Occasional Papers of Eesti Pank 2/2020 Authors: Helen Ljadov, Reet Reedik, Raido Kraavik, Taavi Raudsaar, Lauri Matsulevitš, Dmitry Kulikov, Kaspar Oja, Lenno Uusküla, Nicolas Reigl, Karsten Staehr Several central banks have started using negative interest rates alongside other nonstandard... more
Working Papers of Eesti Pank 4/2020 This paper investigates whether various measures of capacity pressure or available production capacity may help predict the dynamics of exports from the EU countries in Central and Eastern Europe. The analysis uses annual panel data for the 11 countries from... more
Working Papers of Eesti Pank 8/2018 The paper seeks to determine the factors that drive the current account dynamics of the 11 EU members from Central and Eastern Europe (CEE). Panel data models are estimated on annual data for the period 1997–2017 and both domestic pull factors and... more
Working Papers of Eesti Pank 4/2018 Article: Cheating in Europe: underreporting of self-employment income in comparative perspective, 2020, International Tax and Public Finance, Vol. 27, pp. 363-390. This study is the first to provide comparative estimates of the extent of income... more
Working Papers of Eesti Pank 10/2017 This paper estimates panel data models that use macroeconomic and macrofinancial variables to forecast the ratio of non-performing loans to total loans. The panels consist of either all EU countries or various subgroups, and the time sample is... more
Working Papers of Eesti Pank 8/2017 Article: Total factor productivity growth in Central and Eastern Europe before, during and after the global financial crisis, 2019. Post-Communist Economies, Vol. 31, No. 2, pp. 137-160. This paper conducts growth accounting for 11 EU countries... 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
This paper analyses how the statutory minimum wage has affected the wage distribution in Estonia, a country with virtually little collective bargaining and relatively large wage inequality. The computations follow Lee (1999) but the effects of the minimum wage are identified by the... more
Working Papers 5/2015 Article: Macroeconomic Factors in the Dynamics of Corporate and Household Saving. Evidence from Central and Eastern Europe, 2017, Emerging Markets Finance and Trade, Vol. 53, No. 11, pp. 2585–2608. This paper uses panel data estimations on annual data from 10 ... more
This paper examines the empirical validity of the hypothesis of uncovered interest parity (UIP) using data from five Central and Eastern European countries with floating exchange rates for the period 2003–2014. The analysis includes forward-looking as well as static expectations... more
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