Publications

Briefs 168

​​Preferential Tax Schemes and High-Skilled Immigration: Lessons for Finland

Kauhanen AnttiRopponen Olli
High-skilled immigration has consistently demonstrated positive effects on firm performance, innovation, and productivity, while generally avoiding adverse impacts on
Briefs 167

Shifting Forces of Trade – What Does Geopolitical Reordering Mean for Finland?

Wang Maria
The gravity model is one of the most widely used tools in international economics, explaining trade between countries through
Briefs 166

Finland in the Crosscurrents of Geopolitics and Industrial Policy

Ali-Yrkkö JyrkiKuusi Tero
The era of geoeconomics has brought about the return of industrial policy in Finland and elsewhere. We examine the
Briefs 165

Searching for the Role of the State – Why Industrial Policy Has Made a Comeback?

Ali-Yrkkö Jyrki
After several decades, Finland has released an industrial policy strategy, joining other European nations such as Germany, Italy, and
Reports 168

What Kind of Companies Grow in Finland?

Ali-Yrkkö JyrkiPajarinen MikaRouvinen PetriYlhäinen Ilkka
Growth in employment and productivity is concentrated in private equity-backed business groups and, to a lesser degree, in foreign-owned
Academic Publications

Digital Technology Adoption and Firm Performance: Evidence from Finland’s Service Sector Using Linked Microdata

Kuosmanen NataliaPajarinen MikaHeshmati Almas
This study examines how digital technology adoption relates to firm performance in Finland’s private service sector, an ideal case
Academic Publications

Empirical Strategies and Data Requirements for Estimating Labour Market Impacts of Transport Projects

Riukula KristaVäänänen Touko
Transport infrastructure investment is an important tool for economic development, and its effects on labour market outcomes are often
Briefs 164

Bottlenecks in the Development of the Finnish Private Service Sector: How to Accelerate Productivity?

Kuosmanen NataliaKaitila VilleKuusi TeroMaczulskij Terhi
Productivity growth in Finland’s service industries has fallen behind that of peer countries, weakening the economy’s growth potential. This
Reports 167

Productivity in the Finnish Service Industries: Capital Intensity, Labor Allocation, Digitalization, Offshoring and Generative AI

Kuosmanen NataliaKaitila VilleKuusi TeroKässi OttoMaczulskij TerhiPajarinen Mika
This report examines the factors shaping productivity in Finland’s private service industries. Specifically, we focus on the link between
Working Papers 133

Are Firms Hiring Enough Workers? Firm-level Evidence from Finland’s Manufacturing and Service Industries

Kuosmanen NataliaKuosmanen TimoPajarinen Mika
Microeconomic theory posits that in competitive markets, wages are determined by the marginal revenue product of labor. This study
Reports 166

The Finnish Biotechnology Industry: Present Status, Expansion, and Growth Challenges

Kulvik MarttiPajarinen MikaSarin Christoffer
Over 830 companies operate in Finland’s biotechnology industry. Together, they generate a total turnover of 7.1 billion euros and
Briefs 163

Subsidies, But for What? A Comparative Look at Finland’s Green Subsidies

Wang MariaKässi OttoKuusi Tero
This brief examines environmental and energy-related business subsidies in Finland and compares them with those in other EU countries.
Working Papers 132

Export Demand Shocks and Environmental Performance: Evidence from Finnish Exporters

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

Cyclical Carbon Productivity and the Role of Innovation

Maczulskij TerhiFornaro Paolo
We examine the cyclicality of carbon productivity and consider innovation as a potential mechanism. We use unique data on
Briefs 162

Guilty and Not Guilty Industries for Low Economic Growth

Kangasharju Aki
After a difficult start to the 2010s, the rise in the material living standards in Finland started again in
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
Academic Publications

Firm Resilience During Long-Term Economic Stagnation: Register-Based Analysis of Finnish Manufacturing Firms

Ali-Yrkkö JyrkiKuosmanen NataliaPajarinen MikaYlhäinen Ilkka
Economic resilience, the ability of firms to withstand and recover from economic challenges, has traditionally been studied in response
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
Briefs 161

Efficiency or National Interest: The Economic Dilemma of EU Defense

Puonti Päivi
The EU’s defence industry is fragmented and inefficient, which hampers the rapid strengthening of military capabilities. For member states,
Briefs 160

Employer Costs of Sickness Absence: Results and Lessons Learned

Kulvik MarttiKuusi TeroLaurikka AnnuValkonen Tarmo
Sickness absence causes a significant loss of value added for employers and increases production costs. The subject is important
Reports 165

The Cost of Short-term Disability in Municipal Workplaces: Costs of Sickness Absence Incurred by Municipal Employers Prior to the Covid-19 Pandemic

Kulvik MarttiKuusi TeroLaurikka AnnuValkonen Tarmo
Sickness absence is a complex and costly problem that affects all parties in the workplace. The aim of our
Academic Publications

Returns to Adult Learning

Silliman MikkoVirtanen Hanna
Summary A common starting point in understanding investments in learning is that people participate in education when the life-cycle
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
Academic Publications

Assessing Early Labour Market Effects of Generative AI: Evidence from Population Data

Kauhanen AnttiRouvinen Petri
We use data covering all wage earners from Finland to study the impact of generative artificial intelligence (GAI) on

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