This report gives an overview of the implications of electricity market liberalisation, with special reference to the Nordic market and Finland. The principal focus is on the functioning of the wholesale (generation) and retail (endusers) markets. Furthermore, the handling of risks and the...

This study represents the results of a comparative econometric analysis of the determinants of earnings and unemployment durations. The analysis uses two sets of panel data, one drawn from the outflows of unemployment and another from the working age population. The earnings of people leaving...

This paper presents a model where the central government cannot ensure that regional governments manage risks prudentially, due to soft budget constraint. Competition for project funding induces the regional governments use financial instruments as commitment devices as a signal of prudential...

We study the earnings losses of Finnish private sector workers who lost their jobs at two very different points in the business cycle. The first group was displaced in 1992 (depression period) and the second one in 1997 (recovery period). The focal point of the analysis is the quantile...

This study analyses the evolution of wages and occupational composition of labour over three centuries, from 1755 to 1914, using worker-workplace data. The data from one industry offers a unique view on long-term trends in skill composition, wage inequality and occupational wage premiums. A...

Applied general equilibrium models have become a standard tool for the analysis of structural policies in many countries and international research organisations. Their use has been prompted by both developments in economics, but also on the growing need for quantitative policy analysis. The...

Low aggregate investment in Finland has been argued to merely reflect structural change to an innovation economy, with high R&D levels adequately compensating for reduced physical investment. This paper briefly reviews the issues and discusses the severity and persistence of the shortage....

We analyze the impact of multinational and foreign ownership on the demand for job tasks and educational skills. By using Swedish matched employer-employee data, we find that both foreign and domestic multinational firms have high shares of non-routine tasks and tasks requiring personal...