L. Tarasonis has published an article in the journal "Labor Economics"

Tarasonis Linas EFST

EF scientific researcher Linas Tarasonis with co-authors Daniel Borowczyk-Martins (Copenhagen Business School) and Jake Bradley (University of Cambridge) have published an article in the journal Labour Economics entitled “Racial Discrimination in the U.S. Labor Market: Employment and Wage Differentials by Skill”.


In the U.S. the average black worker has a lower employment rate and earns a lower wage compared to his white counterpart. Lang and Lehmann (2012) argue that black-white wage and employment gaps are smaller for high-skill workers. We show that a model combining employer taste-based discrimination, search frictions and skill complementarities can replicate these regularities, and estimate it using data from the U.S. manufacturing sector. We find that discrimination is quantitatively important to understand differences in wages and job finding rates across workers with low education levels, whereas skill differences are the main driver of those differences among workers with high education levels.


"The article is special, because it reveals how standard macroeconomic theory can be applied to microeconomic problems. Most of the topic of literary discourse is empirical, in which the theoretical aspects of the problem are not thoroughly considered. Our article evaluates the theory of discrimination very seriously and shows the possibilities of the theoretical model to explain the essential empirical facts of racial discrimination in the US labor market, i.e. lower salaries and lower employment opportunities for black workers. Although the article deals with racial discrimination issues in the US, the theoretical model can be used to investigate discrimination against any other social group (women, elderly workers, sexual minorities, etc.)," said dr. Linas Tarasonis.

Meet new Faculty of Economics leaders

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Welcome new leaders of the Faculty of Economics: Dean Prof. Aida Mačerinskienė, Vice-Deans: doc. Dr. Roma Adomaitienė, Dr. Linas Tarasonis and Gediminas Rumšas. They start their term today!

IMPORTANT: we are changing our name!

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We would like to announce that the Faculty of Economics became:


Faculty of Economics and Business Administration from the 1st of November! 


New Faculty Logos in Lithuanian and in english

This semester is a transitional period, therefore, various documents prepared with the old logo and the name can be used, but we encourage you to use new blanks:
sample blank in Lithuanian (black and white)
sample blank in English (black and white)
sample blank in Lithuanian (color)
sample blank English (color)
VU slide show in Lithuanian

You can find more new university documents on the intranet (


Spend your exchange period within ISEP programme


Apply for a place within ISEP exchange programme and spend your exchange period in the USA or other university worldwide

Vilnius University students are invited to participate in the ISEP student exchange programme and spend Fall semester or the whole Academic year 2018/2019 in one of the Universities in the USA or some other country.

ISEP programmes offers tuition free studies, as well as free accommodation and meal plan!

For more information please visit: - Studies - Degree students - Exchange for degree students - ISEP

Application documents are accepted till December 12, 2017 (inclusive).

If you have any questions, please feel free to contact Julius Pukelis at , VU Central building, International Programmes and Relations Office, Room 242, tel. no. 8 5 268 7156.

Matthias Weber's article has been published in Journal of Finance!

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A research paper on bond markets by CEFER and VU researcher Matthias Weber has been accepted for publication in the peer-reviewed Journal of Finance. Note that this is the best journal worldwide for research in finance with an impact factor of 6.043. It is thus a historic event when the researcher affiliated with Lithuanian institutions publishes in the globally ultimate outlet for academic finance, thus placing us in line with the most prestigious universities and world leading research institutions. The article is written jointly with John Duffy and Arthur Schram. A first version has appeared as Bank of Lithuania Working Paper last summer (BoL WP 30/2016).

Title: "An Experimental Study of Bond Market Pricing" (link to paper)

Journal: Journal of Finance (Impact factor – 6.043).

Abstract: An important feature of bond markets is the relationship between the IPO price and the probability that the issuer defaults. On the one hand, the default probability affects the IPO price. On the other hand, IPO prices affect the default probability. It is a priori unclear whether agents can competitively price such assets and our paper is the first to explore this question. We do so using laboratory experiments. We develop two flexible bond market models that are easily implemented in the laboratory. We find that subjects learn to price the bonds well after only a few repetitions.





Do not miss a chance for a international exchange possibility!

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No not forget to apply for Erasmus + exchange for Spring semester until 24th of September!

Fill the application here.

Check more information about Erasmus+ mobility for students here

Information session with ACCA

This Wednesday you can get all information about opportunities for MSc students to get for FREE ACCA (Association of Chartered Certified Accountants) internationally recognized qualification (information is also useful for bachelors who consider which masters studies to choose).


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