| title: | The Convergence of Business Cycles between Estonia and EMU - the Impact of Specialisation on Asymmetric shocks |
|---|---|
| reg no: | ETF6168 |
| project type: | Estonian Science Foundation research grant |
| status: | accepted |
| institution: | Tallinn Technical University |
| head of project: | Kaie Kerem |
| duration: | 01.01.2005 - 31.12.2007 |
| description: | The main objective of the research is to analyse the impact of specialisation on asymmetric shocks and evaluation of Estonia's possibilities for improving the economic policy-making after the EMU membership. The research will focus on the following issues: - Estimating a degree of integration with EMU measured by openness, trade composition, labour mobility; analysing the similarities and differences of the economic structures of Estonia with EMU countries; - Estimating and assessing the cyclical synchronisation of Estonian business cycle with the business cycles of EMU countries; - Identifying the dynamic pattern of specialisation of Estonia and estimating the impact of specialisation on overall asymmetry of the cycles; - Evaluating policy options to reduce the impact of asymmetric shocks. The project deliverables include: 1. Exhaustive literature review on OCA and regional specialisation contribution to asymmetries; developing suitable methodologies; 2. Estimation of the production function and the OCA criteria; 3. Estimation of regional specialisation of Estonia and analysis of its contribution to asymmetry; 4. Development of policy recommendations and model-based analysis of shocks. Final results of the project will be published as papers in a monography and will be reported on international conferences; research results will be presented at discussions and seminars for policy makers. |
| project group | ||||
|---|---|---|---|---|
| no | name | institution | position | |
| 1. | Grigori Fainstein | Tallinn Technical University | Asst. Professor | |
| 2. | Kaie Kerem | Tallinn Technical University | professor of economics | |
| 3. | Natalie Lubenets | Tallinn Technical University | assistent | |
| 4. | Mare Randveer | Tallinn Technical University | Associate Professor | |
| 5. | Marge Sults | Tallinn Technical University | lecturer | |