In a presentation at the annual conference of the Estonian Economic Association, Ardo Hansson, Governor of Eesti Pank, explained that the competitiveness of the exporting sector has been under higher pressure than before, as was shown by the loss of market share in export markets in 2015.

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Working Papers of Eesti Pank 6/2015 Antione Berthou, Emmanuel Dhyne, Matteo Bugamelli, Ana-Maria Cazacu, Calin-Vlad Demian, Peter Harasztosi, Tibor Lalinsky, Jaanika Meriküll, Filippo Oropallo, Ana Cristina Soares. Assessing European Firms Exports and... more
  • Tensions in the labour market have led rapid consumption growth to diverge from slow GDP growth
  • Stimulation of domestic demand by the government would increase the imbalances that have arisen
  • Labour productivity and a reduction in the market share of exports this year... more
Orsolya Soosaar Economist at Eesti Pank
  • The share of the working age population in employment has been higher than it was at the peak of the boom for four quarters now
  • Slower GDP growth and faster growth in employment mean that productivity growth slowed in the... more
Ardo Hansson Governor of Eesti Pank

Ardo Hansson, Governor of Eesti Pank, finds that the harmonisation of Estonian incomes with those of elsewhere in Europe will slow as the productivity growth of employees in Estonia is less far above the European average than it was.

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This paper assesses the extent of structural or sectoral change and its importance for aggregate productivity growth during times of boom, bust and recovery. The analysis covers 10 EU countries from Central and Eastern Europe over the years 2001–2012. The reallocation of labour across... more
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