Haku
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A monopoly union model of wage determination with taxes and endogenous capital stock : an empirical application to the finnish manufacturing industry
(21.11.1990)
Bank of Finland Research Discussion Papers 24/1990
Bank of Finland Research Discussion Papers 24/1990
The paper formulates a model of wage determination in accordance with the notion of a monopoly union determining wages after which the firm decides on employment. The novelty is to incorporate investment and capital decisions ...
Extreme events and optimal monetary policy
(06.02.2018)
Bank of Finland Research Discussion Papers 4/2018
Bank of Finland Research Discussion Papers 4/2018
This paper studies the implication of extreme shocks for monetary policy. The analysis is based on a small-scale New Keynesian model with sticky prices and wages where shocks are drawn from asymmetric Generalized Extreme ...
Labour supply, wages and prices in the BOF4 quarterly model of the Finnish economy
(20.01.1989)
Bank of Finland Research Discussion Papers 6/1989
Bank of Finland Research Discussion Papers 6/1989
This paper describes the supply of labour and the determination of wages and prices in the BOF4 model. Labour supply is modelled as a function of real wage, income and discouraged worker effects. Wages are a functi on of ...
Wage setting, taxes and demand for labour : Multivariate analysis of the cointegration relations
(01.09.1992)
Bank of Finland Research Discussion Papers 22/1992
Bank of Finland Research Discussion Papers 22/1992
As an outcome of modelling wage setting and demand for labour in a bargaining framework, a lO-dimensional vector space is defined. This overparametrized system is reduced by means of conditioning. Structural restrictions ...
Tax incidence in union models
(02.09.1992)
Bank of Finland Research Discussion Papers 23/1992
Bank of Finland Research Discussion Papers 23/1992
This paper consideres three union inodels with alternative specifications of union preferences. We examine the effects of four tax parameters of interest on both wages and employment.
The main results are as follows. ...