Publications

08.05.2025 Academic Publications

28.04.2025 Reports 163

Public Sector Wage-Setting: Can an Export-Led Labour Market Model Be Created in Finland?

Kauhanen Antti

The Finnish labour market model has been undergoing a transformation since 2007, and the role of the public sector

22.04.2025 Briefs 158

Ex-Nokians Eagerly Became Entrepreneurs and Business Angels: Nokia Experience Fueled Rapid Growth of Startups’ Turnovers

Rouvinen PetriBreznitz DanPajarinen Mika

This brief examines entrepreneurship and business angel activity in Finland following the challenges Nokia’s mobile telephony business faced in

17.04.2025 Briefs 157

Public Finance Perspective from Recent Studies on Finnish Pharmaceutical Markets

Jokelainen AnttoMarkkanen JaakkoSiikanen MarkkuToivanen Otto

Petteri Orpo’s government program plans to reform pharmaceutical and pharmacy regulation in Finland. In this memo, we review some

15.04.2025 Reports 162

A Clean Tariff? Effects and Challenges of EU CBAM

Kaitila VilleKuusi TeroPajarinen MikaWang Maria

This study examines the impacts of the European Union’s Carbon Border Adjustment Mechanism (CBAM) on corporate costs, adaptation strategies,

08.04.2025 Reports 161

Finnish Business Finance in European Comparison: Money is Not the Key Bottleneck to Economic Growth

Rouvinen PetriYlhäinen Ilkka

Finnish businesses face fewer financial challenges than their European peers. To the extent financial challenges do exist, they disproportionately

02.04.2025 Briefs 156

The Long-term Effects of Finland’s Recession of the 1990s on Mortality

Maczulskij Terhi

Job loss is one of the most significant negative shocks experienced by an individual. Job loss can lead to

28.03.2025 Academic Publications

Effect of Secondary Education on Cognitive and Non-cognitive Skills

Ollikainen Jani-PetteriPekkarinen TuomasUusitalo RoopeVirtanen Hanna

We examine the effects of secondary education on cognitive and non-cognitive skills using admission cutoffs to general secondary schools.

27.03.2025 Working Papers 127

Service Industries, Capital Intensity, and Labour Productivity

Kaitila Ville

We analyse the development of labour productivity in five service industries in Europe, the United States, and Japan. Vis-à-vis

24.03.2025 Briefs 155

US Tariffs Would Seriously Hit the Finnish Economy

Ali-Yrkkö Jyrki

The United States has proposed large tariff increases, which will probably also apply to the EU. The majority of

20.03.2025 Briefs 154

Productivity at its Highest at an Intermediate Intensity of Work from Home

Kangasharju AkiKauhanen AnttiPajarinen MikaRouvinen Petri

We examine the relationship between remote work intensity and labor productivity using a survey of Finnish business leaders conducted

10.03.2025 Briefs 153

The Impact of Economic Crises on Intangible Investments: Why Did Intangible Investment Decline in Finland?

Kässi Otto

This research note examines the impact of economic crises on intangible investments, with a particular focus on why the

05.03.2025 Reports 160

What is Obstructing the Growth of Finnish Companies?

Laurikka Annu

The study examines the relationship between firm size and its management’s subjectively perceived growth constraints and financing limitations. Additionally,

28.02.2025 Academic Publications

Micro-level Structural Change Decomposition of Carbon Productivity: Application to Electricity Generation in Finland

Kuosmanen NataliaKuosmanen TimoMaczulskij Terhi

The transition to renewable energy can lead to major structural changes within the energy sector: climate policies encourage the

27.02.2025 Academic Publications

Causally-informative analyses of the effect of job displacement on all-cause and specific-cause mortality from the 1990s Finnish recession until 2020: A population registry study of private sector employees

Zellers StephanieAzzi ElissarLatvala AnttiKaprio JaakkoMaczulskij Terhi

Background: Job loss is related to morbidity and mortality, but generation of causal evidence is challenging due to confounding

24.02.2025 Working Papers 126

Hiring the First Non-native Worker and Exports

Maczulskij Terhi

This study examines whether non-native workers contribute to firms’ export growth, using matched data spanning nearly three decades and

20.02.2025 Academic Publications

Firm Responses to an Interest Barrier: Empirical Evidence

Harju JarkkoKauppinen IlpoRopponen Olli

In this paper, we study the effects of an interest barrier (IB) that was introduced in Finland in 2014

19.02.2025 Briefs 152

Finnish Trade Sector Shows Recent Productivity Gains – Future Success Hinges on Intangible Investments

Rouvinen PetriPajarinen MikaAli-Yrkkö Jyrki

We analyze value added, productivity, and tangible and intangible investments in the retail and wholesale trade sectors (hereafter, ”trade”)

18.02.2025 Academic Publications

Optimal Resource Allocation: Convex Quantile Regression Approach

Dai ShengKuosmanen NataliaKuosmanen TimoLiesiö Juuso

Optimal allocation of resources across sub-units in the context of centralized decision-making systems such as bank branches or supermarket

17.02.2025 Reports 159

Moving Faster towards a Circular Economy: A Review of Policies and Indicators

Kuusela Olli-PekkaRopponen Olli

Finland’s Strategic Programme for a Circular Economy seeks to increase both resource productivity and circular material use rate twofold

13.02.2025 Other publications

Productivity Development in the Private Sector Services in Finland and Sweden – What Explains the Differences?

Koski Heli

The level of labor productivity in the Finnish services sector has been lower and growing more slowly than in

11.02.2025 Reports 158

Economy at a Standstill: The Problem of High Marginal Tax Rates in Finland

Kuusi TeroKotamäki MauriKirkko-Jaakkola Mikael

Our analysis indicates that high marginal tax rates may diminish economic activity and weaken public finances in Finland. The

31.01.2025 Academic Publications

Winners and Losers of Generative AI: Early Evidence of Shifts in Freelancer Demand

Teutloff OleEinsiedler JohannaKässi OttoBraesemann FabianMishkin Pameladel Rio-Chanona R. Maria

We examine how ChatGPT has changed the demand for freelancers in jobs where generative AI tools can act as

28.01.2025 Reports 157

The Behavioral Effects of Inheritance, Estate and Gift Taxes

Ropponen Olli

This report examines the behavioral effects of inheritance, estate and gift taxes. It also provides an overview of inheritance,