Fiscal Federalism in Four Federal Countries

This paper provides a characterization of the fiscal policy framework in four established federal countries with heterogeneous intergovernmental relations and demographic characteristics: Canada, Germany, Switzerland and the United States. We consider the implications of fiscal federalism from three different perspectives. First, we study the allocation of expenditure responsibilities and revenue generating instruments to different levels […]

Real-Time Measures of the Output Gap and Fiscal Policy Stance

This paper studies real-time measures of the output gap and fiscal policy stance estimates for EU countries. We construct a comprehensive real-time data set on fiscal forecasts and study whether there are systematic differences between the European Commission and IMF estimates of the output gap and structural budget balance. We argue that differences in the […]

Private Services as a Source of Growth?

There are almost 200,000 enterprises operating in the Finnish service sector, combined. However, not all of the service industries are the same. Some services have become independent of geographical locations, meaning that they can be exported, much like physical products. Other services still require that they are produced and consumed in the same place. Significant […]

New investment model to speed up industrial regeneration

A completely new market-based investment model, which supports the regeneration of industry with the return levels demanded by investors, was introduced on Tuesday 28 October at the annual Cleantech Venture Day, organised for international investors and Nordic cleantech companies and held this year in Lahti. ETLA is developing the model in collaboration with Professor Peter […]

Publishing of spring 2015 forecast

ETLA’s spring 2015 forecast will be published.

The Impact of R&D Subsidies on Labor Productivity

We summarize and compare previous studies considering the impact of R&D subsidies on firm-level labor productivity. These studies conclude quite consistently that the subsidies provided by Tekes do not have statistically significant impact on its client firms’ labor productivity. These studies go astray from the outset, however, as they neither measure what Tekes is set […]

Fiscal Federalism in Four Federal Countries

This paper provides a characterization of the fiscal policy framework in four established federal countries with heterogeneous intergovernmental relations and demographic characteristics: Canada, Germany, Switzerland and the United States. We consider the implications of fiscal federalism from three different perspectives. First, we study the allocation of expenditure responsibilities and revenue generating instruments to different levels […]

Real-Time Measures of the Output Gap and Fiscal Policy Stance

This paper studies real-time measures of the output gap and fiscal policy stance estimates for EU countries. We construct a comprehensive real-time data set on fiscal forecasts and study whether there are systematic differences between the European Commission and IMF estimates of the output gap and structural budget balance. We argue that differences in the […]

Private Services as a Source of Growth?

There are almost 200,000 enterprises operating in the Finnish service sector, combined. However, not all of the service industries are the same. Some services have become independent of geographical locations, meaning that they can be exported, much like physical products. Other services still require that they are produced and consumed in the same place. Significant […]

New investment model to speed up industrial regeneration

A completely new market-based investment model, which supports the regeneration of industry with the return levels demanded by investors, was introduced on Tuesday 28 October at the annual Cleantech Venture Day, organised for international investors and Nordic cleantech companies and held this year in Lahti. ETLA is developing the model in collaboration with Professor Peter […]

Publishing of spring 2015 forecast

ETLA’s spring 2015 forecast will be published.

The Impact of R&D Subsidies on Labor Productivity

We summarize and compare previous studies considering the impact of R&D subsidies on firm-level labor productivity. These studies conclude quite consistently that the subsidies provided by Tekes do not have statistically significant impact on its client firms’ labor productivity. These studies go astray from the outset, however, as they neither measure what Tekes is set […]