In 2005, Konstantīns Beņkovskis got a PhD in Economics from the University of Latvia, presenting his thesis The Analysis and Forecasting of Latvia's Balance of Payments Using Econometric Methods. He started his career at Latvijas Banka in 2000 as an economist of the Monetary Policy Department, later being promoted to the positions of a senior econometrist and chief econometrist. He has also acquired international work experience – in 2006 and 2007, Konstantīns Beņkovskis worked as an NCB expert at the Directorate General Economics of the European Central Bank.
He combines his office duties at Latvijas Banka with delivering a course of lectures Models of Monetary Economics to the second year MA students at the University of Latvia.
The range of Konstantīns Beņkovskis' research interests is vast. The working paper on inflation expectations in Latvia, their formation and impact on actual inflation promoted deep public interest. One of his latest working papers is devoted to the evaluation of the quality of exports from the new EU Member States. Moreover, Konstantīns Beņkovskis is one of the authors of Latvia's macroeconomic model and also models of short-term forecasting.