Working Papers of Eesti Pank 2/2017 This paper investigates the mutual dependence between housing prices and housing credit in Estonia, a country which experienced rapid debt accumulation during the 2000s and big swings in house prices during that period. We use Bayesian econometric methods... more

From 6 March until 30 June, Eesti Pank and Statistics Estonia will be carrying out research in order to collect information on the assets, liabilities, income and expenses of Estonian households. The survey is being run by the central banks of all the euro area countries in 2017 and is... more


Economists and people interested in economics are kindly invited to attend the open seminars of Eesti Pank. The goal of the open seminars is to promote exchange of ideas between the central bank, the academic community and economic policy institutions.

The program of open seminars was... more


The Estonian Household Finance and Consumption Survey (HFCS) collects data on the assets, liabilities, income and spending of households and is is carried out jointly by Eesti Pank and Statistics Estonia.

Survey participants

Similar surveys are run by the central banks of all the... more

Working Papers of Eesti Pank 1/2017 1/2017 Ragnar Nurkse and the international financial architecture. Ragnar Nurkse Memorial Lecture 2017 World-renowned economist, Professor of Economics at the University of California, and the author of several books on international economy and the monetary... more
Working Papers of Eesti Pank 11/2016 The effect of financial shocks on the cross-market linkages between oil prices, both spot and future, and stock markets is examined for four crises: the Mexican crisis of 1994, the Asian crisis of 1997, the dot.com bubble of 2000 and the global... more
Occasional Paper Series 2/2016 Pierre Lafourcade, Andrea Gerali, Jan Brůha, Dirk Bursian, Ginters Buss, Vesna Corbo, Markus Haavio, Christina Håkanson, Tibor Hledik, Dmitry Kulikov, Matija Lozej, Brian Micallef, Dimitris Papageorgiou, Juuso Vanhala and Marin Zeleznik. Labour market... more

Barry Eichengreen, Professor of Economics at the University of California, will give a public lecture on “Ragnar Nurkse and the International Financial Architecture” on 12 January at 14.00 in the Independence Hall of Eesti Pank. This lecture is dedicated to the economist Ragnar Nurkse.

... more

This paper assesses the importance of capital flows as measured by the current account balance for the growth dynamics of the EU countries from Central and Eastern Europe. Economic growth in these countries was on average relatively high before the global financial crisis but markedly lower after... more
Open seminars of Eesti Pank in 2016 Date and
time              Lecturer (institution) and topic                                                                                                                         Previous seminars 24 November
  Tarvo Vaarmets... more
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