01783cas a2200241 a 4500 AALejournalIMF018482 230101c9999 xx r poo 0 0eng d 5.00 USD 9781484357354 1934-7685 BD-DhAAL BD-DhAAL International Monetary Fund. European Dept. Republic of Estonia : Selected Issues. Washington, D.C. : International Monetary Fund, 2018. 1 online resource (55 pages) IMF Staff Country Reports <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This Selected Issues paper analyzes the drivers of wage growth and inflation in Estonia. The analysis reveals that the role played by the inflation and inflation expectations in Estonia is different from those of the EU15. The impact of inflation on wage formation is smaller than in larger and richer countries with lower inflation volatility. This has limited the downward pressure on wages during the period of very low inflation in 2014-16. Although there has been an episode of wage growth leading inflation before the global financial crisis, the current simultaneous acceleration in prices and wages is not evidence of a developing wage-price spiral, as a significant share of the increase in inflation is owing to exogenous factors. Mode of access: Internet IMF Staff Country Reports; Country Report ; No. 2018/126 Full text available on IMF http://elibrary.imf.org/view/journals/002/2018/126/002.2018.issue-126-en.xml IMF e-Library