Karsten Kohler

Karsten Kohler is Associate Professor in Economics at the University of Leeds, UK. Previously, he worked as a Lecturer in International Political Economy at King’s College London (2019 - 2021), after he obtained his PhD on the role of flexible exchange rates in emerging market business cycles in 2019. His research crosses disciplinary boundaries and draws on macroeconomics, political economy, and finance. He is interested in the interaction between finance and the real economy; especially sources of cyclical dynamics, instability, and rising inequality and has done research on business and financial cycles; the role of exchange rates in emerging market business cycles; financialisation & income distribution, as well as growth models in advanced countries. 

He co-created the open-source website DIY Macroeconomic Model Simulation.

Recent Publications


House price cycles, housing systems, and growth models (with Ben Tippet and Engelbert Stockhammer). European Journal of Economics and Economic Policies: Intervention, 20(3), 461-490.

Energy price shocks, conflict inflation, and income distribution in a three-sector model (with Rafael Wildauer, Adam Aboobaker, and Alex Guschanski). Energy Economics, 127B, 106982. LSE Business Review Blog

Global financial uncertainty shocks and external monetary vulnerability: The role of dominance, exposure, and history (with Bruno Bonizzi and Annina Kaltenbrunner). Journal of International Financial Markets, Institutions and Money, 88, 101818.

Capital Flows and the Eurozone’s North-South DividePolitics & Society, advance access.


Capital flows and geographically uneven economic dynamics: A monetary perspectiveEnvironment and Planning A: Economy and Space, 54(8), 1510-1531. Winner of 2023 EAEPE Kapp Prize.

Flexible exchange rates in emerging markets: shock absorbers or drivers of endogenous cycles? (with Engelbert Stockhammer). Industrial and Corporate Change, 32(2), 551–572.

Estimating Nonlinear Business Cycle Mechanisms with Linear Vector Autoregressions: A Monte Carlo Study (with Robert Calvert Jump). Oxford Bulletin of Economics and Statistics, 84(5), 1077-1100. 

Learning from distant cousins? Post-Keynesian Economics, Comparative Political Economy, and the Growth Models approach (with Engelbert Stockhammer). Review of Keynesian Economics, 10(2), 184-203. 

A history of aggregate demand and supply shocks for the United Kingdom, 1900 to 2016 (with Robert Calvert Jump). Explorations in Economic History, 85, 101448. 

Growing differently? Financial cycles, austerity, and competitiveness in growth models since the Global Financial Crisis (with Engelbert Stockhammer). Review of International Political Economy, 29(4), 1314-1341.


E: K.Kohler(at)leeds.ac.uk