There are different academic assessments as to what lies behind Russia’s GDP growth: total factor productivity or fixed capital investments. Studies that reconstruct capital stocks for Russia using gross fixed capital formation and the perpetual inventory method tend to lean towards the former...

We analyse the Sigma convergence (standard deviation divided by average) of purchasing power adjusted GDP per capita and GDP per hour worked in the European Union. We also link the development in income distribution as measured by Gini coefficients to convergence. With short pauses, there has...

We analyse the degree of EU countries’ specialisation in their exports and manufacturing value added using the Herfindahl-Hirschmann index and the degree of structural similarity using the similarity index developed by Finger and Kreinin (1979). We also analyse the convergence of GDP growth...

Specifying a structurally built NKM model for EMU, and identifying in it the determinants of the potential output and the short-run cyclical factors, we consider structural reforms and monetary and fiscal policies in the euro area. Especially, we analyse whether structural reforms are...

We consider a reform that would replace the current Finnish unemployment insurance (UI) scheme with individual unemployment accounts. The reform would provide additional pensions for individuals who end up with a positive account balance at retirement age without restricting unemployment...

Our data from 351 innovating firms for the years 2001–2012 generally suggest that patentable ideas are strongly linked to the mobility of individual inventors, or that the knowledge flows transmitted are sticky inventor-specific. In other words, the larger the knowledge pool of an inventor...

Abstract: We propose an approach for measuring and analyzing the dynamics of standard aggregate wage growth of macro statistics with micro-data. Our method decomposes aggregate wage growth to the wage growth of job stayers and to various terms related to job and worker restructuring. This method...

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...

Our panel data from over 10,000 Finnish firms during the years 2003-2010 sheds light on the effect of different business subsidies on firm productivity performance and on the relationship between firms’ lagged labor productivity and market exit. We find that not any of the subsidy types have...

Abstract:This paper uses longitudinal linked employer-employee data to study how firms’ offshoring decisions affect labor market mobility and the wage growth of their employees. The results show that offshoring affects mobility primarily in occupations that are easily offshored. Wage growth,...