We study uniform price auctions using a dataset which includes individual bidders' demand schedules in Finnish Treasury auctions during the period 1992-99. Average underpricing amounts to .041% of face value. Theory suggests that underpricing may result from monopsonistic market power. We...

We examine the dynamics of bank lending to the private sector for countries of the Euro area by applying a Markov switching error correction model.We identify for Belgium, Germany, Ireland and Portugal stable, mean reverting regimes and unstable regimes with no tendency to return to the long...

This paper studies how changes in the complexity of the firms' production technologies affect wage differences between and within tasks. In a production process where tasks are complementary, the employer may have an incentive to pay higher wages when using more complex technologies because the...

Using Finnish panel data, we study how entrepreneurs differ from workers in education and income dynamics. We find that workers have higher median income in all educational groups. Without additional controls, entrepreneurs have higher average income with all but undergraduate level of...

This paper studies gender differences in the allocation of workers across jobs of different complexity using panel data on Finnish metalworkers. These data provide a measure for the complexity of the workers' tasks that can be used to construct a complexity ladder of jobs. We study whether women...

In this paper we analyse with the PISA data on literacy achievement of fifteen-year-old pupils in six member countries of the OECD, whether the fact of having many siblings affects the individual educational outcome. The hypothesis that we test is whether parents? resources matter for...

In the past decade, the European agricultural sector has undergone rapid structural change. Part of that change is manifested in extended early retirement plans. As pensions play a crucial role in determining the characteristics the change, it is important to establish the factors determining...

We address the impact of education upon wage inequality by drawing on evidence from fifteen European countries, during a period ranging between 1980 and 1995. We focus on within-educational-levels wage inequality by estimating quantile regressions of Mincer equations and analysing the...

This study investigates the role of factors that determine individual employees? and firms? participation in profit sharing schemes. Using a large panel data of Finnish employees for the period 1996-2000 we analyse individual and workplace characteristics that make firms employ profit sharing...

Using register-based panel data covering all Finnish firms in 1999-2004, we examine how corporations anticipated the 2005 dividend tax increase via changes in their dividend and investment policies. The Finnish capital and corporate income tax reform of 2005 creates a useful opportunity to...