Working Papers of Eesti Pank 3/2016 Urška Čede, Bogdan Chiriacescu, Péter Harasztosi, Tibor Lalinsky, Jaanika Meriküll. Export characteristics and output volatility: comparative firm-level evidence for CEE countries The literature shows that openness to trade improves... more

Eesti Pank has announced the competition for the research prize for economic research by young researchers, which is dedicated to the memory of Urmas Sepp and open to young people who have completed their master’s or doctoral studies.

In 2016 Eesti Pank will grant the award in two... more


Senior Economist
E-mail: Juan.Carlos.Cuestas [at] eestipank.ee

Research interests:

  • International finance
  • European integration
  • Unemployment
  • Sovereign debt
  • Applied macroeconomics
  • Time series econometrics
  • ... more
  • The primary residence in the most valuable asset of Estonian households as its value accounts for roughly half of that of all assets
  • One fifth of the real assets of households are the assets of businesses that they own and that they work for
  • The largest part of the... more
Occasional Paper Series 3/2016 This paper presents the results of the Estonian Household Finance and Consumption Survey (HFCS) that was carried out in 2013. The HFCS is the first comprehensive survey on household assets, liabilities, consumption and financial fragility in... more
Working Papers of Eesti Pank 2/2016 The aim of this paper is to analyse empirically whether the level of institutional quality influences how financial development affects poverty for a sample of developing countries covering the period from 1984 to 2012. Using an interaction... more
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 of Eesti Pank 8/2015 This paper contributes to the literature on statistical identification of macroeconomic shocks by proposing a Bayesian VAR with time–varying volatility of the residuals that depends on a hidden Markov process, referred to as an MS-SVAR.... more
Occasional Papers 2/2015 Alistair Dieppe, Paolo Guarda, Maria Albani, Alberto González Pandiella, Esther Gordo, Owen Grech, Delphine Irac, Juha Kilponen, Dmitry Kulikov, Luca Marchiori, Ricardo Mourinho Félix, Niki Papadopoulou, Lisa Rodano, Dimitris Sideris, Edgar Vogel*.... more
Working Papers of Eesti Pank 7/2015 This paper investigates the effect of a macroprudential policy instrument, caps on banks’ leverage, on domestic credit to the private sector since the Global Financial Crisis. Applying a difference-in-differences approach to a panel of 69 advanced... more
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