Tallinn University of Technology

Research topics

  • Macroeconomics
  • Public Finance
  • International Finance
  • Public Economics
  • Structural Change

Thesis supervision

I supervise the writing of bachelor and master's theses within macroeconomics, fiscal policy, international economics and public economics. I only supervise theses within finance in exceptional cases.

Before contacting me, please observe the following:

  • The thesis must be written in English.
  • The student must take contact at least three months before the submission deadline.
  • The student must observe standard academic standards and abstain from all forms of plagiarism
  • The handout “Karsten’s advice on writing bachelor and master theses” provides information on how to write a bachelor or master thesis.

Recent writings

Degler, Moritz & Karsten Staehr (2021): “Price and income convergence and the dynamic Penn effect in Central and Eastern Europe”, Economic Change and Restructuring, vol. 54, no. 3, pp. 621-635. [www]

Staehr, Karsten & Lenno Uusküla (2021): “Macroeconomic and macro-financial factors as leading indicators of non-performing loans. Evidence from the EU countries”, Journal of Economic Studies, vol. 48, no. 3, pp. 720-740. [www]

Randveer, Martti & Karsten Staehr (2021): “Macroeconomic trends in the Baltic states before and after accession to the EU”, in Michael Landesmann & István Székely (eds.): Does EU Membership Facilitate Convergence? The Experience of the EU’s Eastern Enlargement, London, UK: Palgrave-Macmillan, vol. I, ch. 5, pp. 211-237. [www]

Harkmann, Kersti & Karsten Staehr (2021): “Current account drivers and exchange rate regimes in Central and Eastern Europe”, Journal of International Money and Finance, vol. 110, art. no. 102286. [www]

Staehr, Karsten (2021): “Export performance and capacity pressures in Central and Eastern Europe”, International Economics, vol. 165, pp. 204-217. [www]

Staehr, Karsten & Katri Urke (2021): “The coronavirus pandemic and Next Generation EU in the Baltic States”, CESifo Forum, vol. 22, no. 1, pp. 20-25. [www]

Reigl, Nicolas & Karsten Staehr (2020): “Negative interest rates in the five Eurozone countries from Central and Eastern Europe”, CESifo Forum, vol. 21, no. 1, pp. 24-30. [www]

Reigl, Nicolas & Karsten Staehr (2020): “Negative Interest Rates in the Five Eurozone Countries from Central and Eastern Europe”, CESifo Forum, vol. 21, no. 1, pp. 24-30. [www]

Kukk, Merike, Alari Paulus & Karsten Staehr (2020): “Cheating in Europe: underreporting of self-employment income in comparative perspective”, International Tax and Public Finance, vol. 27, no. 2, pp. 363-390. [www]

Cuestas, Juan Carlos, Javier Ordóñez & Karsten Staehr (2019): “Unit labour costs and the dynamics of output and unemployment in the south European crisis countries”, Empirica. Journal of European Economics, vol. 46, no. 3, pp. 597-616. [www]

Staehr, Karsten & Robert Vermeulen (2019): “Heterogeneous effects of competitiveness shocks on macroeconomic performance across euro area countries”, World Economy, vol. 42, no. 1, pp. 68-86. [www]

Levenko, Natalia, Kaspar Oja & Karsten Staehr (2019): “TFP growth in central and eastern Europe before, during and after the global financial crisis”, Post-Communist Economies, vol. 31, no. 2, 137-160. [www]

Ferraro, Simona, Jaanika Meriküll & Karsten Staehr (2018): “Minimum wages and the wage distribution in Estonia”, Applied Economics, vol. 50, no. 49, pp. 5253-5268. [www]

Ferraro, Simona, Birgit Hänilane & Karsten Staehr (2018): “Minimum wages and employment retention. A microeconometric study for Estonia”, Baltic Journal of Economics, vol. 18, no. 1, pp. 51-67.

Staehr, Karsten (2018): “Capital flows and growth dynamics in Central and Eastern Europe”,  Post-Communist Economies, vol. 30, no. 1, pp. 1-18. [Free downloads: http://www.tandfonline.com/eprint/ekRAyX29apgacGUdRYFN/full]

Cuestas, Juan Carlos & Karsten Staehr (2017): “The great leveraging in the European crisis countries. Domestic credit and net foreign liabilities”, Journal of Economic Studies, vol. 44, no. 6, pp. 895-910. [www]

Staehr, Karsten (2017): “The choice of reforms and economic system in the Baltic states?”, Comparative Economic Studies, vol. 59, no. 4, pp. 498-519. [www]

Kukk, Merike & Karsten Staehr (2017): “Identification of households prone to income underreporting: employment status or reported business income?”, Public Finance Review, vol. 45, no. 5, pp. 599-627.

Cuestas, Juan Carlos, Fabio Filipozzi & Karsten Staehr (2017): “Uncovered interest parity in Central and Eastern Europe: expectations and structural breaks”, Review of International Economics, vol. 25, no. 4, pp. 695-710.

Kukk, Merike & Karsten Staehr (2017): “Macroeconomic factors in the dynamics of corporate and household saving. Evidence from central and eastern Europe”, Emerging Markets Finance and Trade, vol. 53, no. 11, pp. 2585-2608. [Free downloads: http://www.tandfonline.com/eprint/SQ2KZy8jk5yxMv8nwvMf/full]

Kuusk, Andres, Karsten Staehr & Uku Varblane (2017): “Sectoral change and productivity growth during boom, bust and recovery in Central and Eastern Europe”, Economic Change and Restructuring, vol. 50, no. 1, pp. 21-43. [www]

Levenko, Natalia & Karsten Staehr (2016): “To be or not to be in the rouble zone. Lessons from the Baltic states”, CESifo Forum, vol. 17, no. 4, pp. 34-42.

Staehr, Karsten (2016): “Capital flows and growth dynamics in Central and Eastern Europe”, Working Papers of Eesti Pank, no. 10/2016

Staehr, Karsten (2016): “Public finances and fiscal policy in the Baltic states”, Review of Economics and Business: Central and Eastern Europe, vol. 8, no. 1, pp. 26-41.

Kukk, Merike; Dmitry Kulikov & Karsten Staehr (2016): “Estimating consumption responses to income shocks of different persistence using self-reported income measures”, Review of Income and Wealth, vol. 62, no. 2, pp. 311-333.

Baldi, Guido & Karsten Staehr (2016): “The European debt crisis and fiscal reactions in Europe 1999-2014”, International Economics and Economic Policy, vol. 13, no. 2, pp. 297-317. 

Bobeica, Elena, Paulo Soares Esteves, António Rua & Karsten Staehr (2016): “Exports and domestic demand pressure: a dynamic panel data model for the euro area countries”, Review of World Economics (Weltwirtschaftliches Archiv), vol. 152, no. 1, pp. 107-125.

Staehr, Karsten (2015): “Exchange rate policy in the Baltic states: from extreme inflation to euro membership”, CESifo Forum, vol. 16, no. 4, pp. 9-18.

Staehr, Karsten (2015): “The choice of exchange rate regime in emerging-market and transition economies”, in Jens Hӧlscher & Horst Tomann (eds.): Palgrave Dictionary of Emerging Markets and Transition Economics, Palgrave Macmillan, ch. 4, pp. 60-91.

Staehr, Karsten (2015): “Currency reforms in emerging-markets and transition economies”, in Jens Hӧlscher & Horst Tomann (eds.): Palgrave Dictionary of Emerging Markets and Transition Economics, Palgrave Macmillan, ch. 2, pp. 28-38.

Staehr, Karsten (2015): “Economic growth and convergence in the Baltic states: caught in a middle income trap?”, Intereconomics, vol. 50, no. 5, pp. 274-280.

Cuestas, Juan Carlos, Fabio Filipozzi, Karsten Staehr (2015): “Do foreign exchange forecasters believe in Uncovered Interest Parity?”, Economics Letters, vol. 133, pp. 92-95.

Gabrisch, Hubert & Karsten Staehr (2015): "The Euro Plus Pact. Competitiveness and external capital flows in the EU Countries", Journal of Common Market Studies, vol. 53, no. 3, pp. 558-576.

ukk, Merike & Karsten Staehr (2015): “Enhanced fiscal governance in the European Union: the Fiscal Compact”, Baltic Journal of European Studies, vol. 5, no. 1, pp. 73-92.

Staehr, Karsten (2015): “Boom and crisis in central and eastern Europe, 2005-2010”, Ch. 12 in Ilmar Leping (ed.): A Long Transition: the Story of the Estonian Currency Board Arrangement 1992–2010, Eesti Pank, ch. 12, pp. 166-179.

Staehr, Karsten (2014): “The Maastricht Inflation Criterion and entry to the eurozone: challenges and options for EU countries from Central and Eastern Europe”, in Jens Hölscher (ed.): Poland and the Eurozone, Palgrave Macmillan, ch. 8, pp. 139-164.

Kukk, Merike & Karsten Staehr (2014): “Income underreporting by households with business income. Evidence from Estonia”, Post-Communist Economies, vol. 26, no. 2, pp. 257-276.

Cuestas, Juan Carlos; Luis Alberiko Gil-Alana & Karsten Staehr (2014): “Government debt dynamics and the global financial crisis: has anything changed in the EA12?”, Economics Letters, vol. 124, no. 1, pp. 64-66.

Kukk, Merike & Karsten Staehr (2014): “Identification of income underreporting by the self-employed: employment status or reported business income?”, TUT Economic Research Series, Working Paper, no. WP-2014/1.

Meriküll, Jaanika & Karsten Staehr (2013): “Unregistered production and employment in Estonia: measurements and developments”, Journal of Applied Economics and Business, www.aebjournal.org/, vol. 1, no. 2, pp. 23-34.  [www]

Staehr, Karsten (2013): “Austerity in the Baltic States since the global financial crisis”, Intereconomics, vol. 48, no. 5, pp. 293-302. [www]

Kukk, Merike & Karsten Staehr (2013): “Income underreporting by households with business income. Evidence from Estonia”, Working Papers of Eesti Pank, no. 6/2013. [www]

Baldi, Guido & Karsten Staehr (2013): “The European debt crisis and fiscal reaction functions in Europe 1999-2012”, Working Papers of Eesti Pank, no. 5/2013; DIW Berlin Diskussionspapiere / Discussion Papers, no. 1295.

Meriküll, Jaanika; Tairi Rõõm & Karsten Staehr (2013): “Perceptions of unreported economic activities in Baltic firms. Individualistic and non-individualistic motives”, in Maaja Vadi & Tiia Vissak (eds.): (Dis)honesty in Management: Manifestations and Consequences, Emerald, pp. 85-125. [www]

Filipozzi, Fabio & Karsten Staehr (2013): “Covered interest parity and the global financial crisis in four Central European countries”, Eastern European Economics, vol. 51, no. 1, pp. 21-35. [www]

Stæhr, Karsten (2013): “Økonomisk vækst og konvergens i Østeuropa” [Economic growth and convergence in Eastern Europe], Samfundsøkonomen, DJØF [Danish Association of Lawyers and Economists], vol. 2013, no. 1, pp. 15-23. [www]

Gabrisch, Hubert & Karsten Staehr (2012): “The Euro Plus Pact: competitiveness and external capital flows in the EU countries”, Working Papers of Eesti Pank, no. 5/2012; IOS Working Paper, no. 324.

Staehr, Karsten (2012): “External capital flows, international price competitiveness and short-term economic growth in Latvia”, European Economy – Occasional Papers, no. 120, pp. 19-39. [www]

Cuestas, Juan Carlos & Karsten Staehr (2013): “Fiscal shocks and budget balance persistence in the EU countries from Central and Eastern Europe”, Applied Economics, vol. 45, no. 22, pp. 3211-3219. [www]

Aben, Madis, Merike Kukk & Karsten Staehr (2012): “Housing equity withdrawal and consumption dynamics in Estonia 2002-2011”, Research in Economics and Business: Central and Eastern Europe, vol. 4, no 1, pp. 19-40. [www]

Staehr, Karsten (2012): “Funded pension, fiscal strains and stabilisation policies in Central and Eastern Europe”, in Peter Mooslechner & Doris Ritzberger-Grünwald (eds.): Limited Fiscal Space in CESEE: Needs and Options for Post-Crisis Reform. 68th East Jour Fixe of the Oesterreichische Nationalbank, Proceedings of OeNB Workshops, no. 17, Oester­reichische Nationalbank, pp. 41-60. [www]

Filipozzi, Fabio & Karsten Staehr (2012): “Uncovered interest parity in Central and Eastern Europe: convergence and the global financial crisis”, Discussions on Estonian Economic Policy, vol. 20, no. 1, pp. 58-82. [www]

Kukk, Merike; Dmitry Kulikov & Karsten Staehr (2012): “Consumption sensitivities in Estonia: income shocks of different persistence”, Working Papers of Eesti Pank, no. 3/2012 (ISBN 978-9949-493-05-0). [www]

Cuestas, Juan-Carlos; Luis Alberiko Gil-Alana & Karsten Staehr (2011): “A further investigation of unemployment persistence in European transition economies”, Journal of Comparative Economics, vol. 39, no. 4, pp. 514-532. [www]

Kondor, Karin & Karsten Staehr (2011): “The impact of the global financial crisis on output performance across the European Union: vulnerability and resilience”, in Lacina, Lubor; Petr Rozmahel & Antonin Rusek (eds.): Financial and Economic Crisis: Causes, Consequences and the Future, Bucovice, Czech Republic: Martin Striz Publishing (ISBN 978-80-87106-45-7), Ch. 7, pp. 128-158. [www]

Staehr, Karsten (2011): “Democratic and market-economic reforms in the post-communist countries. The impact of enlargement of the European Union”, Eastern European Economics, vol. 49, no. 5, pp. 5-28. [www]

Staehr, Karsten (2010): “The Global Financial Crisis and Public Finances in the New EU Countries in Central and Eastern Europe: Developments and Challenges”, Public Finance and Management, vol. 10, no 4, pp. 671-712. [www]

Staehr, Karsten (2010): “Income convergence and inflation in Central and Eastern Europe: does the sun always rise in the east?”, Eastern European Economics, vol. 48, no. 5, pp. 38-62. [www]

Merikull, Jaanika & Karsten Staehr (2010): “Unreported employment and envelope wages in mid-transition: Comparing developments and causes in the Baltic countries”, Comparative Economic Systems, vol. 52, no. 4, pp. 637-670. [www]

Lewis, John & Karsten Staehr (2010): “The Maastricht inflation criterion: What is the effect of enlargement of the European Union?”, Journal of Common Market Studies, vol. 48, no. 3, pp. 687-708. [www]

Staehr, Karsten (2009): “Inflation in the new EU countries from Central and Eastern Europe: Theories and panel data estimations”, European Economy. Occasional Papers, vol. 50, (“What drives inflation in the New EU Member States?” ISBN 978-92-79-11264-5), pp. 35-58. [www]

Staehr, Karsten (2009): “Estimates of employment and welfare effects of personal labour income taxation in a flat-tax country: The case of Estonia”, in Mayes, David (ed.): Microfoundations of Economic Success: Lessons from Estonia, Edward Elgar (ISBN 978-1-84720-929-0), ch. 7, pp. 242-290. [www]

Kulikov, Dmitry, Annika Paabut & Karsten Staehr (2009): “A microeconometric analysis of household saving in Estonia: income, wealth and financial exposure”, in Mayes, David (ed.): Microfoundations of Economic Success: Lessons from Estonia, Edward Elgar (ISBN 978-1-84720-929-0), ch. 6, pp. 190-241.[www]

Kriz, Kenneth, Jaanika Merikull, Alari Paulus & Karsten Staehr (2008): “Why do individuals evade payroll and income taxation in Estonia?”, in Pickhardt, Michael & Edward Shinnick (eds.): Shadow Economy, Corruption and Governance, Edward Elgar (ISBN 978 1 84844 079 1), pp. 240-264. [www]

Staehr, Karsten (2008): “Fiscal policies and business cycles in an expanded euro area”, Economic Systems, vol. 32, no. 1, pp. 46-69. [www]

Stæhr, Karsten (2007): “Economic developments in the Baltic States: success and new challenges”, Danish Central Bank Monetary Review, no. 2007/4, pp. 79-96. [www]

Staehr, Karsten (2006): “Linkages between political and economic reforms in the post-communist countries”, Nordic Journal of Political Economy, vol. 32, no. 2, pp. 113-138. [www]

Stæhr, Karsten (2006): "Risk and uncertainty in cost benefit analysis”, Toolbox Paper, Environmental Assessment Institute, Copenhagen (ISBN 87-7992-041-1).

Staehr, Karsten (2005): “Reforms and economic growth in transition economies: complementarity, sequencing and speed”, European Journal of Comparative Economics, vol. 2, no. 2, pp. 177-202. [www]

Staehr, Karsten (2004): “The economic transition in Estonia. Background, reforms and results”, in Rindzeviciute, Egle (ed.): Contemporary Change in Estonia, Baltic and East European Studies, vol. 4, Sodertorns hogskola (ISBN: 91-85139-04-1, ISSN: 1651-7849), pp. 37-67. [www]

© All rights reserved 2008-2021 Karsten Staehr. All information subject to change.