The invention provides a process for preparing polymers based on vinyl ester, ethylene and optionally further comonomers in the form of aqueous polymer dispersions thereof or of water-redispersible polymer powders by means of free-radically initiated continuous emulsion polymerization and optionally drying of the resulting polymer dispersions, characterized in that the emulsion polymerization is carried out in a cascade comprising at least one upstream heat exchanger and at least two downstream pressurized stirred tank reactors connected in series, such that the conversion on leaving the heat exchanger is at least 10% of the overall polymerization conversion.