This paper analyzes the macroeconomic impact of Generative Artificial Intelligence (GenAI) on the Finnish economy, integrating recent literature and empirical evidence into a quantitative multi-sector general equilibrium model. The results indicate that, over a ten-year horizon, GenAI adoption...

We examine value chain productivity within the EU15 from 1995 to 2017; a period marked by growth and its subsequent slowdown following the 2008 Financial Crisis. Using data on global value chains from the new OECD Inter-Country Input-Output Tables and KLEMS data, we construct a measure of total...

The EU's Emission Trading Scheme (EU ETS) has been shown to have reduced emissions in the participating countries and industries since its adoption in 2005. However, there is less evidence on the shifting of production outside EU to avoid emission controls. We study this so-called carbon leakage...

Preparing for the monetary loss associated with premature death of the breadwinner has become more relevant during the COVID-19 pandemic. However, very little is known about how much of the financial vulnerabilities are covered by the life insurance holdings in different population groups. We...

In this paper, we shed new light on the productivity impact of breakthrough patents, as well as their role in the variability of productivity across countries. We use text analysis and machine learning-based estimates of the number of breakthrough patents and show that there was a significant...

In recent years, many countries have sought to transform their fiscal frameworks, with the aim of rendering their public finances more sustainable and preventing the emergence of fiscal problems. This report presents the findings of comparative research into the fiscal frameworks of five...

This paper studies the life insurance demand responses to Covid-19 pandemic. It employs the unique individual-level daily data on new term life insurances together with both geographical and timely variation in the severity of the pandemic in Finland. These data are merged with the high-quality...