Munich and CESifo, Germany

19:00 Best paper awards