Majanduslik tulemuslikkus: integratsioon, valitsemine ja poliitika
TalTech prioriteetne teadussuund
Klassifikaator (Frascati)
Uurimisrühma juht
Uurimisrühma liige
Doktorant
Võtmesõna
makroökonoomika
rahvusvaheline integratsioon
rahvusvaheline rahandus
rahvamajandus
tööturuökonoomika
leibkondade ökonoomika
majanduse valitsemine
Ülevaade
Uurimisrühma liikmete teadustöö põhisuunaks on aktuaalsed majanduspoliitilised probleemid, mis mõjutavad majanduslikku tulemuslikkust kiirelt muutuvas majanduskeskkonnas. Rühma liikmete eesmärgiks on identifitseerida võtmelise tähtsusega seoseid nii mikro- kui ka makrotasandil, tuvastada uusi majanduspoliitilisi probleeme ning töötada välja uusi poliitilisi meetmeid majandusliku tulemuslikkuse parandamiseks. Peamised uurimisvaldkonnad on makromajanduslik stabiilsus, rahvusvahelised majandussidemed, fiskaalne jätkusuutlikkus, inflatsioon, ootuste kujunemine ja finantsstabiilsus.Suurem osa uurimistöödest on empiirilised ning selge rakendusliku majanduspoliitilise fookusega. Uurimustes kasutatakse kaasaegset ökonomeetrilist metoodikat ja avalikke või mitteavalikke andmebaase. Rühma liikmete kompetentsid täiendavad osaliselt üksteist, kuna osad rühmaliikmed keskenduvad kõrgetasemelistele ökonomeetrilistele meetoditele, osad kaasaegsele majandusanalüüsile ja osad majanduspoliitikale orienteeritud uurimustele.
Tähtsamad tulemused
2023. aastal töötati mitmete majandusliku tulemuslikkuse seisukohalt oluliste projektide kallal:• fookuseks oli inflatsiooni mõju fiskaalsetele tulemustele, projekt on otseselt seotud inflatsiooni tõusuga alates 2022. aastast ja ebakindla fiskaalsituatsiooniga mitmes Euroopa Liidu riigis. • käsitleti regulatsiooni mõju Eesti pankade laenumahtudele, adresseerides taas finantsstabiilsuse ja majanduskasvu jaoks võtmetähtsusega teemasid. • käsitleti makroökonoomiliste arengute ootuste kujunemist Euroopa Liidu riikides. Analüüsis selgus, et indiviidid kujundavad ootusi, mis ei ole kooskõlas majandusteooriaga. Antud tulemus võib olla oluline poliitikakujundamisel.
Seotud struktuuriüksus
Teadusgrupiga seotud publikatsioonid
- Cuestas, J.C., Lucotte, Y., Reigl, N.A. The evolution and heterogeneity of credit procyclicality in Central and Eastern Europe : [journal article] // International journal of finance & economics (2022) vol. 27, 1, p. 911-942.
https://doi.org/10.1002/ijfe.2183 - Meriküll, J., Rõõm, T. Are survey data underestimating the inequality of wealth? // Empirical economics (2022) vol. 62, 2, p. 339-374.
https://doi.org/10.1007/s00181-021-02030-6 - Harkmann, K., Staehr, K. Current account drivers and exchange rate regimes in Central and Eastern Europe // Journal of International Money and Finance (2021) vol. 110, art. 102286.
https://doi.org/10.1016/j.jimonfin.2020.102286 - Mathä, T. Y., Millard, S., Rõõm, T., Wintr, L., Wyszyński, R. Shocks and labour cost adjustment : evidence from a survey of European firms // Oxford Economic Papers (2021) vol. 73, 3, p. 1008-1033.
https://doi.org/10.1093/oep/gpaa041 - Meriküll, J., Kukk, M., Rõõm, T. What explains the gender gap in wealth? Evidence from administrative data // Review of economics of the household (2021) vol. 19, 2, p. 501–547.
https://doi.org/10.1007/s11150-020-09522-x - Reigl, N., Uusküla, L. Alternative frameworks for measuring credit gaps and setting countercyclical capital buffers : [journal article] // Journal of financial economic policy (2021) vol. 13, 2, p. 161-179 : ill.
https://doi.org/10.1108/JFEP-04-2019-0070 - Staehr, K., Urke, K. The European structural and investment funds and public investment in the EU countries // Empirica (2022) vol. 49, 4, p. 1031-1062.
https://doi.org/10.1007/s10663-022-09549-6 - Nilavongse, R., Rubaszek, M., Uddin, G.S. Economic policy uncertainty shocks, economic activity, and exchange rate adjustments // Economics letters (2020) vol. 186, art. 108765, 4 p. : ill.
https://doi.org/10.1016/j.econlet.2019.108765 - Cuestas, J., Lucotte, Y., Reigl, N. Banking sector concentration, competition and financial stability : the case of the Baltic countries // Post-communist economies (2020) vol. 32, 2, p. 215-249 : ill.
https://doi.org/10.1080/14631377.2019.1640981 - Staehr, K., Uusküla, L. Macroeconomic and macro-financial factors as leading indicators of non-performing loans: Evidence from the EU countries // Journal of economic studies (2021) vol. 48, 3, p. 720-740.
https://doi.org/10.1108/JES-03-2019-0107 - Kukk, M., Paulus, A., Staehr, K. Cheating in Europe : underreporting of self-employment income in comparative perspective // International tax and public finance (2020) vol. 27, 2, p. 363-390.
https://doi.org/10.1007/s10797-019-09562-9 - Levenko, N. Perceived uncertainty as a key driver of household saving // International Review of Economics & Finance (2020) vol. 65, p. 126-145 : ill.
https://doi.org/10.1016/j.iref.2019.10.005 - Cuestas, J.C., Kukk, M. The interaction between housing prices and housing credit: evidence from a country with rapid credit accumulation // Journal of economic studies (2021) vol. 48, 1, p. 191-209.
https://doi.org/10.1108/JES-11-2019-0519 - Meriküll, J., Rõõm, T. Stress tests of the household sector using microdata from survey and administrative sources // International journal of central banking (2020) vol. 16, p. 203-248.
https://www.ijcb.org/journal/ijcb20q1a6.pdf - Bekiros, S., Nilavongse, R., Uddin, G.S. Expectation-driven house prices and debt defaults : the effectiveness of monetary and macroprudential policies // Journal of Financial Stability (2020) Vol. 49, Art. 100760.
https://doi.org/10.1016/j.jfs.2020.100760 - Bakkar, Y., Nilavongse, R., Saha, A.K. Spillovers of the US real and financial uncertainty on the Euro area // Applied economics letters (2021) vol. 28, 15, p. 1249-1258 : ill.
https://doi.org/10.1080/13504851.2020.1808166 - Staehr, K. Export performance and capacity pressures in Central and Eastern Europe // International Economics (2021) Vol. 165, p. 204-217.
https://doi.org/10.1016/j.inteco.2020.12.008 - Nilavongse, R., Rubaszek, M., Staehr, K., Uddin, G.S. Foreign and domestic uncertainty shocks in four open economies // Open economies review (2021) vol. 32, 5, p. 933–954 : ill.
https://doi.org/10.1007/s11079-021-09656-0 - Cho, H.-j., Lehner, O.M., Nilavongse, R. Combining financial and ecological sustainability in bank capital regulations // Journal of applied accounting research (2021) vol. 22, 3, p. 423-435.
https://doi.org/10.1108/JAAR-10-2020-0221 - Cuestas, J., Kukk, M. The Spanish housing market : is it fundamentally broken? // Working Papers (2019) vol. 4, 11 p.
https://ideas.repec.org/p/jau/wpaper/2019-04.html https://doi.org/10.1080/13504851.2019.1677844 - Filipozzi, F., Harkmann, K. Optimal currency hedge and the carry trade // Review of accounting and finance (2020) vol. 19, 3, p. 411-427.
https://doi.org/10.1108/RAF-10-2018-0219 - Harkmann, K. Integration of the Baltic stock markets with developed European markets // International journal of finance & economics (2022) vol. 27, 1, p. 506-517.
https://doi.org/10.1002/ijfe.2165 - Kukk, M., van Raaij, W.F. Joint and individual savings within families: evidence from bank accounts // Journal of Family and Economic Issues (2022) Vol. 43, 3, p. 511-533.
https://doi.org/10.1007/s10834-021-09783-3 - Rosenberg, S. Conventional and unconventional monetary policies: effects on the Finnish housing market // Baltic journal of economics (2020) vol. 20, 2, p. 170−186.
https://doi.org/10.1080/1406099X.2020.1792085 - Paulus, A., Staehr, K. The energy crisis in the Baltic states : causes, challenges, and policies // EconPol Forum (2022) vol. 23, 6, p. 28-32.
https://www.econpol.eu/sites/default/files/2022-11/econpol-forum-2022-6-european-energy-crisis.pdf - Staehr, K., Urke, K. The coronavirus pandemic and next generation EU in the Baltic States // CESifo forum (2021) Vol. 22, 1, p. 20-25 : ill.
https://www.cesifo.org/en/publikationen/2021/journal-complete-issue/cesifo-forum-012021-eus-big-pandemic-deal-will-it-be - Levenko, N. Rounding bias in forecast uncertainty // Research in economics (2020) Vol. 74, 4, p. 277-291 : ill.
https://doi.org/10.1016/j.rie.2020.08.001 - Reigl, N., Staehr, K. Negative interest rates in the five Eurozone countries from Central and Eastern Europe // CESifo forum (2020) vol. 21, 1, p. 24−30.
https://www.cesifo.org/en/publikationen/2020/article-journal/negative-interest-rates-five-eurozone-countries-central-and - Meriküll, J., Kukk, M., Rõõm, T. Correction: What explains the gender gap in wealth? Evidence from administrative data // Review of economics of the household (2021) vol. 19, p. 549–550.
https://doi.org/10.1007/s11150-021-09564-9 - Jajuga, K., Locarek-Junge, H., Orlowski, L., Staehr, K. Preface // Contemporary Trends and Challenges in Finance : proceedings from the 4th Wroclaw International Conference in Finance. Cham : Springer Nature Switzerland AG, 2019. p. v-vii. (Springer proceedings in business and economics).
https://link.springer.com/content/pdf/bfm%3A978-3-030-15581-0%2F1.pdf - Degler, M., Staehr, K. Price and income convergence and the dynamic Penn effect in Central and Eastern Europe // Economic change and restructuring (2021) vol. 54, 3, p. 621-635 : ill.
https://doi.org/10.1007/s10644-019-09248-6 - Cuestas, J.C., Ordonez J., Staehr, K. Unit Labour Costs and the Dynamics of Output and Unemployment in the South European Crisis Countries // Empirica (2019) vol. 46, 3, p. 597−616 : ill.
https://doi.org/10.1007/s10663-018-9410-1 - Ferraro, S., Hänilane, B., Staehr, K. Minimum wages and employment retention : a microeconometric study for Estonia // Baltic journal of economics (2018) vol. 18, 1, p. 51-67 : ill.
https://doi.org/10.1080/1406099X.2018.1485422 - Kukk, M. Debt repayment problems: short-term and long-term implications for spending // Review of economics of the household (2019) vol. 17, 2, p. 715–740.
https://doi.org/10.1007/s11150-018-9424-2 - Staehr, K. Capital flows and growth dynamics in Central and Eastern Europe // Post-communist economies (2018) vol. 30, 1, p. 1-18 : ill.
https://doi.org/10.1080/14631377.2017.1362195 - Ferraro, S., Meriküll, J., Staehr, K. Minimum wages and the wage distribution in Estonia // Applied economics letters (2018) vol. 50, 49, p. 5253-5268 : ill.
https://doi.org/10.1080/00036846.2018.1486017 - Rosenberg, S. The effects of conventional and unconventional monetary policy on house prices in the Scandinavian countries // Journal of housing economics (2019) vol. 46, art. 101659, 17 p. : ill.
https://doi.org/10.1016/j.jhe.2019.101659 - Levenko, N., Oja, K., Staehr, K. Total factor productivity growth in Central and Eastern Europe before, during and after the global financial crisis // Post-Communist Economies (2019) Vol. 31, 2, p. 137-160.
https://doi.org/10.1080/14631377.2018.1460713 - Soosaar, O., Puur, A., Leppik, L. Does raising the pension age prolong working life? Evidence from pension age reform in Estonia // Journal of pension economics and finance (2021) vol. 20, 2, 18 p.
https://doi.org/10.1017/S1474747220000244 - Cuestas, J. C., Kukk, M., Levenko, N. Misalignments in house prices and economic growth in Europe // Applied economics (2023) vol. 55, 28, p. 3215-3237.
https://doi.org/10.1080/00036846.2022.2110212 - Staehr, K., Vermeulen, R. Heterogeneous effects of competitiveness shocks on macroeconomic performance across euro area countries // World Economy (2019) Vol. 42, 1, p. 68-86.
https://doi.org/10.1111/twec.12675 - Kukk, M. What are the triggers for arrears on debt over a business cycle? Evidence from panel data // International journal of finance and economics (2023) vol. 28, 3, p. 2811-2833.
https://doi.org/10.1002/ijfe.2565 - Levenko, N., Staehr, K. Self-reported tax compliance in post-transition Estonia // Economic systems (2023) vol. 47, 3, art. 101047.
https://doi.org/10.1016/j.ecosys.2022.101047 - Jajuga, K., Locarek-Junge, H., Orlowski, L.T., Staehr, K. Preface // Contemporary Trends and Challenges in Finance : Proceedings from the 6th Wroclaw International Conference in Finance. Cham : Springer Science and Business Media B.V., 2021. p. v-vi. (Springer Proceedings in Business and Economics).
https://link.springer.com/book/10.1007/978-3-030-73667-5 - Kirpson, G., Randveer, M., Reigl, N.A., Staehr, K., Uusküla, L. Macroeconomic news and sovereign interest rate spreads before and during quantitative easing // Applied economics (2023)
https://doi.org/10.1080/00036846.2023.2287556 - Reigl, N. Noise shocks and business cycle fluctuations in three major European Economies // Empirical Economics (2022) vol. 64, p. 603–657 : ill.
https://doi.org/10.1007/s00181-022-02272-y - Jajuga, K., Locarek-Junge, H., Orlowski, L.T., Staehr, K. Preface // Contemporary trends and challenges in finance : proceedings from the 5th WroclawInternational Conference in Finance. Cham : Springer Nature, 2020. p. v-vi. (Springer proceedings in business and economics).
https://link.springer.com/content/pdf/bfm:978-3-030-43078-8/1?pdf=chapter%20toc - Dajcman, S., Kavkler, A., Levenko, N., Romih, D. Spillover effects of economic policy uncertainty on adult and youth unemployment // Review of economic perspectives (2023) vol. 23, 1, p. 47-70.
https://doi.org/10.2478/revecp-2023-0001 - Kukk, M., Meriküll, J., Rõõm, T. The gender wealth gap in Europe: Application of machine learning to predict individual-level wealth // Review of income and wealth (2022) vol., 29 p.
https://doi.org/10.1111/roiw.12596 - Kirpson, G., Staehr, K. Do individuals expect the Phillips curve? Evidence from the European consumer expectations survey // Economics letters (2023) art. 111430
https://doi.org/10.1016/j.econlet.2023.111430