Honkapohja, Seppo; Koskela, Erkki - In: Economic Policy 14 (1999) 29, pp. 399-436
"In the 1990s, Finland underwent a deep depression as its GDP dropped about 14% and unemployment rose from 3 to almost 20%. This is a story of bad luck and bad policies. Bad luck took the form of external shocks: the collapse of trade with the former Soviet Union in 1991, but also sharp cycles...