Haku

Stagnation as the new norm and fiscal policy are examined in a New Keynesian model with adaptive learning determining expectations. We impose inflation and consumption lower bounds, which can be relevant when agents are ...

We show investors tend to hold the same securities as their parents. This intergenerational correlation is stronger for mothers and family members who are more likely to communicate with each other. An instrumental variables ...

In developed economies, the recovery from the financial crisis has been exceptionally arduous and productivity development in particular has been very subdued. Speculation has abounded as to whether economic growth will ...

The European Systemic Risk Board (ESRB), which is responsible for macroprudential oversight of the EU’s financial system, has issued a warning to Finland concerning the medium-term vulnerabilities related to household ...

Bolstering the supply of labour has long been one of the most important objectives of economic policy in Finland. The impact of policy measures is typically greatest in those population groups who have available alternatives ...

The expanded asset purchase programme (EAPP) has had a significant positive impact on macroeconomic developments in Finland. The ECB’s decisions of December 2015 and March 2016 are forecast to boost Finland’s GDP by ...

Finland's fiscal situation is challenging. The general government deficit is still high, and public debt is on an upward trend. Attainment of more balanced public finances is hampered not only by high unemployment-related ...

Despite the recent weakness in profitability, operating profits in Finnish manufacturing have generally developed steadily. After the electronic and electrical industry, the chemical industry, particularly the pharmaceutical ...

Of the various factors of uncertainty surrounding the international economic outlook at the present time, a substantial proportion relates to policy choices. Much expectation focuses on US economic policy in the immediate ...