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Global value chains and productivity : micro evidence from Estonia

Banh, Hang T.; Wingender, Philippe; Gueye, Cheikh - 2020

participation on productivity in Estonia using firm-level data from 2000 to 2016. We find that higher GVC participation at the … are important to raise aggregate productivity and potential growth in Estonia …

Persistent link: https://www.econbiz.de/10012252668

Globalization Drives Strategic Product Switching

Moreno Badia, Marialuz - 2008

Using firm-level data for Estonia for the years 1997-2005, we analyze the impact of international competition on firm …

Persistent link: https://www.econbiz.de/10014401739

Assessing the Risk of Private Sector Debt Overhang in the Baltic Countries

Herzberg, Valerie - 2010

Between 2000 and 2007 nonfinancial private sector credit expanded rapidly in the Baltic countries, resulting in a non-negligible build-up of debt. Could this legacy debt hold back the economic recovery of the region? This paper analyzes the setting in each of the three countries and, with the...

Persistent link: https://www.econbiz.de/10014402659

Adjustment Under a Currency Peg : Estonia, Latvia and Lithuania During the Global Financial Crisis 2008-09

Purfield, Catriona - 2010

The paper traces the Baltics’ adjustment strategy during the 2008-09 global financial crisis. The abrupt end to the externally-financed domestic demand boom triggered a severe output collapse, bringing per capita income levels back to 2005/06 levels. In response to this shock, the Baltics...

Persistent link: https://www.econbiz.de/10014397545

The Estonian Currency Board : Its Introduction and Role in the Early Success of Estonia's Transition to a Market Economy

Sutt, Andres - 2002

, 1992, Estonia became the first country from the former Soviet Union to abandon the Russian ruble and introduce its own … assesses the economic impact of the reform and also compares Estonia''s experience with that of its Baltic neighbors. It … concludes that although the currency board arrangement made an important contribution to the early success of Estonia …

Persistent link: https://www.econbiz.de/10014399419

On the Fast Track to EU Accession : Macroeconomic Effects and Policy Challenges for Estonia

Taube, Günther - 1999

This paper assesses the macroeconomic impact and policy challenges related to Estonia’s prospective accession to the EU …-based illustrative scenario using MULTIMOD. We conclude that the welfare enhancing effects for Estonia of further EU integration are … Estonia’s accession-related adjustment, its fiscal and structural policies should be geared toward mitigating domestic demand …

Persistent link: https://www.econbiz.de/10014400750

A European minimum wage : implications for poverty and macroeconomic imbalances

Detragiache, Enrica; Ebeke, Christian; Jirasavetakul, … - 2020

A hypothetical European Minimum Wage (MW) set at 60 percent of each country's median wage would reduce in-work poverty but have limited effects on overall poverty, as many poor households do not earn a wage near MW and higher unemployment, higher prices, and a loss of social insurance benefits...

Persistent link: https://www.econbiz.de/10012251363

One money, many markets : monetary transmission and housing financing in the euro area

Corsetti, Giancarlo; Duarte, João; Mann, Samuel - 2020

We study the transmission of monetary shocks across euro-area countries using a dynamic factor model and high-frequency identification. We develop a methodology to assess the degree of heterogeneity, which we find to be low in financial variables and output, but significant in consumption,...

Persistent link: https://www.econbiz.de/10012252067

It is only natural : Europe's low interest rates (trajectory and drivers)

Arena, Marco; Di Bella, Gabriel; Cuevas, Alfredo; … - 2020

Estimates of the natural interest rate are often useful in the analysis of monetary and other macroeconomic policies. The topic gathered much attention following the great financial crisis and the Euro Area debt crisis due to the uncertainty regarding the timing of monetary policy normalization...

Persistent link: https://www.econbiz.de/10012252665

Independent fiscal councils : recent trends and performance

Beetsma, Roel; Debrun, Xavier; Fang, Xiangming; Kim, Young - 2018

Countries increasingly rely on independent fiscal councils to constrain policymakers' discretion and curb the bias towards excessive deficits and pro-cyclical policies. Since fiscal councils are often recent and heterogeneous across countries, assessing their impact is challenging. Using the...

Persistent link: https://www.econbiz.de/10012252768