Nonstationary time series arising from autoregressice models with roots on or near the unit circle have been an intensive subject of econometric reseach during the last twenty years. Heikki Kauppi's doctoral dissertation deals with several topics in the area of theoretical econometrics of...

Recent European data indicate that countries where a large proportion of the population lives in owner-occupied housing are experiencing higher unemployment rates than countries where the majority of people live in private rental housing, which might suggest that rental housing enhances labor...

This paper uses the Kreps-Porteus-Selden non-expected utility approach to study the effects of biological uncertainty on harvesting behavior when forest owners have preferences over harvest revenue and amenity services of forest stands.

We consider a firm that is subject to employment protection laws that limit the firm's ability to fire labor. In particular, we suppose that though a firm which shuts down can fire all its workers, it may fire no fewer. Compared to a firm that is subject to no employment protection, a firm...

The paper shows that labor market institutions are important for the formation of new enterprises. The effects of labor market institutions on entrepreneurship, wage determination, and firm size are analysed analytically and illustrated numerically. The main result is that an increase in union...

The performance of the institutional structure protecting intellectual property is a matter of deep concern in determining economic well-being. Unfortunately, economic theory has been of little help in providing straightforward advice for policy-makers, the range of contradictory results...

We build a model where the occupational choice of programmers determines the quality of programs in the consumer market. A monopolist, supplying the consumer market, has to take into account the impact the free software has on the market. When software implementation costs are low the monopolist...

These lecture notes have been prepared as a preliminary material for the first year graduate students attending the ocre macro course in the Finnish Postgraduate Programme in Economics. The notes should make it easier for students to acquaint themselves with the overlapping generations models in...

This paper analyzes the design of agri-environmental policy, when the available instruments are simultaneously chosen so as to maximize society's target function. The instruments to be analyzed include the acreage subsidy targeting income support, the fertilizer tax, and the buffer-strip subsidy...

This paper employs a distribution-free statistical test suitable for comparisons based on dependent samples to analyse changes in health care financing distributions on Finnish data.