On 1 January 1999, the euro became the single currency of eleven EU Member States, thereby replacing the different national currencies at the respective irrevocably fixed conversion rates. The Member States concerned ceded their monetary policy powers to the European System of Central Banks...

Every year several thousand Estonians, most of them young and low- or medium-skilled, leave Estonia to find better paid work abroad. Given Estonia's low birth rate, the loss of 0.2-0.3% of its working-age population each year exacerbates the challenges posed by the ageing of its population....

Energy and carbon intensities in the Baltics are among the highest in the EU, in particular in transport, where the passenger car fleet is one of the most energy-intensive. Apart from low fuel taxes, another explanatory factor is that Estonia and Lithuania do not apply any car tax while the...

Financial market liberalisation and financial convergence after EU accession, extremely low real interest rates as well as fast rising disposable income and wage expectations contributed to rapid lending growth in Estonia from 2000 to 2007. Favourable fiscal provisions further contributed to the...