Skopje, September 18th, 2020
Yesterday, the Research Club established by the National Bank held its 36th session. Due to the COVID-19 pandemic, the session was held by video conference, thus enabling a large number of participants to join.
“As a central bank, we have set a mission to support the scientific research activities in the field of microeconomics and banking. I am pleased that even in the conditions of current pandemic, this mission has not stopped, and despite the physical contacts limitation and the challenges we face with COVID-19 crisis, we find ways to support the development of scientific thought and professional debate. I am particularly glad that this session also provides space for young researchers.”- pointed out the Governor of the National Bank, Anita Angelovska Bezhoska in her welcoming address, opening the e-event.
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Галерија - 36. сесија на Клубот на истражувачите |
The research papers “The interaction between conditional wages and the duration of unemployment: empirical evidence from Jordan, Serbia, Montenegro, Ukraine and Moldova from 2015”, by Tereza Kochovska and “Improving the process of credit analysis with banks by using machine learning methods”, by Alan Kalach were presented at the session. By the way, both authors are winners of the Annual Award of the National Bank- Kochovska for the last year and Kalach for this year.
In Kochovska’s paper, the determinants of the lowest acceptable (conditional) wage are evaluated, especially its connection with the duration of unemployment. The results presented at the session indicate that the interaction between the conditional wage and the duration of unemployment is countercyclical, i.e. the increased duration of unemployment reduces the lowest acceptable (conditional) wage. According to the conclusions by Kochovska, the young people living in families that are recipients of other sources of income and remittances have lower conditional wages, while others that come from families with better financial situation or are recipients of state financial support have higher conditional wages. The results of the research paper point to the thesis that young people who are married and have children, as well as the ones with higher level of education have a higher conditional wage. This confirms the sphere of her professional interest in this period.
Otherwise, this paper by Kochovska builds on her paper “The interaction of the conditional (lowest acceptable) wage and the duration of unemployment: Empirical evidence from Macedonia”, for which she received the Annual Award of the National Bank last year.
For the paper “Improving the process of credit analysis with banks by using machine learning methods”, Alan Kalach received the Annual Award of the National Bank for this year. It is a paper that features reality as well as relatively high applicative usage in context of the daily credit activities of banks. Specifically, Kalach explores the issue of accurate credit risk assessment through the use of artificial intelligence methods, i.e. machine learning.
By testing and comparing the performances of several methods and models, the author gives specific conclusions regarding the use and accuracy of the each of them, as well as specific recommendations for their application within the processes of credit analysis and assessment by domestic banks.
There was a discussion among the participants within the session on several issues related to the topics of the both papers, as well as the theses and conclusions by Kochovska and Kalach.
The participants expressed satisfaction that despite the conditions amid COVID-19 pandemic, the Researcher’s Club continues its activities as a platform for presentation and discussion of scientific research papers.
The next Research Club session will be held in December.