Andres Vaher

Annual Conference of Estonian Economic Association (EMS) 2023

You are invited to participate in the 18th annual conference of the Estonian Economic Association to be held in Estonia, AQVA Hotel & Spa (Rakvere) on 26.-27.01.2023.

The broader topic of the conference is Energy and Economy. The law of conservation of energy also applies in the economy, including organizations - energy is neither created nor lost, it can only change from one form to another. Where does energy come from and where does it disappear in the economy? How to ensure that people - both managers and employees - do not run out of energy? How to ensure that the energy does not flow out of the universities? The EMS conference is a good opportunity to take some time off and create new energy together.

The academic focus of the conference is on energy security, sustainability and climate change. The keynote of the conference will be delivered by Annela Anger-Kraavi, Senior Research Associate and a lead of Cambridge Institute for Sustainability Leadership (CISL), Cambridge University. Dr Annela Anger-Kraavi is an active researcher in the area of climate change economics. She is also a Director of Studies in Economics at Downing College, Cambridge.

In the panel session, Estonian politicians and practitioners in the field of energy will discuss the topics of energy production, energy security and climate change.

Link to the Event in Estonian


EMS 2023

Thursday, 26 January 2023


10.45 – 12.45  Excursion to the Estonian Police Museum (English speaking guided tour), Rakvere

13.00 – 14.00 Lunch in a hotel

14.00 – 14.15 Room: Rooma I. Opening remarks, Kadri UkrainskiPresident of EMS

14.15 – 15.15 Main presentation: "Green turn and economics," The expatriate Estonian visiting professor Annela Anger-Kraavi, University of Cambridge 

Poster presentations, see the list below. Poster presentations will be reviewed during (coffee) breaks. Doctoral students are waiting for feedback on their posters.

15.15 15.30 Coffee break

15.30 17.00 Presentations in three sessions

NB! The last presenter of each session is also the chair of the session, who controls the use of time.

If there are 3 presentations in the session:
Each presenter has 20 minutes for presentation + 5-7 minutes for discussion
If there are 4 presentations in the session:
Each presenter has 15 minutes for presentation + 5-7 minutes for discussion

 Room: Rooma I

Environment and green economy

Marge Täks, Renee Pesor, Aleksandra Kekkonen

Estonian entrepreneurs’ awareness of green transition

Aleksandra Kekkonen Marge Täks, Renee Pesor

Stepping towards the green transition: challenges and opportunities in the case of Estonian firms

Dmitri Neshumayev, Aaro Hazak, Artjom Saia, Priit Sander, Oliver Järvik, Alar Konista

Carbon Capture Opportunities in Shale Oil Plants: Techno-Economic Evaluation



Room: Rooma II

Skills and labor market

Kadri Männasoo, Jon Kristian Pareliussen, Artjom Saia

Digital Capacity and Employment Outcomes: Microdata Evidence from Pre- and Post-COVID-19 Europe

Anastasiia Pustovalova

Heterogeneity of ICT skills and the wage returns they create

Ronald W. Anderson, Karin Jõeveer

Bankers’ Pay and the Evolving Structure of US Banking


Room: Marcus

Banking, monetary policy

Luca Alfieri,  Mustafa Hakan Eratalay, Darya Lapitskaya, Rajesh Sharma

The Effects of the ECB Communications on Financial Markets before and during Covid-19 Pandemic

Merike Kukk, Natalia LevenkoNicolas Reigl

Borrower-based policy measures in Estonia: the impact of DSTI limit on new housing loans

Dmitry Kulikov

Introduction and applications of the Macro-At-Risk Toolbox


17.00 – 17.15 Coffee break

17.15 – 18.15  Podium discussion "Energy: climate change and security" (in Estonian)

Participants: Annela Anger-Kraavi, University of Cambridge, Andres Vainola, Enefit Power; Kalev Kallemets, Fermi Energia; Innar Kaasik, Enefit Green. Moderator: Raul Omel, University of Tartu

18.15 – 20.00  Leisure time, SPA. The price of the accommodation includes unlimited use of the water and sauna center, swimming pool, and gym. In addition, Spa treatments are -15% for all participants of the conference.

20.00  … Dinner and meeting in a hotel 


Friday, 27 January 2023


8.00 9.30 Breakfast in a hotel

9.30 – 11.00 Presentations in four sessions


  Room: Rooma I

Macroeconomy, foreign economy

Konstantins Benkovskis, Jaanika Meriküll,

Aurelija Proškute

The propagation of Covid-19 shocks via global value chains

Michael Funke, Lenno Uusküla

Demand and supply decomposition of the Covid pandemic recession

Karsten Staehr, Oļegs Tkačevs,  Katri Urke

Fiscal Performance under Inflation and Inflation Surprises. Evidence from Fiscal Reaction Functions for the EU Countries

Christoph Basten, Merike KukkJan Toczynski

Heterogeneity in Individuals’ Inflation Exposure and Consumption Response to the Experienced Inflation



Room: Rooma II

Entrepreneurship and organisations

Aleksei Gorgadze, Iuliia Trabskaia, Mervi Raudsaar, Н. Myyryläinen

A bibliometric analysis of social entrepreneurship and entrepreneurial ecosystem

Ilona Kandelin, Arvi Kuura, Riina Tomast

Design(ing) for the benefit of entrepreneurship

Kaisa Raadik, Arvi Kuura

Organisational aesthetics in temporary organisations

Maaja Vadi, Urmas Varblane

The change/dynamics of mandate of Estonian subsidiaries of MNCs in the process of restructuring of global value chains


Room: Marcus

Energy and electricity prices

Andres Võrk, Mihkel Solvak, Helen Poltimäe

Effect of electricity subsidies on electricity consumption of Estonian households

Renee Pesor

The surging electricity prices in the eurozone as a consequence of monetary policy

Gaygysyz Ashyrov, Nicolas Gavoille, Kjetil  Haukås, Rasmus Bøgh Holmen, Jaan Masso

Firm-level production networks: insights from Estonia and potential path for policy


Room: Antonius

Education + Varia

Gaygysyz AshyrovDenis Ivanov

Mega-events and human right violations: empirical evidence from the long-term perspective

Merle Ojasoo, Marianne Kallaste

Uus vaade väärtuspakkumise põhisele ärimudelile

Basel  Hammoda

A framework for Inclusive Digital Education Access: Insights from Erasmus+ IDEA project

Kaire Põder

The student support system in mediating work-related dropout: A comparative analysis of four worlds of student funding


11.00 – 11.30 Coffee break, check-out

11.30 – 12.15 Overview of the Estonian economy, Ülo Kaasik, Deputy Governor of Eesti Pank. (In English)

12.15 – 13.00 Overview of the activities of member organizations

13.00  13.15 General meeting of EMS

13.15 – 14.00 Lunch in a hotel

14.00 – Buses to Tallinn and Tartu


Poster presentations

Laura Helena Kivi

Essays on regional labour markets and adjustment of foreign labour force

Jelena Ariva

Scenarios of possible changes in agricultural land use 

Aaro Hazak, Marit Rebane, Kadri Männasoo, Vladislav Fjodorov

Mental health across labour market segments during the onset of the COVID-19 pandemic: Evidence from Estonia

Kadri Männasoo, Miina Hõbenael, Svetlana Ridala

Big language minority and small language majority: language skills and unemployment in Latvia

I. Byrkov, Aleksei Gorgadze, Iuliia Trabskaia

The  Impact of  Satisfaction Dimensions on Conative Component of Visitors’ Behaviour: User Generated Content Analysis of Museums Online Reviews 

Aleksei GorgadzeJaan Masso

Effect of Firms Board Gender and Education diversity on Export behaviour in Estonia

Urmas Tross

Institutional entrepreneurship in local governments in the context of regional development

Tairi Leis

Decision-making logics: effectuation and causation in VUCA and non-VUCA environments



You are invited to submit your abstract, paper or full session proposals for parallel sessions. While papers and sessions from all sub-fields of economics, public administration and business administration will be considered, those on the conference theme will be particularly encouraged. The working languages of the conference are Estonian and English.

The deadline for sending the 300 words abstract of the planned presentation is December 12.   

Send your files


Additionally, there will be a poster session for PhD students. PhD students have an opportunity to present their research in order to get the presentation experience and collect feedback from conference participants. Students of UT can also get a credit for the PhD seminar. The deadline for proposals about the planned poster presentations is December 12, 2022.  

The conference registration deadline is January 6, 2023.

  • Participation fee with accommodation in a double/twin room - 200 eurot.
  • Participation fee with accommodation in a single room  - 250 eurot.
  • Participation fee witout accommodation150 eurot

The participation fee includes accommodation, meals, visit to the SPA, visit to the Estonian Police Museum and transport to Rakvere and back.

Register here

Buses to Rakvere depart from:

  • Next to the Delta building, Narva mnt 18 at 9.00 am
  • Next to the TalTech, Ehitajate tee 5  at 8.45 am
  • Next to the EBS, Lauteri 3  at 9.05 am


Jaan Masso
UT SEBA, Head of Chair of Economic Modelling, Associate Professor in Applied Econometrics
+372 737 6395
In case of any questions and suggestions, please contact Jaan Masso.
Jaan Masso
UT SEBA, Head of Chair of Economic Modelling, Associate Professor in Applied Econometrics
+372 737 6395
EMS 2023 logod