Most of the empirical literature on consumption behaviour over the last decades has focused on estimating Euler equations. However, there is now consensus that data-related problems make this approach unfruitful, especially for answering policy relevant issues. Alternatively, many papers have...

This paper gives a short overview of how inflation expectations are measured in Finland and considers the possibilities of using such data to predict actual inflation. In Finland, there are three regularly published surveys, which include questions on ex post perceptions and/or ex ante...

The purpose of this study is to examine the relationship between import prices and exchange rates in Finland.The concept of pass-through is associated with how prices of internationally traded goods are affected by changes in exchange rates. Pass-through is said to be complete when the exporter...

In this paper a simple and transparent macroeconomic model is developed for the evaluation of alternative macroeconomic scenarios.With the help of the model it is evaluated how fast economic growth and what kind of structure of demand and supply is needed in order to reduce unemployment to 200...

It is well known that estimation of the labour supply function is complicated by the non-linearity of the individual s budget constraint.Non-linearity may be caused by a number of factors such as the structure of the tax/benefit scheme or overtime rates. Non-linearities also cause problems in...

The Global Repository of Income Dynamics (GRID) is a new open-access, cross- country database that contains a wide range of micro statistics on income in- equality, dynamics, and mobility. It has four key characteristics: it is built on micro panel data drawn from administrative records; it...

This paper summarizes statistics on the key aspects of the distribution of earnings levels and earnings changes using administrative (social security) data from Italy between 1985 and 2016. During the time covered by our data, earnings inequality and earnings volatility increased, while earnings...

We specify a structural life-cycle model of consumption, labour supply and job mobility in an economy with search frictions that allows us to distinguish between different sources of risk and to estimate their effects. The sources of risk are shocks to productivity, job destruction, the process...

This paper provides a life-cycle framework for weighing up the insurance value of disability benefi ts against the incentive cost. Within this framework, we estimate the life-cycle risks that individuals face in the US, as well as the parameters governing the disability insurance program, using...

We specify a structural life-cycle model of consumption, labour supply and job mobility in an economy with search frictions that allows us to distinguish between different sources of risk and to estimate their effects. The sources of risk are shocks to productivity, job destruction, the process...