Working Papers of Eesti Pank 01/2016 The paper investigates the impact of debt repayment problems on consumption using quarterly panel data from 2004–2011 from Estonia, a euro area country. The results imply that arrears on debt lead to substantial short-term changes in consumption.... more
Working Papers 5/2015 This paper uses panel data estimations on annual data from 10 Central and Eastern European countries to assess the effect of different macroeconomic variables on the dynamics of corporate and household saving. The analyses reveal that changes in the macroeconomic... more
Working Papers of Eesti Pank 2/2014 The paper investigates the interdependence of household financial liabilities and assets, with special focus on the impact of liabilities on households’ holdings of financial assets. The paper uses the new ECB Household Finance and Consumption... more
Working Papers of Eesti Pank No. 6/2013 This paper estimates the extent of income underreporting by households with business income relative to households of wage earners in Estonia. The paper uses a modified version of the methodology pioneered by Pissarides and Weber (1989). The extent of... more
Working Papers of Eesti Pank. No. 3/2012 The Permanent Income Hypothesis (PIH) entails that consumption reacts more strongly to persistent than to temporary income shocks. This prediction is tested using data from the Estonian Household Budget Surveys for 2002-2007. The dataset contains... more
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