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Labor Market Policies and Labor Market Flexibility During the Great Recession: The Case of Estonia

In: Labor Migration, EU Enlargement, and the Great Recession

Author

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  • Raul Eamets

    (University of Tartu)

Abstract

In Estonia, a liberal market economy, a relatively small public sector, and a relatively low tax burden result in scarce resources for policy options. Attempts to achieve an annually balanced state budget have a pro-cyclical nature, which means that it works well during economic booms, exaggerating growth through growing public expenditures. The opposite took place during the recession when the government tried to cut expenditures in order to keep the budget deficit under control. As taxes were relatively low, the government also missed sufficient automatic stabilizers. In general, one can say that government had limited fiscal tools to smooth cyclical fluctuations.

Suggested Citation

  • Raul Eamets, 2016. "Labor Market Policies and Labor Market Flexibility During the Great Recession: The Case of Estonia," Springer Books, in: Martin Kahanec & Klaus F. Zimmermann (ed.), Labor Migration, EU Enlargement, and the Great Recession, pages 365-396, Springer.
    • Handle: RePEc:spr:sprchp:978-3-662-45320-9_15
    DOI: 10.1007/978-3-662-45320-9_15
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