This paper deals with the incidence of housing subsidies, which we analyze using Finnish panel data. The main data set includes 50,000 households that received housing allowances during the period 2000–2008. In addition, we utilize repeated cross-sections of all Finnish households for...

This paper presents new evidence on the importance of financial innovations for the demand for currency. We use Finnish data on credit card transactions to estimate a currency demand equation which fits the data very well, implies meaningful elasticities and does not suffer from obvious...

This paper develops a model of the relationship between public sector employment, total output and aggregate real demand in market prices, where public employment has a positive productivity effect on private output. Public employment crowds out private employment and output because its increase...