Arsen Grigoryan

• Introduced midterm liquidity forecasting framework which intended to figure out the monetary policy operations liquidity demand by the commercial banks for a 12-month horizon periodically. • Mapped behavior of local financial market participants in local bond market which helped to explain certain developments in Armenian money market and bond market. The analysis also uncovered bond portfolio holding incentives and underlying reasons for performing transactions in local financial market.

• Conducted Financial Sector Expectations Surveys which included commercial banks, credit unions, insurance companies, investment companies and pension funds expectations on inflation, economic growth, exchange rate, treasury yield curve, interest rate and other variable expectations on a 3,6,9,12 month horizon. Prepared a report on a quarterly basis. • Surveyed cash dollarisation annual surveys which intended to figure out cash dollarisation level in Armenia not captured by monetary aggregates.

• Conducted lectures for 2 groups of bachelor students on the topic "Monetary and Fiscal Policy Issues in Armenia". • Also practiced as a lecturer for groups of bachelor and masters students as part of the Doctorate program at Armenia State University of Economics from Sep-2007 to Jul-2008 on the following topics: - "Financial Management in Non-financial Organisations" - "Insurance"

Dissertation titled "Monetary and Fiscal Policy Coordination Issues in Armenia", March 2010, which discussed monetary and fiscal policies impact and coordination level in Armenia and proposed appropriate coordination model much fitting the economic conditions of Armenia.

Finance