The purpose of this paper is to estimate the impact of capitalising durable goods on the Euro area (EA) countries? and the EA-aggregate?s household saving ratios and disposable incomes. The reason for this exercise is twofold. Firstly, it is generally accepted that individual households regard...

The diffusion of two general purpose technologies, electricity and ICT, in the Finnish manufacturing industry is observed. The full diffusion of electricity as motive power in the 1920s and 1930s led to a step-up of nearly 4 percentage points in manufacturing LP. Furthermore, all industries...

Finnish value added per hour in 1997 was lower than it was in EU15, the US, Germany and Sweden. In manufacturing and in five of its sub-industries, as well as in construction and wholesale the Finnish level of labour productivity was higher than in the aforementioned countries. Finnish labour...