Quantitative Economics people
Jaan Masso
Associate Professor of Applied Econometrics, Head of the Chair of Economic Modelling
PhD (University of Tartu, 2005)
Research interests: labour economics, foreign direct investments, international trade, innovations, science policy
Teaching: Macroeconomics
Selected publications
Benkovskis, K., Masso, J., Tkacevs, O., Vahter, P., Yashiro, N. (2020), ”Export and productivity in global value chains: comparative evidence from Latvia and Estonia”, Review of World Economics, 156(3), pp. 557-577
Vahter, P., Masso, J. (2019), “The contribution of multinationals to wage inequality: foreign ownership and the gender pay gap”, Review of World Economics, Vol. 155, Issue 1, pp. 105-148.
Masso, J., Eamets, R., Mõtsmees, P (2014), “Temporary migrants and occupational mobility: evidenc
PhD (University of Tartu, 2005)
Research interests: labour economics, foreign direct investments, international trade, innovations, science policy
Teaching: Macroeconomics
Selected publications
Benkovskis, K., Masso, J., Tkacevs, O., Vahter, P., Yashiro, N. (2020), ”Export and productivity in global value chains: comparative evidence from Latvia and Estonia”, Review of World Economics, 156(3), pp. 557-577
Vahter, P., Masso, J. (2019), “The contribution of multinationals to wage inequality: foreign ownership and the gender pay gap”, Review of World Economics, Vol. 155, Issue 1, pp. 105-148.
Masso, J., Eamets, R., Mõtsmees, P (2014), “Temporary migrants and occupational mobility: evidenc
Hakan Eratalay
Lecturer of Econometrics
Senior macrto modeller, Luminor Bank
PhD in Economics (University of Alicante, 2012)
Research interests: modelling and estimation of financial volatility models, financial networks, theoretical and applied financial econometrics, time series econometrics
Teaching: Financial Econometrics, Multivariate Statistics, Introduction to Matlab
Selected publications
Nõu, A., Lapitskaya, D., Eratalay, M. H., & Sharma, R. (2023). Predicting stock return and volatility with machine learning and econometric models-a comparative case study of the Baltic stock market. International Journal of Computational Economics and Econometrics, 13(4), 446-489.
Cortés Ángel, A. P., & Eratalay, M. H. (2022). Deep diving into the S&P Europe 350 index network and its reaction to COVID-19. Journal of Computational Social Science, 5(2), 1343-1408.
Senior macrto modeller, Luminor Bank
PhD in Economics (University of Alicante, 2012)
Research interests: modelling and estimation of financial volatility models, financial networks, theoretical and applied financial econometrics, time series econometrics
Teaching: Financial Econometrics, Multivariate Statistics, Introduction to Matlab
Selected publications
Nõu, A., Lapitskaya, D., Eratalay, M. H., & Sharma, R. (2023). Predicting stock return and volatility with machine learning and econometric models-a comparative case study of the Baltic stock market. International Journal of Computational Economics and Econometrics, 13(4), 446-489.
Cortés Ángel, A. P., & Eratalay, M. H. (2022). Deep diving into the S&P Europe 350 index network and its reaction to COVID-19. Journal of Computational Social Science, 5(2), 1343-1408.
Dmitry Kulikov
Senior Economist at Eesti Pank (Central Bank of Estonia)
PhD in Economics (University of Aarhus, 2004)
Research interests: theoretical and applied econometrics, empirical macroeconomics, long memory models, financial volatility models
Teaching: Macroeconometrics, Time Series Econometrics (Stockholm School of Economics in Riga, Tallinn Technical University)
Selected publications
Baumann, Ursel & Darracq Pariès, Matthieu & Westermann, Thomas & Riggi, Marianna & Bobeica, Elena & Meyler, Aidan & Böninghausen, Benjamin & Fritzer, Friedrich & Trezzi, Riccardo & Jonckheere, Jana & , 2021. "Inflation expectations and their role in Eurosystem forecasting," Occasional Paper Series 264, European Central Bank.
PhD in Economics (University of Aarhus, 2004)
Research interests: theoretical and applied econometrics, empirical macroeconomics, long memory models, financial volatility models
Teaching: Macroeconometrics, Time Series Econometrics (Stockholm School of Economics in Riga, Tallinn Technical University)
Selected publications
Baumann, Ursel & Darracq Pariès, Matthieu & Westermann, Thomas & Riggi, Marianna & Bobeica, Elena & Meyler, Aidan & Böninghausen, Benjamin & Fritzer, Friedrich & Trezzi, Riccardo & Jonckheere, Jana & , 2021. "Inflation expectations and their role in Eurosystem forecasting," Occasional Paper Series 264, European Central Bank.
Priit Vahter
Professor of Applied Economics
PhD in Economics (University of Nottingham, 2010)
Research interests: Determinants of productivity of firms, economics of innovation, international trade and FDI
Teaching: International Economics, Economics of Innovation, Topics on Trade and Innovation (PhD)
Selected publications:
Vahter, P.; Vadi, M. (2024). The relationship of technological and organizational innovation with firm performance: Opening the black box of dynamic complementarities. Technological Forecasting and Social Change, 206, 123516.
Love, J.; Roper, S.; Vahter, P. (2023). The dynamics of abandoned innovation activities: Learning from failure or learning to prevent failure? Research Policy, 52 (8), 1−17.
PhD in Economics (University of Nottingham, 2010)
Research interests: Determinants of productivity of firms, economics of innovation, international trade and FDI
Teaching: International Economics, Economics of Innovation, Topics on Trade and Innovation (PhD)
Selected publications:
Vahter, P.; Vadi, M. (2024). The relationship of technological and organizational innovation with firm performance: Opening the black box of dynamic complementarities. Technological Forecasting and Social Change, 206, 123516.
Love, J.; Roper, S.; Vahter, P. (2023). The dynamics of abandoned innovation activities: Learning from failure or learning to prevent failure? Research Policy, 52 (8), 1−17.
Anneli Kaasa
Professor of Social and Cultural Studies in EconomicsPhD in Economics (University of Tartu, 2004)
Research interests: cultural differences, social capital, innovations, welfare
Teaching: Mathematics for Economics, Microeconomics
Selected publications:
Minkov, M., Vignoles, V. L., Welzel, C., Akaliyski, P., Bond, M. H., Kaasa, A., & Smith, P. B. (2024). Comparative culturology and cross-cultural psychology: How comparing societal cultures differs from comparing individuals’ minds across cultures. Journal of Cross-Cultural Psychology, 55(2), 164-188.
Kaasa, A., & Andriani, L. (2022). Determinants of institutional trust: the role of cultural context. Journal of Institutional Economics, 18(1), 45-65.
Research interests: cultural differences, social capital, innovations, welfare
Teaching: Mathematics for Economics, Microeconomics
Selected publications:
Minkov, M., Vignoles, V. L., Welzel, C., Akaliyski, P., Bond, M. H., Kaasa, A., & Smith, P. B. (2024). Comparative culturology and cross-cultural psychology: How comparing societal cultures differs from comparing individuals’ minds across cultures. Journal of Cross-Cultural Psychology, 55(2), 164-188.
Kaasa, A., & Andriani, L. (2022). Determinants of institutional trust: the role of cultural context. Journal of Institutional Economics, 18(1), 45-65.
Eve Parts
Associate Professor of Economics
PhD in Economics (University of Tartu, 2009)
Research interests: social aspects of economic development, social capital, sustainability, degrowth, population aging
Teaching: economic principles, macroeconomics, development economics, game theory
Selected publications
Kallas, Elina; Parts, Eve (2021). From entrepreneurial intention to enterprise creation: the case of Estonia. Journal of Entrepreneurship in Emerging Economies, 13 (5), 1192−1214. DOI: 10.1108/JEEE-07-2020-0235.
PhD in Economics (University of Tartu, 2009)
Research interests: social aspects of economic development, social capital, sustainability, degrowth, population aging
Teaching: economic principles, macroeconomics, development economics, game theory
Selected publications
Kallas, Elina; Parts, Eve (2021). From entrepreneurial intention to enterprise creation: the case of Estonia. Journal of Entrepreneurship in Emerging Economies, 13 (5), 1192−1214. DOI: 10.1108/JEEE-07-2020-0235.
Kadri Ukrainski
Professor of Research and Innovation Policy
PhD in Economics (University of Tartu, 2008)
Research interests: innovation policy, science policy, research funding
Teaching: public sector economics, innovation policy
Selected publications
Ukrainski, K., Kanep, H., Kirs, M., & Karo, E. (2018). Internationalisation of firms' research and development activities: the experience from European Union framework programs. International Journal of Export Marketing, 2(4), 291-315.
Ukrainski, K.; Kanep, H.; Kirs, M.; Karo, E. (2018). Segregation of EU13 Countries in EU Framework Programmes Illuminates Important Challenges for Cohesion Policy. CESifo Forum, 18 (1), 16−23.
PhD in Economics (University of Tartu, 2008)
Research interests: innovation policy, science policy, research funding
Teaching: public sector economics, innovation policy
Selected publications
Ukrainski, K., Kanep, H., Kirs, M., & Karo, E. (2018). Internationalisation of firms' research and development activities: the experience from European Union framework programs. International Journal of Export Marketing, 2(4), 291-315.
Ukrainski, K.; Kanep, H.; Kirs, M.; Karo, E. (2018). Segregation of EU13 Countries in EU Framework Programmes Illuminates Important Challenges for Cohesion Policy. CESifo Forum, 18 (1), 16−23.
Andres Võrk
Junior Lecturer of Econometrics
Analyst, Center of IT Impact Studies (CITIS)
MA in Economics (University of Tartu, 2000)
Research interests: evaluation of social and labour policy programmes, distributional effects of tax-benefit systems
Teaching: microeconometrics, evaluation of economic policies
Selected publications:
Elvatun, S., Knoors, D., Nygård, M., Uusküla, A., Võrk, A., & Nygård, J. F. (2024). Cross-population evaluation of cervical cancer risk prediction algorithms. International Journal of Medical Informatics, 181, 105297.
Analyst, Center of IT Impact Studies (CITIS)
MA in Economics (University of Tartu, 2000)
Research interests: evaluation of social and labour policy programmes, distributional effects of tax-benefit systems
Teaching: microeconometrics, evaluation of economic policies
Selected publications:
Elvatun, S., Knoors, D., Nygård, M., Uusküla, A., Võrk, A., & Nygård, J. F. (2024). Cross-population evaluation of cervical cancer risk prediction algorithms. International Journal of Medical Informatics, 181, 105297.
Lenno Uusküla
Associate professor in macroeconomics
Chief Economist, Luminor Estonia
PhD (European University Institute, 2011)
Research interests: theoretical and applied macroeconomics, monetary economics, international macroeconomics, firm creation and destruction, time-series econometrics, news
Teaching: Selected Topics in Macroeconomics
Selected publications
Jacob, P.; Uusküla, L. (2019) “Deep Habits and the Exchange Rate Pass-through”, Journal of Economic Dynamics and Control, vol. 105, pp. 67-89.
Uusküla, L. (2016), “Monetary Transmission Mechanism with Firm Turnover”, Journal of Macroeconomics, Vol. 50, December 2016, vol. 50, pp. 1–18.
Errit, G.; Uusküla, L. (2015), “Euro area monetary policy transmission in Estonia”, Baltic Journal of Economics, Vol. 14, Issue 1-2, pp. 55−77.
Chief Economist, Luminor Estonia
PhD (European University Institute, 2011)
Research interests: theoretical and applied macroeconomics, monetary economics, international macroeconomics, firm creation and destruction, time-series econometrics, news
Teaching: Selected Topics in Macroeconomics
Selected publications
Jacob, P.; Uusküla, L. (2019) “Deep Habits and the Exchange Rate Pass-through”, Journal of Economic Dynamics and Control, vol. 105, pp. 67-89.
Uusküla, L. (2016), “Monetary Transmission Mechanism with Firm Turnover”, Journal of Macroeconomics, Vol. 50, December 2016, vol. 50, pp. 1–18.
Errit, G.; Uusküla, L. (2015), “Euro area monetary policy transmission in Estonia”, Baltic Journal of Economics, Vol. 14, Issue 1-2, pp. 55−77.
Peeter Luikmel
Head of the subdivision of monetary policy and foreign economy, Research Division, Bank of Estonia
MA (Tallinn University of Technology, 2005)
Teaching: Monetary Economics
MA (Tallinn University of Technology, 2005)
Teaching: Monetary Economics
Indrek Seppo
AI programme manager, Ministry of Economic Affairs and Communications of Estonia
Senior Analyst, Estonian Centre for Applied Research CENTAR
Economics PhD student (University of Tartu, since 2006)
Research interests: economics of education, infrastructure investments, psychometric measurement
Teaching: Introduction to R software
Contact: indrek.seppo@ut.ee
Selected publications
Kuuskmäe, C., Philips, M. A., Kilk, K., Haring, L., Kangro, R., Seppo, I., Zilmer,. M. & Vasar, E. (2023). Kynurenine pathway dynamics in patients with schizophrenia spectrum disorders across the disease trajectory. Psychiatry Research, 328, 115423.
Senior Analyst, Estonian Centre for Applied Research CENTAR
Economics PhD student (University of Tartu, since 2006)
Research interests: economics of education, infrastructure investments, psychometric measurement
Teaching: Introduction to R software
Contact: indrek.seppo@ut.ee
Selected publications
Kuuskmäe, C., Philips, M. A., Kilk, K., Haring, L., Kangro, R., Seppo, I., Zilmer,. M. & Vasar, E. (2023). Kynurenine pathway dynamics in patients with schizophrenia spectrum disorders across the disease trajectory. Psychiatry Research, 328, 115423.
Maryna Tverdostup
Lecturer in Economic Modelling (0.5), University of Tartu
Economist (1.0), Vienna Institute for International Economic Studies (wiiw)
PhD in Economics (University of Tartu, 2018)
Research interests: labour economics, behavioral economics, applied microeconometrics
Teaching: Simulation Methods in Financial Mathematics, Intriductory Econometrics, Decision and Choice Theory
Selected publications:
Meriküll, J., & Tverdostup, M. (2023). The gap that survived the transition: The gender wage gap in Estonia over three decades. Economic Systems, 47(3), 101127.
Economist (1.0), Vienna Institute for International Economic Studies (wiiw)
PhD in Economics (University of Tartu, 2018)
Research interests: labour economics, behavioral economics, applied microeconometrics
Teaching: Simulation Methods in Financial Mathematics, Intriductory Econometrics, Decision and Choice Theory
Selected publications:
Meriküll, J., & Tverdostup, M. (2023). The gap that survived the transition: The gender wage gap in Estonia over three decades. Economic Systems, 47(3), 101127.
Jaanika Meriküll
Associate Professor in Economic Modelling
Senior Economist, Research Division, Bank of Estonia
PhD (University of Tartu, 2014)
Research interests: labour economics, household finance, microdata analysis
Teaching: Multivariate Statistical Analysis, Master’s seminars
Selected publications:
Meriküll, J., & Paulus, A. (2024). Were jobs saved at the cost of productivity in the COVID-19 crisis?. European Economic Review, 161, 104618.
Kukk, M., Meriküll, J., & Rõõm, T. (2023). The Gender Wealth Gap in Europe: Application of Machine Learning to Predict Individual‐level Wealth. Review of Income and Wealth, 69(2), 289-317.
Senior Economist, Research Division, Bank of Estonia
PhD (University of Tartu, 2014)
Research interests: labour economics, household finance, microdata analysis
Teaching: Multivariate Statistical Analysis, Master’s seminars
Selected publications:
Meriküll, J., & Paulus, A. (2024). Were jobs saved at the cost of productivity in the COVID-19 crisis?. European Economic Review, 161, 104618.
Kukk, M., Meriküll, J., & Rõõm, T. (2023). The Gender Wealth Gap in Europe: Application of Machine Learning to Predict Individual‐level Wealth. Review of Income and Wealth, 69(2), 289-317.
Raul Omel
Junior Lecturer in Economic Theory
Research interests: agricultural economics
Teaching: Microeconomics
Selected publications
Fertő, I., Bakucs, L. Z., Viira, A. H., Aleksandrova, O., Luik-Lindsaar, H., & Omel, R. (2024). Are Organic Farms Less Efficient? The Case of Estonian Dairy Farms. Agris on-line Papers in Economics and Informatics, 16(1), 23-34.
Nurmet, M.; Omel, R. (2020). Economic Viability by farm size of Estonian family farms.. Problems of Agricultural Economics, 362 (1), 14−28. DOI: 10.30858/zer/118265.
Omel, R., & Värnik, R. (2009). The competitiveness of Estonian milk production: An opportunity cost approach. Food Economics–Acta Agricult Scand C, 6(3-4), 197-203.
Research interests: agricultural economics
Teaching: Microeconomics
Selected publications
Fertő, I., Bakucs, L. Z., Viira, A. H., Aleksandrova, O., Luik-Lindsaar, H., & Omel, R. (2024). Are Organic Farms Less Efficient? The Case of Estonian Dairy Farms. Agris on-line Papers in Economics and Informatics, 16(1), 23-34.
Nurmet, M.; Omel, R. (2020). Economic Viability by farm size of Estonian family farms.. Problems of Agricultural Economics, 362 (1), 14−28. DOI: 10.30858/zer/118265.
Omel, R., & Värnik, R. (2009). The competitiveness of Estonian milk production: An opportunity cost approach. Food Economics–Acta Agricult Scand C, 6(3-4), 197-203.
Luca Alfieri
Visiting Lecturer, PhD student
MA in Macroeconomics and European Policies (University of Strasbourg, 2011)
MA in Economics (University of Parma, 2009)
Research interests: big data analysis, machine learning, international macroeconomics, monetary economics, international trade
Teaching: Macroeconomics
Selected publications:
Alfieri, L. (2020) “Heterogeneity of Financial Institutions in the Process of Economic and Monetary Integration in East Asia”. The World Economy, forthcoming.
MA in Macroeconomics and European Policies (University of Strasbourg, 2011)
MA in Economics (University of Parma, 2009)
Research interests: big data analysis, machine learning, international macroeconomics, monetary economics, international trade
Teaching: Macroeconomics
Selected publications:
Alfieri, L. (2020) “Heterogeneity of Financial Institutions in the Process of Economic and Monetary Integration in East Asia”. The World Economy, forthcoming.
Mini-courses by professors from abroad
Every year there are ca 1-2 mini-courses given by professors from abroad. The list of past ones includes the following.
Spring 2024: Annela Anger-Kraavi (Cambridge University), “Climate change economics”
Spring 2022: Maryna Tverdostup (University of Tartu, The Vienna Institute for International Economic Studies (WIIW)), “Behavioural and experimental economics”
Spring 2019: Marco van der Leij (University of Amsterdam), “Networks in Economics and Finance”
Spring 2019: Matti Sarvimäki (Aalto University), “History of Economic Growth and Crises”.
Spring 2017: Julien Xavier Daubanes (University of Copenhagen), “Natural resources economics”
Spring 2017: Hakan Eratalay (European University at Saint Petersburg), “Introduction to Matlab”
Spring 2017: Hakan Eratalay (European University at Saint Petersburg), “Financial Econometrics”
Spring 2016: Terzyan Harut (Yerevan State University), „Time Series Econometrics“
Fall 2016: Zsuzsa Munkacsi (Bank of Lithuania), „DSGE modelling for policy analysis, including OLG models“
Spring 2015: Roger Bivand (Norwegian School of Economics NHH), „Spatial econometrics“
Spring 2015: Julia Korosteleva (University College London), „Introduction to multilevel modelling“