Business firms operate in a certain environment in which they interact with one another, with individuals, governmental organisations, financial institutions and various other interest groups. Operation of respective economic and social networks (both voluntary and private market determined) may...

The paper studies the financial market efficiency based on the data from Tallinn Stock Exchange, the rationality of expectations that is treated as financial rationality and the time series properties of inflation time series to get the forecasting model. The hypotheses to be tested are of...

The aim of the paper is to analyze the relationship between health and economic growth in Estonia. Health determines the quality of the human capital, which modern economic theories consider the principal factor of economic growth. On the basis of survey data we estimate the effect of...

The aim of the paper is to analyze and explain the impacts of fiscal policy on householdsí consumption. Specifically we analyze the role of both discretionary and non-discretionary fiscal policy on consumption. The authors examine tax system in Estonia and distribution of income between...

Expenditure on social protection in the European Union (EU) member states has been increasing rapidly over the last decade. To cover the increasing expenses, the countries need to find ways to increase revenues. Social protection financing systems and structure of financing vary across...

We show that principal component analysis enables the construction of geographic divisions of European social modelsNordic, Anglo-Saxon, Mediterranean, Continental, and Postcommunist, that basically follow Esping-Andersen's (1990) welfare regime typology. Instead of Esping-Andersen's criteria of...

Business firms operate in a certain environment in which they interact with one another, with individuals, governmental organizations, financial institutions and various other interest groups. Operation of respective social networks (both voluntary and private market-determined) may have an...

Direct investment outflow from transition economies abroad is still modest compared to investment inflow towards transition economies. Global economy both creates preconditions for and also motivates the internatio¨nalization of banks. The main aim of the article is to study activities of...