30.11.2018
Kaspar Oja Economist at Eesti Pank

Statistics Estonia estimates that the economy grew by 4.2% in the third quarter over the year. This was a little faster than in the second quarter when the growth was 3.8%. The faster growth in the third quarter was an exception in the wider... more

30.10.2018
The labour market review by experts from Eesti Pank covers developments in the supply, demand and prices of labour in Estonia. The central bank observes the labour market for two reasons. Firstly, labour is an important production input, as a change in the supply or activity of labour can... more
31.08.2018
Kaspar Oja Economist at Eesti Pank
  •  Living standards in Estonia are at almost 80% of the European Union average
  • Further growth in the economy will be restrained by the fall in investment by companies and the slow growth in productivity
  • The economy... more
31.05.2018
Kaspar Oja Economist at Eesti Pank
  • Economic growth is supported by favourable monetary and fiscal policies
  • Potential threats include the political uncertainty in Italy and restrictions on free trade
  • Growth in private consumption and exports... more
28.02.2018
Kaspar Oja Economist at Eesti Pank
  • The good state of the economy can be used to provide security for the future
  • The greatest concern in the economy is low productivity
  • The manufacturing sector has lagged behind the rest of the economy in productivity... more
30.11.2017
Kaspar Oja Economist at Eesti Pank
  • Slowing growth does not mean that the risk of the economy overheating has disappeared
  • The slowdown in the oil shale sector played an important role in output developments
  • Low productivity remains a problem
  • ... more
31.08.2017
Kaspar Oja Economist at Eesti Pank
  • The output gap is positive
  • The economy does not need any additional stimulus
  • Rising export prices are helping profits to recover and are alleviating the imbalances that have built up

Estonian GDP was up... more

30.08.2017
Working Papers of Eesti Pank 8/2017 This paper conducts growth accounting for 11 EU countries from Central and Eastern Europe for the years 1996–2016. Its contributions include the estimation of new capital stock series, adjustment for the utilisation of the capital stock and a time-... more
31.05.2017
Kaspar Oja Economist at Eesti Pank
  • Growth accelerated in the first quarter in many countries
  • GDP growth was boosted by a recovery in output in the oil shale sector
  • Investments increased substantially

The Estonian economy grew by 4.4% over... more

28.02.2017
Kaspar Oja Economist at Eesti Pank
  • Growth in the economy was broadly based in the second half of 2016, with only a few sectors declining
  • The consequence of growth in labour costs is a shortage of profit and investment
  • Surveys show that companies have... more
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