Karsten Staehr Curriculum Vitae

Karsten Staehr Research Supervisor
E-mail: karsten.staehr@eestipank.ee

Research interests:

Inflation
Monetary integration
Public finances
Taxation
Economic transition

Education:

1997 — Ph.D., Economics, University of Copenhagen, Denmark
1996 — MSc, Economics, Massachusetts Institute of Technology, USA
1991 — MA, Economics, University of Copenhagen, Denmark

Experience:

2011—current: Research Supervisor, Economics and Research Department, Bank of Estonia, Estonia
2009—current: Visiting Lecturer, ISM University of Management and Economics, Lithuania
2007—current: Professor in public and international finance, Economics and Business Administration, Tallinn University of Technology, Estonia
2006—2011: Research Supervisor, Research Department, Bank of Estonia, Estonia
2006—2007: Lecturer, Department of Public Administration, University of Tartu, Estonia
2005—2006 and 2007: Lecturer, University of Copenhagen, Denmark
2005—2006: Senior Economist, Environmental Assessment Institute, Denmark
2001—2005: Lecturer, EuroFaculty, University of Tartu, Estonia
1998—2003: Senior Advisor, Internationa lDepartment, Central Bank of Norway, Norway
1996—1997: Lecturer, EuroFaculty, University of Vilnius, Lithuania

Selected publications:

Cheating in Europe: underreporting of self-employment income in comparative perspective, forthcoming in 2020, authors Merike Kukk, Alari Paulus and Karsten Staehr. International Tax and Public Finance.
Unit labour costs and the dynamics of output and unemployment in the southern European crisis countries, 2019, authors Juan Carlos Cuestas Olivares, Javier Ordóñez and Karsten Staehr. Empirica, Vol. 46, pp. 597-616.
Macroeconomic and macro-financial factors as leading indicators of non-performing loans. Evidence from the EU countries, forthcoming in 2020, authors Karsten Staehr and Lenno Uusküla. Journal of Economic Studies.
Price and income convergence and the dynamic Penn effect in Central and Eastern Europe, 2019, authors Moritz Degler and Karsten Staehr. Economic Change and Restructuring, pp. 1-15.
Heterogeneous effects of competitiveness shocks on macroeconomic performance across euro area countries, 2019, authors Karsten Staehr and Robert Vermeulen. The World Economy, Vol. 42, Issue 1, pp. 68-86.
Total factor productivity growth in Central and Eastern Europe before, during and after the global financial crisis, 2019, authors Natalia Levenko, Kaspar Oja and Karsten Staehr. Post-Communist Economies, Vol. 31, No. 2, pp. 137-160.
The great leveraging in the European crisis countries. Domestic credit and net foreign liabilities, 2017, authors Juan Carlos Cuestas and Karsten Staehr. Journal of Economic Studies, Vol. 44, Issue 6, pp.895-910 (Earlier version: Working Papers of Eesti Pank, No. 4/2014).
Capital flows and growth dynamics in Central and Eastern Europe, 2018, author Karsten Staehr. Post-Communist Economies, Vol. 30, No. 1, pp. 1-18.
The choice of reforms and economic system in the Baltic states, 2017, author Karsten Staehr. Comparative Economic Studies, Vol. 59, No. 4, pp. 498-519.
Uncovered interest parity in Central and Eastern Europe: expectations and structural breaks, 2017, authors Juan Carlos Cuestas, Fabio Filipozzi and Karsten Staehr. Review of International Economics, 2017, Vol. 25, Issue 4, pp. 695–710 (Earlier version: Working Papers of Eesti Pank, No. 4/2015).
Macroeconomic factors in the dynamics of corporate and household saving. Evidence from Central and Eastern Europe, 2017, authors Merike Kukk and Karsten Staehr. Emerging Markets Finance and Trade, Vol. 53, Issue 11, pp. 2585-2608 (Earlier version: Working Papers of Eesti Pank, No. 5/2015).
Sectoral change and productivity growth during boom, bust and recovery in Central and Eastern Europe, 2017, authors Andres Kuusk, Karsten Staehr and Uku Varblane. Economic Change and Restructuring, Vol. 50, Issue 1, pp. 21-43 (Earlier version: Working Papers of Eesti Pank, No. 2/2015).
Contemporary Trends and Challenges in Finance, 2017, editors Krzysztof Jajuga, Lucjan Orlowski and Karsten Staehr. Springer.
Identification of households prone to income underreporting: employment status or reported business income?, 2017, authors Merike Kukk and Karsten Staehr. Public Finance Review, Vol 45, No. 5, pp. 599-627.
To be or not to be in the rouble zone. Lessons from the Baltic states, 2016, authors Natalia Levenko and Karsten Staehr. CESifo Forum, Vol. 17, No. 4, pp. 34-42.
Public finances and fiscal policy in the Baltic states, 2016, author Karsten Staehr. Research in Economics and Business: Central and Eastern Europe, Vol. 8, No. 1, pp. 26-41.
Estimating consumption responses to income shocks of different persistence using self-reported income measures, 2016, authors Merike Kukk, Dmitry Kulikov and Karsten Staehr. Review of Income and Wealth, Vol. 62, Issue 2, pp. 311–333.
The European debt crisis and fiscal reactions in Europe 1999-2014, 2016, authors Guido Baldi and Karsten Staehr. International Economics and Economic Policy, Vol. 13, Issue 2, pp. 297–317 (Earlier version: Working Papers of Eesti Pank, No. 5/2013).
Exports and domestic demand pressure: a dynamic panel data model for the euro area countries, 2015, authors Elena Bobeica, Paulo Soares Esteves, António Rua and Karsten Staehr. Review of World Economics, Vol. 152 (1), pp. 107−125 (Earlier version: ECB Working Papers, No 1777, European Central Bank).
Exchange rate policy in the Baltic states: from extreme inflation to euro membership, 2015, author Karsten Staehr. CESifo Forum, Vol. 16, No 4. pp. 9-18.
The choice of exchange rate regime in emerging-market and transition economies, 2015, author Karsten Staehr. Published in Palgrave Dictionary of Emerging Markets and Transition Economies (eds. Jens Hölscher and Horst Tomann), Palgrave Macmillan, Chapter 4, pp. 60-91.
Currency reforms in emerging-markets and transition economies, 2015, author Karsten Staehr. Published in Palgrave Dictionary of Emerging Markets and Transition Economies (eds. Jens Hölscher and Horst Tomann), Palgrave Macmillan, Chapter 2, pp. 28-38.
Economic growth and convergence in the Baltic states: caught in a middle income trap?, 2015, author Karsten Staehr. Intereconomics, Vol. 50, No. 5, pp. 274-280.
Do foreign exchange forecasters believe in Uncovered Interest Parity?, 2015, authors Juan Carlos Cuestas, Fabio Filipozzi and Karsten Staehr. Economics Letters, Vol. 133, p. 92-95.
The Great (De)leveraging in the GIIPS Countries. Domestic Credit and Net Foreign Liabilities 1998–2013, 2014, authors Juan Carlos Cuestas and Karsten Staehr. Working Papers of Eesti Pank, No 4/2014.
The Euro Plus Pact. Competitiveness and external capital flows in the EU Countries, 2015, authors Hubert Gabrisch and Karsten Staehr. Journal of Common Market Studies, Vol. 53, No. 4. pp. 558-576. Earlier version: ECB Working Papers, No. 1650 and Working Papers of Eesti Pank, No. 5/2012.
Enhanced fiscal governance in the European Union: the Fiscal Compact, 2015, authors Merike Kukk and Karsten Staehr. Baltic Journal of European Studies, Vol. 5, No. 1, pp. 73-92.
Majandusbuum ja -kriis Kesk- ja Ida-Euroopas aastatel 2005-2010, 2014, autor Karsten Staehr. In publication Pikk üleminekuperiood: Eesti valuutakomitee 1992-2010 (ed. Ilmar Lepik). Eesti Pank (Bank of Estonia), pp. 174-190.
The Maastricht inflation criterion and entry to the eurozone: challenges and options for EU countries from central and eastern Europe, 2014, author Karsten Staehr. In publication Poland and the Eurozone (ed. Jens Hölscher). Palgrave Macmillan, Ch. 8, pp. 139-164.
Income underreporting by households with business income. Evidence from Estonia, 2014, authors Merike Kukk and Karsten Staehr. Post-Communist Economies, Vol. 26, No. 2, pp. 257-276. Earlier version: Working Papers of Eesti Pank, No 6/2013.
Government debt dynamics and the global financial crisis: has anything changed in the EA12?, 2014, authors Juan Carlos Cuestas, Luis Alberiko Gil-Alana and Karsten Staehr. Economics Letters, Vol. 124, No. 1, pp. 64-66.
Corporate income taxation in Estonia. Is it time to abandon dividend taxation?, 2014, author Karsten Staehr. TUT Economic Research Series, Research Brief, No. RB-2014/1.
Perceptions of unreported economic activities in Baltic firms. Individualistic and non-individualistic motives, 2013, authors Jaanika Meriküll, Tairi Rõõm and Karsten Staehr. In (Dis)honesty in Management: Manifestations and Consequences (eds. Maaja Vadi and Tiia Vissak ). Emerald. Earlier version: Working Papers of Eesti Pank, No. 8/2012.
Covered interest parity and the global financial crisis in four Central European countries, 2013, authors Fabio Filipozzi and Karsten Staehr. Eastern European Economics, Vol. 51, Issue 1.
Fiscal shocks and budget balance persistence in the EU countries from Central and Eastern Europe, 2013, authors Juan-Carlos Cuestas and Karsten Staehr. Applied Economics, Vol. 45, No. 22, pp. 3211—3219. Earlier version: Working Papers of Eesti Pank, No 8/2011.
External capital flows, international price competitiveness and short-term economic growth in Latvia, 2012, author Karsten Staehr. European Economy - Occasional Papers, No. 120, November.
Housing equity withdrawal and consumption dynamics in Estonia 2002—2011, 2012, authors Madis Aben, Merike Kukk and Karsten Staehr. Research in Economics and Business: Central and Eastern Europe, Vol. 4, No. 1, pp. 19—40.
Uncovered interest parity in Central and Eastern Europe: convergence and the global financial crisis, 2012, authors Fabio Filipozzi and Karsten Staehr. Discussions on Estonian Economic Policy, Vol. 20, No. 1, pp. 58—82.
Funded pension, fiscal strains and stabilisation policies in Central and Eastern Europe, 2012, author Karsten Staehr. In Limited Fiscal Space in CESEE: Needs and Options for Post-Crisis Reform. 68th East Jour Fixe of the Oesterreichische Nationalbank. Proceedings of OeNB Workshop, No. 17, Oesterreichische Nationalbank, pp. 41—60.
Consumption sensitivities in Estonia: income shocks of different persistence, 2012, authors Merike Kukk, Dmitry Kulikov and Karsten Staehr. Working Papers of Eesti Pank, No. 3/2012.
A further investigation of unemployment persistence in European transition economies, 2011, authors Juan-Carlos Cuestas, Luis Alberiko and Karsten Staehr. Journal of Comparative Economics, Vol. 39, No. 4, pp. 514—532.
The impact of the global financial crisis on output performance across the European Union: vulnerability and resilience, 2011, authors Karin Kondor-Tabun and Karsten Staehr. In Financial and Economic Crisis: Causes, Consequences and the Future (eds. Lacina, L., Rozmahel, P., Rusek, A.). Martin Striz Publishing, Ch. 7, pp. 128—158.
Earlier version: Working Papers of Eesti Pank, No 3/2011.
Democratic and market-economic reforms in the post-communist countries. The impact of enlargement of the European Union, 2011, author Karsten Staehr. Eastern European Economics, Vol. 49, No. 5, pp. 3—28.
The global financial crisis and public finances in the new EU countries in Central and Eastern Europe: Developments and challenges, 2010, author Karsten Staehr. Public Finance and Management, Vol. 10, No. 4, pp. 671—712. Earlier version: Working Papers of Eesti Pank, No 2/2010.
Unreported employment and envelope wages in mid-transition: Comparing developments and causes in the Baltic countries, 2010, authors Jaanika Meriküll and Karsten Staehr. Comparative Economic Systems, Vol. 52, No. 4, pp. 637—670.
Earlier version: Working Papers of Eesti Pank, No 6/2008.
Income convergence and inflation in Central and Eastern Europe: Does the sun always rise in the east?, 2010, author Karsten Staehr. Eastern European Economics, Vol. 48, No. 5, pp. 38—62. Earlier version: Working Papers of Eesti Pank, No 4/2010.
The Maastricht Inflation Criterion: What is the effect of Enlargement of the European Union?, 2010, authors John Lewis and Karsten Staehr. Journal of Common Market Studies, Vol. 48, No. 3, pp. 687—708.
Inflation in the new EU countries from central and eastern Europe: Theories and panel data estimations, 2009, author Karsten Staehr. European Economy Occasional Papers, No. 50 (What drives inflation in the New EU Member States?), Vol. 50, pp. 35—58.
Estimates of employment and welfare effects of personal labour income taxation in a flat-tax country: The case of Estonia, 2009, author Karsten Staehr. In Microfoundations of Economic Success: Lessons from Estonia, David G. Mayes (Ed.), Edward Elgar Publishing., pp. 242—290.
A microeconometric analysis of household saving in Estonia: income, wealth and financial exposure, 2009, author Karsten Staehr. In Microfoundations of Economic Success: Lessons from Estonia, David G. Mayes (Ed.), Edward Elgar Publishing, pp. 190—241.
Why do individuals evade payroll and income taxation in Estonia?, 2008, authors Kenneth Kriz, Karsten Staehr, Jaanika Merikull and Alari Paulus. In Shadow Economy, Corruption and Governance, Michael Pickhardt & Edward Shinnick (Eds.), Edward Elgar Publishing, pp. 240—264.
Fiscal policies and business cycles in an enlarged euro area, 2008, author Karsten Staehr. Economic Systems, Vol. 32, No. 1, pp. 46—69.
Linkages between political and economic reforms in the post-communist countries, 2006, author Karsten Staehr. Nordic Journal of Political Economy, Vol. 32, No. 2, pp. 113—138.
Two-stage bargaining with coverage extension in a dual labour market, 2000, authors Mark Roberts, Torben Tranaes and Karsten Staehr. European Economic Review, Vol. 44, No. 1, pp. 181—200.
The soft budget constraint in the transition economy - and the prospect of privatization, 1993, author Karsten Staehr. Acta Oeconomica, Vol. 45, No. 3—4.