I calibrate the switching cost for the Finnish retail deposit market by using the approach developed by Oz Shy (2002). It turns out that switching costs faced by deposit customers of the main Finnish banks manifest large variation and are high, ranging from 200 euros to nearly 1,400 euros. Over...

Economic interest in innovation policy largely arises from the fundamental importance of innovation to social welfare and from well-known inefficiencies in innovation in a competitive market environment. As a result, a wide variety of public innovation policies are used in practice. This report...