04193oam 22011654 450 991016292540332120230810001940.01-4755-6599-21-4755-6601-8(CKB)3710000001045050(MiAaPQ)EBC4800282(IMF)1ESTEA2017002(EXLCZ)99371000000104505020020129d2017 uf 0engurcnu||||||||rdacontentrdamediardacarrierRepublic of Estonia : Selected IssuesWashington, D.C. :International Monetary Fund,2017.1 online resource (42 pages) illustrations (some color), graphs, tablesIMF Staff Country Reports1-4755-6591-7 Includes bibliographical references.This Selected Issues paper examines the impact of fast unit labor cost (ULC) growth in Estonia. ULCs in Estonia have now reached a level at which further unmitigated wage growth risks material damage to competitiveness and income convergence prospects with western Europe. This highlights the importance of making Estonia’s pro-productivity policies a success, but in the nearer term the onus is on mitigating excessive wage growth because in this area, Estonia, together with the other Baltics, distinguishes itself from the rest of central and eastern Europe. Tax policy can provide short-term relief.IMF Staff Country Reports; Country Report ;No. 2017/010Labor productivityEstoniaLabor productivityFinance: GeneralimfLaborimfMacroeconomicsimfIndustries: ManufacturingimfProduction and Operations ManagementimfMacroeconomics: ProductionimfWages, Compensation, and Labor Costs: GeneralimfProductionimfCostimfCapital and Total Factor ProductivityimfCapacityimfEmploymentimfUnemploymentimfWagesimfIntergenerational Income DistributionimfAggregate Human CapitalimfAggregate Labor ProductivityimfHuman CapitalimfSkillsimfOccupational ChoiceimfLabor ProductivityimfLabourimfincome economicsimfFinanceimfManufacturing industriesimfProductivityimfTotal factor productivityimfLabor productivityimfIndustrial productivityimfEconomic theoryimfCompetitionimfEstonia, Republic ofimfLabor productivityLabor productivity.Finance: GeneralLaborMacroeconomicsIndustries: ManufacturingProduction and Operations ManagementMacroeconomics: ProductionWages, Compensation, and Labor Costs: GeneralProductionCostCapital and Total Factor ProductivityCapacityEmploymentUnemploymentWagesIntergenerational Income DistributionAggregate Human CapitalAggregate Labor ProductivityHuman CapitalSkillsOccupational ChoiceLabor ProductivityLabourincome economicsFinanceManufacturing industriesProductivityTotal factor productivityLabor productivityIndustrial productivityEconomic theoryCompetition330.957085DcWaIMFBOOK9910162925403321Republic of Estonia3418902UNINA