The new EU fiscal framework builds on several overlapping target measures and convergence rules. Thus, it is not clear how strict goals the framework sets for public finances. In this paper we build a simulation framework that solves the minimum fiscal effort under different assumptions on the...

This paper reconsiders the reasons for the Finnish Great Depression.The paper argues that during the crisis Finland experienced institutional adjustments that are largely neglected by the current literature, and argues that both financial and tax shocks may have contributed to the crisis more...

In this paper, we quantify time-varying fiscal multipliers using Finnish economic data and address questions about the design of the fiscal adjustment currently needed to comply with the EU's fiscal targets. We find that the necessary adjustment is likely to be larger than what is proposed in...

We quantify the impact of old-age retirement on health using longitudinal Finnish register data for the period 2000–2012, which allows for a strict isolation of the effects of transition from work to retirement for both mental and physical health indicators. We use the lowest statutory...

In this report, we analyze the Finnish R&D tax incentive scheme of the years 2013 and 2014. Under the scheme, firms were eligible for double corporate tax deduction incentive on labor expenses incurred for undertaking R&D activities. Our report consists of a literature review, an empirical...