Working Papers of Eesti Pank 1/2020 In this paper, we investigate the ownership of financial assets within families and how pooling affects the individual savings of the partners. We use anonymised monthly transactional data from ING Bank to observe the financial data of Dutch couples for 2014–... more

Eesti Pank has announced a competition for a research prize dedicated to the memory of Urmas Sepp to be awarded for economic research by young Estonian researchers.

In 2020 Eesti Pank will grant the award in two categories, with one award of 2300 euros for research leading to a PhD... more


From 2 March until 30 June, Eesti Pank and Statistics Estonia will be carrying out research in order to collect information on the assets, liabilities, income and expenses of Estonian households. The survey is being run by the central banks of all the euro area countries in 2020 and is... more

  • Martti Randveer (Head of the Economics and Research Department)
  • Tairi Rõõm (Head of the Research Division)
  • Alari Paulus
  • Dmitry Kulikov
  • Jaanika Meriküll
  • Juan Carlos Cuestas
  • Karsten Staehr
  • Lenno Uusküla
  • Liina Malk... more

The Estonian Household Finance and Consumption Survey (HFCS) collects data on the assets, liabilities, income and consumption of households, and is carried out jointly by Eesti Pank and Statistics Estonia.

Who will take part?

Similar surveys are run by the central banks of all... more


Economists and people interested in economics are kindly invited to attend the open seminars of Eesti Pank. The goal of the open seminars is to promote exchange of ideas between the central bank, the academic community and economic policy institutions.

The program of open seminars was... more


Research interests

Taxation, public finances, fiscal microsimulation, economic inequality


  • PhD in Economics, University of Essex, United Kingdom, 2015
  • MA in Economics, University of Tartu, Estonia, 2006
  • BA (cum laude) in Economics,... more
Research fields Subfields Ongoing research in 2020 Development of models
  • Macroeconomic models
  • Banking sector models
  • Short-term forecasting models
  • Development of the credit risk and... more
Working Papers of Eesti Pank 9/2019 This paper contributes to the climate-economy literature by analysing the role of weather patterns in influencing the transmission of global climate cycles to economic growth. More specifically, we focus on El Niño Southern Oscillation (ENSO) events and their... more
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
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