Economic performance: integration, governance and policy
TalTech priority area
Research classification (Frascati)
Head of the research group
Research group member
Doctoral students
Keyword
macroeconomics
international integration
international finance
public economics
labour economics
household economics
economic governance
Overview
The research group studies contemporary andpolicy-relevant issues that affect the performance of economies under rapid change. The groupseeks to identify key relationships at the macroeconomic and microeconomic levels, to ascertainnew policy challenges, and to devise policy measures to improve economic performance.The senior staff members work individually,together with other members of the group orwith researchers outside the group. The researchis typically empirical and with a clear appliedfocus. The research typically uses contemporaryeconometric methodologies and public or proprietary datasets. The senior group members allhave doctoral degrees from reputed universities.Their competences are partly complementary assome focus on advanced econometric methodology, some on contemporary economic analysis,and some on policy-oriented studies. The groupmembers with doctoral degrees are among themost productive and cited research economistsin Estonia as witnessed by their research outputand REPEC/Ideas rankings.Most of the research group members (Staehr,Rõõm, Levenko, Harkmann, Reigl, Soosaar,Urke, Kollo, Rebane) are affiliated with EestiPank and carry out analysis and applied researchat this institution.
Related department
Publications related to the research group
- 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, 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, 2021. p. v-vi. (Springer).
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, 2, 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 (2023) vol. 69, 2, p. 289 - 317.
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) vol. 234, art. 111430.
https://doi.org/10.1016/j.econlet.2023.111430