EIOPA has recently proposed to introduce standardized pan European personal pension products (PEPPs) that would be available in the accumulation phase, jointly with national personal pension plans. This paper analyzes the PEPPs from the perspective of the academic literature and proposes to use...

​We study the interaction of matching and credit frictions in the housing market. In the model, risk-averse households may save or borrow in order to smooth consumption over time and finance owner housing. Prospective sellers and buyers meet randomly and bargain over the price. We analyze how...

We present a framework for studying the relation between the distributions of income and house prices that is based on an assignment model where households are heterogeneous by incomes and houses by quality. Each household owns one house and wishes to live in one house; thus everyone is...

We study old age care expenditures and means to prepare for them. The expected size of the expenditures is described both from the point of view of individuals and the municipalities who provide the services. We use a numerical stochastic life cycle model to research how much various individuals...

The earnings-related pension system is partially pre-funded in Finland and has currently large reserves. This has roused debate whether the pension funds should take a more active role in promoting employment, growth and domestic ownership of the firms. We analyse the justifications presented...