Publications

Briefs 184

What Would a Four-day Work Week Cost Finnish Exports? Factor Prices and Export Price Competitiveness

Markkanen JaakkoSiikanen MarkkuValmari Nelli
We assess what a four-day, 32-hour work week would cost Finland’s goods exports across nine large commodity markets. Absent
Working Papers 141

Beggar-Thy-Neighbor by Other Means

Markkanen JaakkoSiikanen MarkkuValmari Nelli
A country that cannot devalue its currency can still cut its exporters’ costs through industrial policy and steal business
Reports 178

Extending the Carbon Border Adjustment Mechanism to Indirect Emissions: Implications for Finland

Wang MariaKuusi Tero
This report examines the planned extension of the EU Carbon Border Adjustment Mechanism (CBAM) to indirect emissions and its
Briefs 183

Value Creation in the Geoeconomic Transformation of the 5G and 6G Era

Koski HeliRouvinen PetriAli-Vehmas TimoHyvärinen NinaLakaniemi IlkkaLehtinen RistoMäki Denisa
5G and 6G are more than communications infrastructures: they provide a foundation for data- and software-driven value creation, productivity
Briefs 182

Geopolitical Rivalry Reshapes Global Innovation Networks

Koski Heli
Geopolitical tensions have increasingly extended to the development of strategic technologies. In particular, technological rivalry between the United States
Working Papers 140

Geopolitical Fragmentation and the Geography of 5G Innovation

Koski Heli
This study examines how the U.S.–China technological rivalry reshapes inventive collaboration in core 5G infrastructure technologies. Using 106,117 priority
Briefs 181

The EU ETS Stimulated Innovation Without Productivity Losses

Maczulskij Terhi
TThe EU ETS is the main climate policy instrument in the European Union. By putting a price on carbon
Working Papers 139

The Effect of EU ETS on Firm Productivity and Innovation-related Activity

Maczulskij Terhi
This study examines the impact of the EU Emission Trading System on firms’ productivity and innovation behavior in the
Academic Publications

Who Gains from Agglomeration? The Wage, Productivity, and Cost Effects of Transport Improvements on Firms and Workers

Riukula KristaVäänänen Touko
We study the impact of transport-induced agglomeration on worker earnings and establishment-level outcomes in the Helsinki region, Finland, using
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

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