A Central Counterparty (CCP) is an entity that interposes itself between transacting counterparties – a seller vis-à-vis the original buyer and a buyer vis-à-vis the original seller – to guarantee execution of the transaction. Thus, the original transacting parties substitute their...

The project to build up a banking union in Europe was launched in summer 2012. Thereafter the progress has been fast. Single Supervisory Mechanism will embark on November 1, 2014. A decision on the Single Resolution Mechanism was made in Spring 2014. It should be up and running as of the...

This paper discusses the Finnish experiences of Active Labour Market Policy (ALMP) across the economic cycle, especially in economic downturn. Cuts in unemployment spell duration have been the main factors to contribute in decreasing the unemployment in the recent years. Subsidised employment...

Elderly people could markedly increase they standard of living by releasing their housing equity. Purchase of a single-payment life annuity would increase the benefits of this release. The tax treatment of these annuities is, however, very strict in Finland, because both yield and capital are...

We study the extent to which retired households in Finland could supplement their mandatory pension benefits by releasing their equity. We also consider the tax treatment of different financial products that turn wealth into an income stream. In addition, we use a life cycle consumption-savings...

Many elderly people in Finland could increase they standard of living and receive more freedom of choice regarding long-term care by releasing part of their housing equity. The possibility to purchase reasonably priced life annuities and long-term care insurance would increase the benefits of...

This report employs individual-level register data to study the coverage and amounts of voluntary term life insurances, the monetary losses following from the death of a breadwinner, and the life insurance gap arising as the difference of the two. The data include information on the life...

Tarkastelemme yksityistä eläkesäästämistä Suomessa. Luotaamme tulevaisuutta arvioimalla miten lakisääteisen eläketurvan muuttuminen ja eliniän piteneminen vaikuttavat yksityisen eläkesäästämisen tarpeeseen. Tarkastelemme asiaa nuorten, hiljattain työelämään astuneiden...

We study the extent to which retired households in Finland could supplement their mandatory pension benefits by releasing their equity. We also consider the tax treatment of different financial products that turn wealth into an income stream. In addition, we use a life cycle consumption-savings...

Many elderly people in Finland could increase they standard of living and receive more freedom of choice regarding long-term care by releasing part of their housing equity. The possibility to purchase reasonably priced life annuities and long-term care insurance would increase the benefits of...