Lenno Uusküla Curriculum Vitae

Senior Economist
E-mail: lenno.uuskyla@eestipank.ee

Research interests:

Theoretical and applied macroeconomics
Monetary economics
International macroeconomics
Firm creation and destruction
Time-series econometrics

Education:

2011 — Ph.D., Economics, European University Institute, Italy
2003 — MA, Economics, University of Tartu, Estonia
2002 — MA, European Economic Studies, College of Europe, Belgium
2001 — BA, Economics, University of Tartu, Estonia

Experience:

2012—current: Senior Economist, Research Division, Economics and Research Department, Bank of Estonia, Estonia
2011—2012: Senior Economist, Monetary Policy and International Division, Economics and Research Department, Bank of Estonia, Estonia
2011: Senior Economist, Research Division, Economics and Research Department, Bank of Estonia, Estonia
2003—2011: Economist, Research Department, Bank of Estonia, Estonia (temporary leave for the period of studies and work at the ECB)
2010—2011: Economist, Directorate Economic Developments, DG Economics, European Central Bank, Germany
2007—2008: Research and teaching assistant in 2007—2009, European University Institute), Italy
2003—2005: Lecturer, Estonian Business School, Estonia

Selected publications:

• Macroeconomic and macro-financial factors as leading indicators of non-performing loans. Evidence from the EU countries, 2020, authors Karsten Staehr and Lenno Uusküla. Journal of Economic Studies, 47(4), (download). Previous version: Forecasting models for non-performing loans in the EU countries, 2017, Bank of Estonia working paper no 10.

• Alternative frameworks for measuring credit gaps and setting countercyclical capital buffers, forthcoming, authors Nicolas Reigl and Lenno Uusküla. Journal of Financial Economic Policy, new draft here (download), Example Excel
  file for Estonia, previous version: Eesti Pank working paper no. 7 (download).

• Deep Habits and the Exchange Rate Pass-through, 2019, authors Punnoose Jacob (Reserve Bank of New Zealand) and Lenno Uusküla. Journal of Economic Dynamics and Control, 105: 67-89 (download), download an earlier working paper. 

• Private Debt and the Macroeconomy, 2016, author Lenno Uusküla. Review of Economic Analysis, 8 (2), 153−176, (download).
• Deep Habits and Exchange Rate Pass-through, 2016, authors Punnoose Jacob and Lenno Uusküla. Centre for Applied Macroeconomic Analysis (CAMA) Working Paper, No 17, April.

• Monetary Transmission Mechanism with Firm Turnover, 2016, author Lenno Uusküla. Journal of Macroeconomics, Vol. 50, December, pp. 1-18. Earlier version: Working Papers of Eesti Pank, No 7/2016

• Euro Area Monetary Policy Transmission in Estonia, 2015, authors Gertrud Errit and Lenno Uusküla. Baltic Journal of Economics, Vol 14, Issue 1-2, pp. 55-77.
• The euro exchange rate during the European sovereign debt crisis - dancing to its own tune?, 2014, authors Michael Ehrmann, Chiara Osbat, Jan Strasky and Lenno Uusküla. Journal of International Money and Finance, December, Vol. 49, pp. 319-339. Earlier versions: ECB Working paper series, No. 1532/April 2013 ja Working Papers of Eesti Pank, No 3/2013.
• Co-author in A Long Transition: The Estonian Currency Board Arrangement 1992-2010  (ed. Ilmar Lepik), 2014, Bank of Estonia.
  Chapter 9: The Financial and Economic Crisis in the USA and Europe (pp 129-136)
  Chapter 10: The Estonian Economy at the Start of the Global Crisis (pp. 137-146)
• Deep habits and the dynamic effects of monetary policy shocks, 2010, authors Morten O. Ravn, Stephanie Schmitt-Grohé, Martín Uribe and Lenno Uusküla. Journal of the Japanese and International Economies, Elsevier, Vol 24 (2), pp 236—258.
  Earlier versions: Economics Working Papers, ECO2008/40, European University Institute, and CEPR Discussion Papers, No 7128.
• Liquidity and productivity shocks: a look at sectoral firm creation, 2009, author Lenno Uusküla. In Microfoundations of Economic Success: Lessons from Estonia, David G. Mayes (Ed.). Edward Elgar Publishing. Earlier version: Working Papers of Eesti Pank, No 5/2008.
• The principles of wage formation in Estonian companies, 2009, authors Tairi Rõõm and Lenno Uusküla. In Microfoundations of Economic Success: Lessons from Estonia, David G. Mayes (Ed.). Edward Elgar Publishing. Earlier version: Working Papers of Eesti Pank, No 5/2006.
• The effect of financial depth on the monetary transmission, 2007, authors Danny Pitzel and Lenno Uusküla. The IUP Journal of Monetary Economics. Earlier version: Working Papers of Eesti Pank, No 10/2005.
• Critical levels of debt?, 2005, authors Lenno Uusküla, Peeter Luikmel and Jana Kask. Seminar Series of Eesti Pank "Financial Sector Research in Estonia", Lenno Uusküla (Ed.). Earlier version: Working Papers of Eesti Pank, No 3/2005.

Work in progress:

• Deep Habits and Exchange Rate Pass-through, autorid Punnoose Jacob and Lenno Uusküla, Working Papers of Eesti Pank 4/2016

• Firm Turnover and Inflation Dynamics, 2015. Working Papers of Eesti Pank, No 1/2015

• The Impact of private debt on economic growth, 2011, co-authored with Liina Kulu and Martti Randveer. Working Papers of Eesti Pank, No 10/2011

Referee:

The Economic Journal
Journal of International Economics
Journal of Economic Dynamics and Control
International Journal of Central Banking
Journal of International Money and Finance
Journal of Comparative Economics
Baltic Journal of Economics
Research in Economics and Business
Panoeconomicus
Eastern European Economics
Economics and Business Letters
Economies
The Journal of International Trade & Economic Development
Bank of Lithuania working paper series
Economics and Business Letters