25 Years IWH

Martina Kämpfe

Martina Kämpfe
Current Position

since 1/92

Economist in the Department of Macroeconomics

Halle Institute for Economic Research (IWH) – Member of the Leibniz Association

Research Interests

  • analyzing current economic situation and forecasting economic developments in the Central and Eastern European countries
  • adjustment processes in the Central and Eastern European candidate countries in preparation for EU accession
  • reforms of the EU policies (in particular structural funds policy) and the effects on the EU enlargement towards the East

Martina Kämpfe works in the Department of Macroeconomics, analysing business cycle and economic transition of the new EU member states and Russia. Since 2014, German foreign trade is another field of her research.

Martina Kämpfe studied eastern European languages and literature (Russian and Polish studies) at the Humboldt University in Berlin, as well as economics at the Higher School of Economics in Berlin. She then worked as a translator and documentalist. At IWH, she was a member of the Department of Middle and Eastern Europe from 1992 to 2005.

Your contact

Martina Kämpfe
Martina Kämpfe
Mitglied - Department Macroeconomics
Send Message +49 345 7753-838



The New EU Countries and Euro Adoption

Hubert Gabrisch Martina Kämpfe

in: Intereconomics , No. 3, 2013


In the new member states of the EU which have not yet adopted the euro, previous adoption strategies have come under scrutiny. The spillovers and contagion from the global financial crisis revealed a new threat to the countries’ real convergence goal, namely considerable vulnerability to the transmission of financial instability to the real economy. This paper demonstrates the existence of extreme risks for real convergence and argues in favour of a new adoption strategy which does not announce a target date for the currency changeover and which allows for more flexible and countercyclical monetary, fiscal and wage policies.

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Working Papers


The Appropriateness of the Macroeconomic Imbalance Procedure for Central and Eastern European Countries

Martina Kämpfe Tobias Knedlik

in: IWH Discussion Papers , No. 16, 2017


The experience of Central and Eastern European countries (CEEC) during the global financial crisis and in the resulting European debt crises has been largely different from that of other European countries. This paper looks at the specifics of the CEEC in recent history and focuses in particular on the appropriateness of the Macroeconomic Imbalances Procedure for this group of countries. In doing so, the macroeconomic situation in the CEEC is highlighted and macroeconomic problems faced by these countries are extracted. The findings are compared to the results of the Macroeconomic Imbalances Procedure of the European Commission. It is shown that while the Macroeconomic Imbalances Procedure correctly identifies some of the problems, it understates or overstates other problems. This is due to the specific construction of the broadened surveillance procedure, which largely disregarded the specifics of catching-up economies.

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