Republic of Estonia; Selected Issues
This paper assesses Estonia’s flexibility from two angles. The paper focuses on one aspect of that performance—the ability to sustain competitiveness. Then, a more forward-looking angle is the flexibility of Estonia’s labor and product markets. Estonia has made great progress in achieving real convergence in the last decade. Current account deficits are integral to convergence. A key question raised by this analysis is whether the large external imbalances and the counterpart buildup in external obligations will be smoothly reversed.
Year of publication: |
2006-11-29
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Institutions: | International Monetary Fund (IMF) ; International Monetary Fund |
Subject: | Benefits | Currency boards | Foreign investment | Gross domestic product | Income | Minimum wage | Real effective exchange rates | Savings | Selected issues | Unemployment | wage | wages | labor market | minimum wages | labor markets | labor market institutions | jobs | worker | wage bargaining | labor costs | flexible labor markets | job turnover | average wage | cyclical unemployment | job destruction | displaced workers | job creation | labour | compensation | labor market flexibility | employee compensation | job flows | active labor | new jobs | job search | labour market institutions | labor productivity | labor shortages | labor cost | job transitions | wage increases | active labor market policies | labor income | active labor market | job loss | job losses | labor market policies | labor forces | job reallocation | training course | job tenures |
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