Team

Dr. Stephen Sacht

Postdoc/Habilitand

Raum 308
Telefon: +(49) 431 880-1448
Telefax: +(49) 431 880-2228
sacht@economics.uni-kiel.de

Profil


Sprechstunde / Visiting Hours: nach Vereinbarung / by appointment

Activities & Education

Postdoc (postdoctoral lecture qualifications) Kiel University                 
Former Deputy Director of the Institute for Regional Research &
Former Deputy Chair of International and Regional Economics
Kiel University  
Dr. sc. pol. (Ph.D. in Economics) Kiel University
Former Member of the Research Area 
"Macroeconomic Policy under Market Imperfections"
Kiel Institute for the World Economy 
Graduate of the "Advanced Studies Program in
International Economic Policy Research"
Kiel Institute for the World Economy
Diploma Degree in Economics Kiel University
Undergraduate and Graduate Studies in Economics
(Focus on Economic Theory and Econometrics)
Kiel University
Jönköping University (Sweden)

Doctoral Thesis

  • High-Frequency Analysis and Moment-Matching Estimation of the Baseline New-Keynesian Model, Kiel University (International Doctoral Programme "Quantitative Economics"), February 2014. Advisors: Hans-Werner Wohltmann and Maik Wolters. Overall Grade: Summa Cum Laude  PDF
  • Awarded with the Science Prize 2015 of Deutsche Bundesbank
  • Awarded with the Erich-Schneider-Prize 2015 of Department of Economics at Kiel University

Research Publications

  • Animal Spirits and the Business Cycle: Empirical Evidence from Moment Matching (with T.-S. Jang), Metroeconomica, Vol. 67(1), pp. 76-113, February 2016.
    • Economics Working Paper 2014-06, Department of Economics, Kiel University, May 2014 (PDF)
  • On the Efficiency of Labor Market Reforms: How to Solve the Spanish Puzzle?, Economics: The Open-Access, Open-Assessment E-Journal, Vol. 9 (2015-44), pp. 1-29, December 2015.
  • Moment Matching versus Bayesian Estimation: Backward-Looking Behaviour in the New-Keynesian Baseline Model (with R. Franke and T.-S. Jang), The North American Journal of Economics and Finance, Vol. 31, pp. 126-154, January 2015.   
    • Economics Working Paper 2012-08, Department of Economics, Kiel University, September 2012 (PDF)
    • Extended Version / Technical Appendix of  Economics Working Paper 2012-08, August 2012 (PDF)
  • Estimating a High-Frequency New-Keynesian Phillips Curve (with S. Ahrens), Empirical Economics , Vol. 46(2), pp. 607-628, March 2014. 
    • Kiel Working Paper 1686, Kiel Institute for the World Economy, March 2012 (PDF)
    • Economics Working Paper 2011-08, Department of Economics, Kiel University, September 2011 (PDF)
  • Some Observations in the High-Frequency Versions of a Standard New-Keynesian Model (with R. Franke), Bulletin of Economic Research, Vol. 66(1), pp. 72-94, January 2014.

Policy Papers

  • Entrepreneurship, Youth Unemployment and Macroeconomic Policy: Lessons from Korea and Spain (with T.-S. Jang), Koreanische Zeitschrift fuer Wirtschaftswissenschaften, Vol. 33(2), pp. 1-22, June 2015. (PDF).

Working Papers

  • Modeling Consumer Confidence and its Role for Expectation Formation: A Horse Race
    • Economics Working Paper 2017-04, Department of Economics, Kiel University, April 2017 (PDF)
  • Analysis of Various Shocks within the High-Frequency Versions of the Baseline New-Keynesian Model
    • Economics Working Paper 2014-02, Department of Economics, Kiel University, February 2014 (PDF)
  • Optimal Monetary Policy Responses and Welfare Analysis within the High-Frequency New-Keynesian Framework
    • Economics Working Paper 2014-03, Department of Economics, Kiel University, February 2014 (PDF)
  • Identification of Prior Information via Moment-Matching
    •  Economics Working Paper 2014-04, Department of Economics, Kiel University, February 2014 (PDF)
  • Identification of Animal Spirits in a Bounded Rationality Model: An Application to the Euro Area (with T.-S. Jang)
    • Kiel Working Paper 1798, Kiel Institute for the World Economy, October 2012 (PDF)
    • Economics Working Paper 2012-12, Department of Economics, Kiel University, October 2012 (PDF)

Grants and Awards

  • Laureate of the Science Award 2015 of Deutsche Bundesbank for an Outstanding Doctoral Thesis 
  • Laureate of the Erich-Schneider Prize 2015 for an Outstanding Doctoral Thesis
  • Laureate of the Graduate Student Best Paper Award 2012 of the Society of Computational Economics
  • Travel Grant by the U.S. National Science Foundation 2011
    (Presentation at the Stevens Institute of Technology (Hoboken/New Jersey))
  • Möller Fund Travel Grant 2010, 2011 and 2012

Current Teaching

  • Lecture on Fiscal Policy and Macroeconomic Dynamics (Master&PhD) 
  • Tutorial on Fiscal Policy and Macroeconomic Dynamics (Master&PhD) 
  • Tutorial on Macroeoconomic Dynamics and Optimal Monetary Policy (Master&PhD)  
  • Seminar on Financial Economics (Master&PhD)  

Public Relations

  • Interview with the German radio station NDR 1 - Welle Nord on the topic 'Abolition of Euro Coins' MP3 (German)

Conferences and Workshops

  • Invited Speaker at the 2016 International Conference on 'Sustainable Growth under Uncertainty: Challenges in Global Recessions',  Kyungpook National University, Daegu (South Korea), 29.-30. September 2016
  • Presentation at the 1st Workshop on (Youth) Unemployment in Europe, Viadrina European University (Germany), 16.-17. April 2015
  • Presentation at the Christmas Meetings of the German Economists Abroad, Kiel Institute for the World Economy, 21.-22. December 2014
  • Presentation at the Annual Meeting of the German Economic Association (Verein für Socialpolitik), Helmut Schmidt University / University of the Federal Armed Forces Hamburg (Germany), 7.-10. September 2014
  • Presentation at the Annual Meeting of the German Economic Association (Verein für Socialpolitik), University of Düsseldorf (Germany), 4.-7. September 2013 (Chairman of the self-organized conference session on 'Moment-Matching: Applications of an Alternative Estimation Approach in Macroeconomics')    
  • Presentation at the SCE 19th International Conference on Computing in Economics and Finance, Vancouver (Canada), 10.-12. July 2013
  • Presentation at the Conference 'The State of Economics after the Crisis', Macroeconomic Policy Insitute (IMK) at the Hans-Boeckler-Foundation, Research Network Macroeconomics and Macroeconomic Policies (FMM), Berlin, 25.-27. October 2012
  • Presentation at the Annual Meeting of the German Economic Association (Verein für Socialpolitik), University of Göttingen (Germany), 9.-12. September 2012 
  • Presentation at the SCE 18th International Conference on Computing in Economics and Finance, Prague (Czech Republic), 27.-29. June 2012
  • Presentation at the 17th Spring Meeting of Young Economists (SMYE), ZEW Mannheim, 26.-28. April 2012 
    (Chairman of the conference session on 'Business Cycles III')
  • Presentation at the Macroeconometric Workshop, DIW Berlin, 2.-3. December 2011
  • Presentation at the Conference: Modeling High Frequency Data in Finance III, Stevens Institute of Technology (Hoboken/New Jersey/USA), 28.-31. July 2011
  • Presentation at the Annual Meeting of the Swiss Society of Economics and Statistics (SSES), University of Lucerne (Switzerland), 9.-10. June 2011 (Chairman of the conference session on 'Macroeconomics I')
  • Presentation at the Annual Meeting of the German Economic Association (Verein für Socialpolitik), University of Kiel (Germany), 7.-10. September 2010 
  • Presentation at the 25th Annual Congress of the European Economic Association (EEA), University of Glasgow (UK), 23.-26. August 2010 (Chairman of the conference session on 'Preferences and Decision Making')
  • Presentation at the SCE 16th International Conference on Computing in Economics and Finance, City University London (UK), 15.-18. July 2010
  • Presentation at the Annual Meeting of the Swiss Society of Economics and Statistics (SSES), University of Fribourg (Switzerland), 24.-25. June 2010 (Chairman of the conference session on 'Monetary Macroeconomics II')
  • Participation at the 2. 'Global Economic Symposium', Plön, 9.-11. September 2009
  • Participation at the Workshop 'Dynare Summer School', Bank of France/CEPREMAP (Paris), 22.-26. June 2009
  • Participation at the EES Kick-off Workshop 'The Labor Market and the Business Cycle', IfW Kiel, 5.-7. March 2009
  • Participation at the 3. Workshop 'Konjunktur und Makroökonomik', ifo Dresden, 20.-21. November 2008
  • Participation at the 1. 'Global Economic Symposium', Plön, 4.-5. September 2008 

Reviewer Activity

Memberships

Past Teaching

  • Lecture on Fiscal Policy and Macroeconomic Dynamics (Master&PhD; WS 15/16)
  • Lecture on Economic Growth (Master&PhD; WS 15/16)
  • Tutorial on Introduction to Economics (EVWL; WS 16/17)
  • Tutorial on Introduction to Macroeconomic Theory
    (Grundzüge der makroökonomischen Theorie; WS 08/09-09/10+WS 14/15)
  • Tutorial on Intermediate Macroeconomics (Neue Makroökonomik; SS 09-16)
  • Tutorial on Open Economy Macroeconomics (Stabilisierungspolitik; WS 11/12-15/16)
  • Tutorial on Advanced Macroeconomics (Master&PhD; SS 09+WS 16/17)
  • Seminar on Money and Credit (Geld- und Kredittheorie; WS 08/09)
  • Seminar on Open Economy Macroeconomics (Stabilisierungspolitik; SS 09- 15)
  • Seminar on Macroeconomics (Makroökonomisches Seminar; WS 09/10-16/17)
  • Seminar on Macroeconomic Dynamics and Optimal Monetary Policy (Master Level; WS 11/12-WS14/15)

Supplements to the Doctoral Thesis (m-files)