Publications

Academic Publications

Childhood Shocks and Fertility – Evidence from Parental Job Loss

Riukula Krista
This paper examines whether adverse childhood economic shocks affect fertility in adulthood. Using Finnish administrative data and plant closures
Briefs 180

Innovations, International Trade and the Green Transition as Drivers of Finnish Economic Growth

Kaitila VilleKuosmanen NataliaMaczulskij Terhi
This brief examines the links between research and development (R&D), innovation, international trade, and the green transition in Finland.
Reports 177

Corporate Restructuring and Creative Destruction

Kuosmanen NataliaKuosmanen TimoMaczulskij Terhi
A substantial share of firm entries and exits observed in administrative data occur through mergers, acquisitions, and other forms
Briefs 179

Persistence of Market Power: The Limits of Firm Dynamics and Competition in Finland

Markkanen Jaakko
Average markups of Finnish firms remain stable, but this stability conceals a substantial structural shift: low-markup firms have lost
Other publications

The Value Chains of the Nordics – Tracking Resilience and Vulnerabilities

Ali-Yrkkö JyrkiBøegh Nielsen Peter
The Value Chains of the Nordics – Tracking Resilience and Vulnerabilities
The global economy is rapidly moving into a geo-economic era defined by increasing geopolitical tensions and rising protectionism, directly
Working Papers 138

DemoGraphics – Population in Pictures

Alho Juha
The recent drastic decline of fertility has further worsened the negative intrinsic growth of Finland. The country appears to
Academic Publications

Firm-level Responses to Export Demand Shocks: Swedish and Finnish Exporters

Maczulskij TerhiEl-Sahli ZouheirNilsson Hakkala Katariina
We study how incumbent exporters adjust to firm-specific export demand shocks, using matched firm-, product- and destination-level data for
Briefs 178

AI Has a Neutral or Even Positive Association with the Well-Being of Finnish Wage Earners

Kauhanen AnttiRouvinen Petri
Based on Statistics Finland’s Quality of Work Life Survey, we find that AI use, or its intensity, is not
Working Papers 137

AI and Worker Well-being: Evidence from a Nationally Representative Study

Bryson AlexKauhanen AnttiRouvinen Petri
Utilizing nationally representative cross-sectional and longitudinal data from Finland (2018–2023), we provide a population-level assessment of the relationship between
Academic Publications

Which Discoveries Are Paradigm Shifting?

Ashouri SajadHajikhani ArashHyytinen AriRouvinen PetriSuominen Arho
To more closely align theories of paradigm-shifting discoveries and their empirical quantification, we propose a novel measure that incorporates
Briefs 177

How Does Immigration Affect the Finnish Economy?

Kauhanen Antti
Immigration affects the Finnish economy in various ways, including through the labour market, productivity, and public finances. The economic
Reports 176

Economic Impacts of Immigration: The Structure of Immigration and Integration Play a Determining Role

Kauhanen Antti
The report demonstrates that the economic impacts of immigration are not unequivocally positive or negative, but are decisively influenced
Reports 175

At the Limits of Taxation: Perspectives on High Marginal Tax Rates in Finland

Kuusi TeroKotamäki MauriKirkko-Jaakkola Mikael
We examine the effects of Finland’s highest marginal income tax rates by integrating traditional analytical frameworks, recent empirical evidence,
Reports 174

Does Information Sharing Encourage Participation in Education? Final Report on the Letter Mail Experiment and the Outreach Pilot

Karhunen HannuKauhanen AnttiKuhakoski JaniRiukula KristaSuhonen TuomoVanhala PekkaVirtanen Hanna
This study evaluated the effectiveness of two different measures in increasing participation in adult education among adults with low
Briefs 176

Finland’s Recently Tightened Business Finance Landscape: Particularly Growth-oriented and Innovative Businesses Under Pressure

Kaila MatiasPajarinen MikaRouvinen PetriYlhäinen Ilkka
We analyze recent shifts in the financial conditions of Finnish enterprises, utilizing the European Central Bank’s survey data that
Briefs 175

Do R&D Spillovers Support Emission Abatement Targets?

Kuosmanen NataliaKuosmanen Timo
Abstract This brief examines how R&D spillovers are associated with firm-level greenhouse gas emissions in Finnish energy-intensive manufacturing. The
Working Papers 136

Do R&D Spillovers Support Low-carbon Transition? Firm-level Evidence from Finnish Energy-intensive Manufacturing

Kuosmanen NataliaKuosmanen TimoZhou Xun
A structural shift from fossil fuel-based energy systems to renewable, sustainable energy sources critically depends on research and development
Reports 173

An Evaluation of the 2026 Earnings-Related Pension Reform

Lassila JukkaValkonen TarmoKauppi Eija
This study evaluates the reforms proposed by the Ministry of Social Affairs and Health for the earnings-related pension system
Briefs 174

Firm Subsidies in the Green Transition

Kässi OttoWang Maria
This policy brief analyses the level and structure of business support measures related to the green transition in Finland
Books

Growth Leap of Finland and its Businesses: Innovation and Finance Justify Rational Optimism

Maliranta MikaRouvinen Petri
In this book, we examine the roles of innovation and finance in the growth of the Finnish economy and
Briefs 173

Artificial Intelligence Has Not Impacted Youth Labor Market Outcomes in Finland

Kauhanen AnttiRouvinen Petri
While research by Brynjolfsson et al. (2025) suggests that youth employment in the United States has declined significantly in
Working Papers 135

AI Has Not Impacted the Youth Labor Market in Finland

Kauhanen AnttiRouvinen Petri
We examine the impact of generative AI on the youth labor market in Finland by replicating the key analyses
Academic Publications

Assessing the Accuracy of Probabilistic Population Forecasts

Alho JuhaKeilman Nico
Stochastic demographic forecasts indicate to their users the ex ante level of uncertainty to be expected. There are approximately
Briefs 172

The Societal Costs of Taxation – Policy Recommendations for Finland

Ropponen Olli
This brief examines the societal costs of taxation using international economic research literature and the Marginal Value of Public

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