Estonia gave up the exchange rate and monetary policy tools of macroeconomic management when it introduced its currency … country’s policy agenda. However, shocks affecting Estonia are only weakly synchronized with those of the euro area, and the … structure of its economy also notably differs from the euro zone. To benefit fully from joining the EMU, Estonia must strengthen …

We investigate how adopting the euro affects exports using firm-level data from Slovakia and Estonia. In contrast to … a floating exchange rate, while it has almost no effect in Estonia, which had a fixed exchange rate to the euro prior to …