Forest carbon sinks have been included in the Kyoto Protocol as one of the mechanisms for mitigating climate change. Consequently, credited sinks decrease the need to reduce emissions.We analyse in detail both the economywide and the sectoral effects of inclusion of carbon sinks as agreed upon...

Increasing scarcity of oil reserves and the high CO2 emissions from using oil have contributed to the development of renewable biofuels. Pulp and paper mill integrated forest biorefineries offer one important means to increase biofuel production. This study analyzes the effects of policies to...

We use a joint production model of timber production and carbon sequestration to analyse the financially optimum silvicultural strategies and the costs of carbon sequestration for Scots pine at the stand level in Finland based on individual-tree growth models. This study expands the earlier...

The study concerns an assessment of the effectiveness of car purchase tax differentiation according to the CO2-emission performance of newly sold cars as implemented in Finland. This policy instrument came into force as of 1 January 2008. The effectiveness of the instrument is assessed by means...

This study examines the extent of direct tax avoidance through income-shifting between wages and dividends, and approximates the deadweight loss due to this behavior for the owners of privately held corporations. The dual income tax system in Finland offers noticeable incentives for...

Computable general equilibrium (CGE) models require external parameters for proper estimations and can be relatively sensitive to the elasticity estimates used in them. We estimate LES demand elasticities and Frisch parameters for all Finnish household income deciles. These estimates will be...

This paper uses extensive Finnish panel data from 1995?2007 to analyze the elasticity of taxable income (ETI). I use individual changes in flat municipal income tax rates as an instrument for the overall changes in marginal tax rates. This instrument is not a function of individual income, which...

This paper studies the impact of increased price information on the functioning of the housing market. We first study the implications of new information for market outcomes in a theoretical framework so as to disentangle the potential channels through which information may be important. The...