Working Papers of Eesti Pank 8/2019 This paper takes a fresh look at the use of the Phillips curve and various inflation expectation proxies for tracking euro area inflation dynamics in the aftermath of the global financial crisis of 2008. Because inflation expectations can be measured in a... more
Working Papers of Eesti Pank 3/2019 This paper presents empirical estimates of bank credit procyclicality for a sample of 11 Central and Eastern Europe countries (CEECs) for the period 2000Q1–2016Q4. In the first step we estimate a traditional-type panel VAR model and analyse the evolution of... more
Working Papers of Eesti Pank 7/2018 This paper complements the standard Basel countercyclical capital buffer framework by suggesting four additional measures for credit gaps that can be used to measure the financial cycle and to decide on countercyclical capital buffers for banks. The new... more

Phone: +(00) 372 668 0665
E-mail: nicolas.reigl [at] eestipank.ee

Research interests:
International macroeconomics
Monetary economics
Economics of income, wealth and their distributions

Since 2015 — Ph. D.... more

Working Papers of Eesti Pank 7/2017 This paper empirically assesses the potential nonlinear relationship between competition and bank risk for a sample of commercial banks in the Baltic countries over the period 2000–2014. Competition is measured by two alternative indexes, the... more
Working Papers of Eesti Pank 8/2016 The paper presents forecasts of the headline and core inflation in Estonia with factor models in a recursive pseudo out-of-sample framework. The factors are constructed with a principal component analysis and are then incorporated into vector ... more
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