Eesti Pank research award

In 2025, the Eesti Pank research award in the doctoral category has been given to Ludmila Fadejeva for her thesis Essays on International Transmission of Economic Policy Shocks, which analysed the international transmission of economic policy shocks and the heterogeneous impact of monetary policy shocks, looking primarily at Central and Eastern European countries. The award in the Master’s category was shared between two research works. One was by Elina Bõkovskaja on how support from KredEx for reconstruction improved the energy efficiency of apartment buildings, and the other was by Merilin Martinson on how platform work affects employment among immigrants.

Ludmila Fadejeva and Elina Bõkovskaja defended their theses at Tallinn Technical University in 2025, and Merilin Martinson defended hers in 2024 at Humboldt University of Berlin.

The award for the doctoral work is 3000 euros and that for the Master’s work is 2000 euros. The prize in the Master’s category in 2025 was divided equally between the two winners.

Urmas Sepp (1956–2002) was the head of the Eesti Pank macroeconomics department and later the economic research department in 1993–2002.