The objective of economic research at Eesti Pank is to provide a strong conceptual and empirical foundation for making sound monetary policy and financial stability decisions. Research contributes to the economic forecasts and financial stability assessment of Eesti Pank by developing economic models. The research results are also used as an input for the economic policy discussions in Estonia and the European System of Central Banks. Research seeks to meet high academic standards and to be of practical policy relevance. In addition to publications in refereed international academic journals, active participation in scientific meetings and close cooperation with the academic research community are integral parts of the research objectives.
Research is conducted on the basis of a three-year strategic research plan, which establishes the framework for the main annual research projects. The main research areas are:
- the development of the central bank’s system of macroeconomic and banking models,
- monetary policy,
- financial sector research, and
- real economy.
Research produced by bank´s economists is published in the Working Papers Series of Eesti Pank.
- Economists in the Research DivisionThere are seven economists working in the Research Division, led by Tairi Rõõm.
- Fields of researchThe research work of the central bank has four focuses: improvement of the macroeconomic and banking models; monetary policy research; research into the financial sector; and research into the real economy. Research results are published in the Working Paper series of Eesti Pank.
- Visiting researchersThe Research Division welcomes economists with an academic or central banking background to work in Eesti Pank as guest researchers.
- Household assets and liabilities surveyThe survey collects data on the assets, liabilities, income and consumption of households.
- LibraryEesti Pank library contains more than 7,000 documents on economics and finance, mostly in English. Library online catalogue is a part of ESTER , the shared catalogue of 16 major Estonian libraries.
- Research and educationThe central bank supports research in Estonia and abroad in several ways, with a programme of guest researchers and internships, organisation of joint conferences, membership of the Estonian Economic Association, and work with the doctoral schools of the University of Tartu and Tallinn University of Technology.
- Occasional PapersThe Eesti Pank Occasional Papers is a new series of papers where the bank will publish reviews of its analysis and research work.
- Working PapersThe Working Papers are summaries of the research conducted by Eesti Pank. The target group of the Working Papers includes, above all, economists and economic experts, and the papers are published often only in English.
- Eesti Pank research awardThe Eesti Pank research awards are intended to recognise young Estonian researchers in academic economics. The awards are granted in two categories, one for doctoral work and one for master’s level work.
- Open seminarsThe research results of the bank are presented in public seminars. These seminars support the exchange of ideas between the central bank and academic circles and economic policy institutions.