Open seminars of Eesti Pank in 2017

Date and
Lecturer (institution) and topic   
  Previous seminars
31 October
Sang-Wook (Stanley) Cho (University of New South Wales in Australia/Bank of Estonia)
Skill premium divergence: the roles of trade, capital and demographics
12 October
Michael Pedersen (Banco Central de Chile)
Credit risk and monetary pass-through. Evidence from Chile
10 October Christopher A. Hartwell (CASE - Center for Social and Economic Research)

Do Poor Institutions Create More Losers from Globalization?

21 September Timo Teräsvirta (Aarhus University)
The Shifting Seasonal Mean Autoregressive Model and Seasonality in the Central England Monthly Temperature Series, 1772—2016
15 August Utpal Bhattacharya (Hong Kong University of Science and Technology)
Spillovers in Asset Prices: The Curious Case of Haunted Houses
21 July
Előd Takáts (Bank for International Settlements)
Exchange rate pass-through: What has changed since the crisis?
19 June Bank of Estonia´s research seminar 2017

10.00–10.45 Tairi Rõõm (Bank of Estonia), “The financial fragility of Estonian households: Evidence from stress tests on the HFCS microdata” (authors: Jaanika Meriküll and Tairi Rõõm)
10.45–11.00 Coffee break
11.00–11.45 Juan Carlos Cuestas (Bank of Estonia), “Asymmetries in the interaction between housing prices and housing credit in Estonia” (authors: Juan Carlos Cuestas and Merike Kukk)
11.45–12.00 Coffee break
12.00–12.45 Yannick Lucotte (Visiting researcher, Bank of Estonia), “Banking sector concentration, competition and financial stability: The case of the Baltic states” (authors: Juan Carlos Cuestas, Yannick Lucotte and Nicolas Reigl)

14 June Amaresh Kumar Tiwari (University of Tartu)
Panel data binary response model in a triangular system with unobserved heterogeneity
1 June Olympia Bover (Banco de España)
Some results on household subjective probabilities of future house prices
27 April Karl Taylor (University of Sheffield)
Savings, expectations and financial hardship
30 March Mariarosaria Comunale (Bank of Lithuania)
Current account and REER misalignments in Central Eastern EU countries: an update using the macroeconomic balance approach
16 February Anna Pestova (NRU HSE and CMASE, Russia/Center for Macroeconomic Analysis and Short-Term Forecasting)
On the economic effect of Western sanctions on Russia
13 February Tuomas Malinen (University of Helsinki)
To default or not: The aftermath of sovereign defaults and IMF austerity programs during economic crises
10 February Paul Hubert (OFCE - Sciences Po)
Does Monetary Policy generate Asset Price Bubbles? (co-authored with Christophe Blot and Fabien Labondance)
12 January Prof Barry Eichengreen (University of California)
Ragnar Nurkse and the International Financial Architecture
(2017 Professor Ragnar Nurkse Memorial Lecture)

Open seminars of Eesti Pank in 2016

Date and
Lecturer (institution) and topic                                                                                                                      
  Previous seminars
24 November
Tarvo Vaarmets, Kristjan Liivamägi and Tõnn Talpsepp (Tallinn University of Technology)
How Does Learning and Education Help to Overcome the Disposition Effect
(The winner of the Eesti Pank research award for doctoral studies for 2016)
29 September
Petra Marotzke (Deutsche Bundesbank)
Wage adjustment and employment in Europe
20 September Karsten Staehr (Bank of Estonia/Tallinn University of Technology)
Minimum wages and the wage distribution in Estonia
18 August Michael Burda (Humboldt Universität)
The Threat of European Disintegration
2 August Yvonne Kreis (Gutenberg University Mainz)
Systemic risk in a structural model of bank default linkages
21 July Apostolos Thomadakis (University of Warwick)
Determinants of credit constrained firms: Evidence from Central and Eastern Europe region
24 May
Sarah Brown (University of Sheffield)
Portfolio Allocation, Background Risk, and Household’s Flight to Safety
18 May Konstantins Benkovskis (Bank of Latvia)
Misallocation of resources in Latvia: Did anything change during the crisis?
10 May Paolo Zagaglia (Universita di Bologna)
Communication Policy Revisited: The ECB Tone and the Term Structure
12 April Yannick Lucotte (PSB Paris School of Business)
Is there a competition-stability trade-off in European banking?
1 April José J. Cao-Alvira (Lehman College of the City University of New York)
On the Recent U.S. Banking Interventions and the Mortgages Purchased by Fannie Mae
18 March Zsolt Darvas (Bruegel)
Filling the gap: open economy considerations for more reliable potential output estimates (with András Simon)
8 March Peter Sarlin (Hanken School of Economis /RiskLab Finland)
RiskRank: Measuring Interconnected Risk
26 February Jiri Slacalek (ECB)
The Distribution of Wealth and the Marginal Propensity to Consume
(with Christopher Carroll, Kiichi Tokuoka and Matthew N. White)

Open seminars of Eesti Pank in 2015

Date and
Lecturer (institution) and topic
25 November
Punnoose Jacob (Reserve Bank of New Zealand)
A Macroprudential Stable Funding Requirement and Monetary Policy in a Small Open Economy
23 November Nicolas Veron (Bruegel)
Banking Union, Capital Markets Union, and the Current Outlook for EU Financial Reform
16 November Theodoros Panagiotidis (University of Macedonia)
Does inflation targeting matter?
01 October Jacob Kleinow (Freiberg University)
Determinants of Systemically Important Banks: The Case of Europe
28 September Manuel Buchholz (Halle Institute for Economic Research)
Caps on banks̕  leverage and domestic credit after the crisis
3 September
Julia Wörz (Oesterreichische Nationalbank)
The trade and import demand nexus: Do global value chains matter?

30 June

Peter Sarlin (Hanken School of Economis /RiskLab Finland)
Towards robust early-warning models: A horse race, ensembles and model uncertainty
15 June Josef C Brada (Arizona State University)
Open seminar presentation "Microfoundations for the Role of Corruption in Foreign Direct Investment" in the framework of the international conference "Economic Challenges in Enlarged Europe" (14-16 June 2015, Tallinn
21 May
Aleksei Netšunajev (Freie Universität Berlin)
Economic Policy Uncertainty Spillovers in the US and Euro Area
10 April Markus Haavio (Bank of Finland)
From Finnish great depression to great recession
16 February Harri Turunen (University of Cambridge)
Government spending in a volatile economy at the zero lower bound
19 February Manuel Buchholz (Halle Institute for Economic Research)
Unit labor cost adjustment in GIIPS vs. BELL countries since the crisis: the role of enhanced central bank liquidity and rescue packages

Open seminars of Eesti Pank in 2014

Date and
Lecturer (institution) and topic
27 November Kirsten Lommatzsch (Deutsche Bundesbank)
The value-added trade weighted unit labor cost indicator (TWULC) - an alternative for calculating real exchange rates?
19 November Magnus Piirits/Andres Võrk (University of Tartu)
Analysis of intergenerational effects of the pension system reforms in Estonia based on simulation (in Estonian)
4 November Prof. Ragnar Nurkse Memorial Lecture Series
Prof. Leszek Balcerowicz (Warsaw School of Economics)
Euro: problems and solutions
19 August Giancarlo Corsetti (University of Cambridge)
Liquidity and consumption, using earthquakes as natural experiments (co-authors Antonio Acconcia and Saverio Simonelli)
Mafia and Public Spending: Evidence on the Fiscal Multiplier from a Quasi-experiment (co-authors Antonio Acconcia and Saverio Simonelli)
30 June Juan Carlos Cuestas (University of Sheffield)
The Great (De)leveraging in the GIIPS countries. Foreign liabilities and private credit 1998-2013
18 June Javier Ordonez (University Jaume I)
Real unit labour costs in Eurozone countries: Drivers and clusters
17 June Stephanie Schmitt-Grohé (Columbia University)

Open seminar presentation "Downward Nominal Wage Rigidity, Currency Pegs, and Involuntary Unemployment" in the framework of the international conference "Economic Challenges in Enlarged Europe" (16-18 June, Tallinn)

3 April Aleksei Netšunajev (Freie Universität Berlin)
Inflation Expectations Spillover between the United States and Euro Area
27 February Anne Lauringson (Eesti Töötukassa)
The size of the disincentive effect of unemployment benefits during a boom-bust cycle
1 February Fabrizio Zilibotti (Institute for Empirical Research in Economics)
Open seminar presentation "War Signals: A Theory of Trade, Trust and Conflict" in the framework of the 9th Annual International Conference of the Estonian Economic Association

Open seminars of Eesti Pank in 2013

Date and
Lecturer (institution) and topic
6 December Christopher A. Hartwell (Institute for Emerging Market Studies)
Institutions, resource rents, and cleanliness: The institutional basis of efficiency in resource-rich countries
19 November Alari Paulus (University of Essex)
Tax evasion and measurement error: An econometric analysis of income survey data linked with tax records
11 October Thiago de Oliveira Souza (Bradford University)
Strategic asset allocation with heterogeneous beliefs
12 September Federica Teppa (De Nederlandsche Bank)
Presentation 1: Are retirement decisions vulnerable to framing effects? Empirical evidence from NL and the US
Presentation 2: Can the longevity risk alleviate the annuitization puzzle? Empirical evidence from Dutch data
4 September Boris Blagov (Hamburg University)
Financial Crises and Time-Varying Risk Premia in a Small Open Economy: A Markov-Switching DSGE Model for Estonia
17 June Simon Benninga (Tel Aviv University)
Open seminar presentation "Regulating Complexity" in the framework of the international conference „Economic Challenges in Enlarged Europe
6 June Liina Malk (Bank of Estonia)
Relaxation of employment protection and its effects on labour reallocation
Tairi Rõõm and Jaanika Meriküll (Bank of Estonia)
Foreign ownership and host country employment volatility
08 May Robert Vermeulen (De Nederlandsche Bank)
Net Foreign Asset (Com)position: Does Financial Development Matter?
26 March Giovanni Calice (University of Birmingham)
Liquidity Spillovers in Sovereign Bond and CDS Markets: An Analysis of The Eurozone Sovereign Debt Crisis
31 January
Karsten Staehr (Tallinn University of Technology/Bank of Estonia)
The Euro Plus Pact: Competitiveness and External Capital Flows in the EU Countries
Lenno Uusküla (Bank of Estonia)
The euro exchange rate during the European sovereign debt crisis – dancing to its own tune?
23 January Catherine Fuss (National Bank of Belgium)
Firm dynamics and employment adjustment: the role of multinationals

Open seminars of Eesti Pank in 2012

Date and time Lecturer (Institution) and topic
7 December
Joanna Tyrowicz (University of Warsaw)
Returns to higher education for immigrants to the UK from Poland and other CEE countries
16 November Seminar on labour market issues (Partners: Eesti Pank, University of Tartu, PRAXIS and CENTAR)

Jaanika Meriküll (Eesti Pank): Tööjõu mobiilsus ja majandustsükkel: Balti riikide lugu

Ott-Siim Toomet (University of Tartu): Kas haritumad migrandid pöörduvad tagasi? Eesti-Soome migratsiooni analüüs mitmemõõtmeliste haridusandmete põhjal

Andres Võrk (PRAXIS): Töötamise stiimulite analüüs Eesti toetuste- ja maksusüsteemis

Janno Järve (CENTAR): Tööturukoolituse ja palgatoetuse efektiivsuse hindamine

8 November Andres Sutt (European Financial Stability Facility)
Euroopa võlakriis ja kriisimeetmed
19 October Jaime Guajardo (International Monetary Fund)
World Economic Outlook
02 October
David Seim (Institute for International Economic Studies, Stockholm University)
Tax Rates, Tax Evasion and Cognitive Skills
21 June Gabor Katay (Magyar Nemzeti Bank)
Assessing Changes of the Tax-Transfer System: a New General Equilibrium Microsimulation Approach
24 May

Teodora Borota (Uppsala University)
World Trade Patterns and Prices: The Role of Productivity and Quality Heterogeneity?

10 May Indermit Gill (The World Bank)
Golden Growth: Restoring the Lustre of the European Economic Model
7 April
Konstantîns Benkovskis (Bank of Latvia)
Evaluation of non-price competitiveness of exports from Central, Eastern and Southeastern European countries in the EU market
12 April
Natalja Viilmann, Orsolya Soosaar (Eesti Pank)
Eesti tööturu ülevaade
1 March

Kadri Männasoo (Eesti Pank, visiting researcher)
Determinants of Bank Interest Spread in Estonia

Jaanika Meriküll (Eesti Pank)
Households Borrowing During a Creditless Recovery

Dmitry Kulikov (Eesti Pank)
Consumption Sensitivities in Estonia: Income Shocks of Different Persistence

2 February
Karsten Staehr (Eesti Pank)
The impact of the global financial crisis on output performance across the European Union: vulnerability and resilience

Lenno Uusküla (Eesti Pank)
Võlakoormuse mõju majanduskasvule
19 January
Aleksei Netšunajev (European University Institute)
Reaction to Technology Shocks in Markov-switchings Structural VARs: Identification via Heteroskedasticity

Open seminars of Eesti Pank in 2011

Date and time Lecturer (Institution) and topic
15 December Taavi Seim (Institute for International Economic Studies)
Heterogenous Effects of Job Displacement
27 October Christian Schumacher (Deutsche Bundesbank)
Nowcasting German GDP: Research Results and Models Used at the Bundesbank
12 October

Yuko Kinoshita (International Monetary Fund)
2011 Article IV Consultation with Estonia: Trade and Labor Market Development and Challenges

Jonas Fischer (European Commission)
The excessive imbalances procedure (EIP)

2 September Michael Funke (University of Hamburg)
What Drives Urban Consumption in Mainland China? The Role of Property Price Dynamics
18 August Winner of the Eesti Pank Research Award in 2011:
Indrek Saar (University of Tartu)
Optimaalne alkoholi maksustamine: simulatsiooni tulemused Eestis
10 June Istvan Konya (Magyar Nemzeti Bank, Central European University)
Interest Premium, Sudden Stop, and Adjustment in a Small Open Economy
13 May

Shang Jin-Wei (Columbia University)
The future of China's growth miracle

18 February Research in Eesti Pank in 2011:
Jaanika Meriküll (Eesti Pank)
Eesti tööjõu mobiilsus majanduskasvu ja -languse aastatel 2001-2010
Tairi Rõõm (Eesti Pank)
How Wages Respond to Shocks: Asymmetry in the Speed of Adjustment
7 February Prof Ragnar Nurkse Memorial Lecture:
Prof. dr. Axel A. Weber (European Central Bank/Deutsche Bundesbank)
The Euro: Opportunities and Challenges