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...

The share of bus transport of total passenger transport (as a percentage of total inland passenger-kilometres) is slightly above EU average in Finland. Buses account for around 10% of total passenger transport, compared with the EU average of 9% in 2011. The share of rail in total passenger...

Working while studying at university increases the time-to-degree and may interfere with learning, but the acquired work experience may also improve employment opportunities and increase wages after the graduation. This study examines how university students' employment decisions affect their...

Dual income tax systems have become increasingly popular; yet, relatively little is <p> known about the consequences of implementing such tax systems. This paper uses a representative panel of taxpayers from the 1993 Finnish tax reform to measure how overall taxable income and the relative shares...</p>

In this paper we evaluate the changes in the times-to-degree at the Finnish universities in the 1990s. In particular, we evaluate the effect of the 1992 student aid reform that was intended to shorten the duration of university studies. We find that the student aid reform had only a modest...

Do governments increase public employment in election years? This paper investigates this question by using data from Sweden and Finland, two coun¬tries that are similar in many respects but in which local elections are held at different points in time. We can thereby separate an election...

This paper analyzes the economic effects of different income splitting rules for closely held corporations and sole proprietorships/partnerships in a tax system with a dual income tax. We conclude that the tax rules for closed corporations offer roughly the same cost of capital as for widely...

The study examines which factors predict academic performance at university and compares the predictive values of subject-related entrance exams and indicators of past school performance. The results show that in the fields of engineering and social sciences entrance exams predict both...

This paper presents a model yielding testable implications concerning the long-run co-movements of real exchange rates, relative productivity, the trade balance and terms of trade. Countries with higher productivity, trade deficits or improved terms of trade are found to have more appreciated...

Cyclically adjusted budget balance (CAB) is a widely cited and widely used concept in the evaluation of fiscal situations. The key idea behind it involves the identification of potential levels of economic variables. There are two recently used methods: the aggregate approach and the...