Euro Area member states have agreed to introduce a structural budget balance target to their national legislation (Treaty on Stability, Coordination and Governance). However, there exists no commonly agreed methodology to calculate this macroeconomic indicator. This report presents the...

According to recent law and finance research, legislation is essential to financial development. More effi-cient financial markets would be achieved by reforming the laws governing investor protection and cor-porate governance systems. The Companies Act has traditionally played a very important...

We study the effects of compulsory military service in Finland on the conscripts' future labour market behaviour. This is measured in three ways: first, the time it takes to complete civil education and the level of education acquired; second, how the conscripts will find employment; and third,...

This paper reviews the theoretical and empirical literature on job market signalling and on education as a job market signal. Possible economic implications of educational job market signalling to an individual and the society are represented based on existing theories. The paper also reviews...

We study the effects of compulsory military service in Finland on the conscripts' future labour market behaviour. This is measured in three ways: first, the time it takes to complete civil education and the level of education acquired; second, how the conscripts will find employment; and third,...