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The Core of a Macro-economic Model for Estonia


  • Olivier Basdevant


  • Ulo Kaasik



This article presents a macro-econometric model for Estonia currently developed at the Bank of Estonia. It is based on a basic macro-economic framework that integrates both supply and demand side components. With this model we analyse the policy that should be implemented to maintain sustainable growth. The main emphasis is on the need to continue tough fiscal policy in order to maintain public deficit, as well as to avoid inflationary pressures and keep Estonia attractive to foreign investors.

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  • Olivier Basdevant & Ulo Kaasik, 2002. "The Core of a Macro-economic Model for Estonia," Bank of Estonia Working Papers 2002-06, Bank of Estonia, revised 13 Oct 2002.
  • Handle: RePEc:eea:boewps:wp2002-06

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