Belarusian Economic Research and Outreach Center

Open Lectures 2016

Open Lecture with Darryl J. Mitry ”Main Problems of Monetary System”

Open Lecture with Darryl J. Mitry "Main Problems of Monetary System" will be held at IBB, Minsk on December 16, 2016.

Open Lecture ”Spatial wage inequality in Belarus” by Aleh Mazol

The empirical results from study of the wage inequality in Belarus' districts (from 2000 till 2015) show: first, that wage disparities across the districts decreased in the 2000-2012 period and then increased from 2013 to 2015; second, there is the spatial dependency in district wages and increasing separation between districts, and between rural and urban population in Belarus; third, the main economic factors that contribute to decrease in district wage inequality are industrial development, retail trade and agricultural development. Finally, from theoretical point of view the research rejects the inverted U-shaped relationship between spatial inequality and economic development for Belarus and supports the hypothesis made by French economist Thomas Piketty that slow growth rates lead to rising inequality.

 Victor Arshavskiy

Open Lecture ”Market integration in developing countries: literature review and directions for further research” by Victor Arshavskiy

Market integration in developing countries is crucial condition under which new economic policies and technological advancements will positively affect economic growth. Consider the following example: a farmer is deciding whether to implement a new technology, which, at some cost, should significantly increase output. If there is only one local market, which is not integrated to other markets in the country, increased output will just plummet the pries and return on the investment may be low or negative. If, however, markets are integrated, the excess of the product will “flow” to the central market and from there to other markets in the country, and price effect will be minimal. In this case, the farmer has much higher incentives to implement the new technology, which facilitates economic growth. I review recent advances in this field and suggest some future research directions.

Open Lecture ”Taxation: Historical Trends and Theoretical Explanation”

This study analyzes the dynamics of tax revenues and tax rates for a large set of countries for at least last 50 years. We establish several stylized facts. First, corporate and individual income tax rates have been steadily declining, while value added tax(VAT) has been increasing for the most of the countries. The VAT was introduced in many countries in late 70s and early 80s. Second, the total revenue as % of GDP as well as the share non-tax revenues in total revenue have not changed much. Third, while the share of individual income tax has remained constant, the share of corporate tax has increased in spite of falling tax rates. Fourth, the sale tax revenue has become the most import source of revenue. The recent theoretical explanations cannot account for the observed pattern. We proposed an alternative by incorporating capital mobility into a model of the optimal capital taxation with heterogeneous agents a la Conesa et al (2009).

Research Seminar "Can we cure debt with more debt: Is fiscal stimulus effective during consumer debt induced recession?"

Research Seminar with Elena Loutskina took place on July 13.

Open Lecture ”Will I Get Paid? Employee Stock Options and Mergers and Acquisitions”

Open lecture with Yuri Tserlukevich took place on July 1.

Open Lecture "Effects of Trade Wars on Belarus”

Open lecture with Aleksandr Vashchilko took place on June 24.

Open Lecture "Challenges of the Future: Back to the Middle Ages”

Open lecture with Pavel Daneyko organized in cooperation with the Flying University and the Center for European Transformation took place on May 27.