Working Papers

25.08.2025 Working Papers 132

Export Demand Shocks and Environmental Performance: Evidence from Finnish Exporters

This paper examines how firms’ environmental performance responds to product- and destination-specific export demand shocks in their export markets.

14.08.2025 Working Papers 131

GenAI, Growth, and the Multi-Sector Multipliers

Kuusi Tero

This paper analyzes the macroeconomic impact of Generative Artificial Intelligence (GenAI) on the Finnish economy, integrating recent literature and

11.08.2025 Working Papers 130

Privacy Regulation and R&D Investments: Causal Evidence from Global Pharmaceutical and Biotechnology Firms

Koski Heli

This paper examines the effects of data privacy regulation on R&D investment in the pharmaceutical and biotechnology sectors. In

18.06.2025 Working Papers 129

Intangible Assets in Finnish Business

Pajarinen MikaRouvinen Petri

This working paper investigates intangible investments in Finnish firms from 2014 to 2019, utilizing comprehensive, register-based data from Statistics

26.05.2025 Working Papers 128

Growth in Chains: EU Value Chain Productivity and its Slowdown

Kuusi TeroLähdemäki Sakari

We examine value chain productivity within the EU15 from 1995 to 2017; a period marked by growth and its

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

24.02.2025 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

20.01.2025 Working Papers 125

Do Public Subsidy Schemes Foster Innovation and Competitiveness in Energy-Intensive Industries?

Koski HeliWang Maria

This study evaluates the impacts of public subsidies on firms in energy-intensive industries, focusing on R&D subsidies and compensation

02.01.2025 Working Papers 124

Immigration and Innovation in Finnish Manufacturing Firms

Maczulskij Terhi

Abstract This study examines the relationship between immigration and firmlevel innovation in the Finnish manufacturing sector. The analysis leverages

31.12.2024 Working Papers 123

Passthrough of Retail Price Regulation in the Market for Pharmaceuticals

Markkanen Jaakko

I study the transmission of pharmacy mark-ups to retail prices and the policy between retail markups and Value Added

27.11.2024 Working Papers 122

Impact of Acquistions by Foreign Companies on Innovation Activities

Ali-Yrkkö JyrkiKauhanen Antti

This study examines the impact of foreign acquisitions on innovation activities in Finnish target firms using comprehensive linked employer-employee

19.11.2024 Working Papers 121

Assessing Early Labor Market Effects of Generative AI – Evidence from Population Data

Kauhanen AnttiRouvinen Petri

This study examines the short-term impact of generative artificial intelligence (GAI) on employment and wages using data covering all

02.10.2024 Working Papers 120

Estimating the Labour Market Impacts of Transport Projects in Finland

Riukula KristaVäänänen Touko

Effects on labour market outcomes are often referred to when discussing the wider economic benefits of transport projects. However,

09.09.2024 Working Papers 119

Intangibles in Light of Industry-level CompNet Dataset

Pikka Aleksi

This paper studies the productivity effects of intangible assets using 9th vintage of the CompNet dataset. Descriptive work shows

07.09.2024 Working Papers 118

The Effects of the Decentralization of Collective Bargaining on Wage Differences Among Employee Groups

Kauhanen Antti

Recently, Finnish forest industries shifted from sectoral collective bargaining to firm-level bargaining, and the IT services industry shifted to

11.06.2024 Working Papers 117

An Analysis of Digitalization and Firm Performance in Finland’s Private Service Industries

Kuosmanen NataliaPajarinen MikaHeshmati Almas

The service sector is undergoing rapid changes attributed to digitalization. This study examines the relationship between digitalization and the

06.02.2024 Working Papers 116

Education, Gender, and Family Formation

Virtanen HannaSilliman MikkoKuuppelomäki TiinaHuttunen Kristiina

In response to the wide-ranging consequences of falling fertility rates, governments across high-income countries are considering how to increase

01.02.2024 Working Papers 115

Debt Burden of Job Loss in a Nordic Welfare State

Maczulskij TerhiKanninen OhtoKarhunen HannuTahvonen Ossi

The paper investigates the impact of involuntary job loss on severe debt problems in Finland, where up to 50%

19.01.2024 Working Papers 114

Least-cost Decarbonization Pathways for Electricity Generation in Finland: A Convex Quantile Regression Approach

Kuosmanen NataliaKuosmanen TimoMaczulskij TerhiZhou Xun

This study investigates the least-cost decarbonization pathways in the Finnish electricity generation industry in order to achieve the national

16.01.2024 Working Papers 113

Digitalization and Resilience: Data Assets and Firm Productivity Growth During the COVID-19 Pandemic

Koski HeliFornaro Paolo

This study investigates the impact of firm-level investments in data assets on productivity growth during the COVID-19 pandemic, utilizing

09.01.2024 Working Papers 112

Childhood Shocks and Fertility: Evidence from Parental Job Loss

Riukula Krista

Do economic shocks experienced in childhood carry on to the fertility outcomes in adulthood and if they do, how?

14.12.2023 Working Papers 111

Jobs, Workers, and Firms: Dissecting the Labour Market Effects of Finland’s COVID-19 Subsidy Program

Hirvonen JohannesKässi OttoRopponen Olli

This paper examines the labour market impacts of Finland’s initial COVID-19 subsidy program, designed to mitigate the economic fallout

12.12.2023 Working Papers 110

Effective Fiscal Policy in an Aging Economy: Evidence from a BVAR Analysis

Puonti Päivi

As people age, their consumption and saving behavior tends to change. At the same time, the share of age-related

06.11.2023 Working Papers 109

Shock Infections through Global Value Chains

Kuusi TeroAli-Yrkkö Jyrki

We examine how the Covid-19 shock was transmitted from the foreign, upstream parts of value chains to domestic (downstream)