WILBERT

Wildauer Bücher+E-Medien Recherche-Tool

Your email was sent successfully. Check your inbox.

An error occurred while sending the email. Please try again.

Proceed reservation?

Export
Filter
  • Finnish  (227)
Collection
Language
Years
  • 1
    facet.materialart.
    facet.materialart.
    Helsinki: The Research Institute of the Finnish Economy (ETLA)
    Publication Date: 2019-08-03
    Description: The aim of this paper is to broaden the knowledge concerning the development of Finnish firms’ innovation activities. The results show that during 2008–2017 the share of overseas R&D has risen. Currently, 14–25% of Finnish firms’ total R&D are conducted overseas. If Nokia is taken into account, the share of overseas R&D rises to 53–65%. Furthermore, the results suggest that Finnish firms invest approximately Eur 1.8 billion in innovation activities outside the traditional R&D definition.
    Keywords: O31 ; O32 ; ddc:330 ; Research ; Development ; R&D ; Company ; BERD ; Internationalization ; Globalisation ; Innovation ; Finnland
    Language: Finnish
    Type: doc-type:report
    Location Call Number Limitation Availability
    BibTip Others were also interested in ...
  • 2
    facet.materialart.
    facet.materialart.
    Helsinki: The Research Institute of the Finnish Economy (ETLA)
    Publication Date: 2019-08-03
    Description: We study the use of pension funds in the Finnish earnings-related pension system with the aim of smoothing contributions over time under demographic and economic risks. Smoothing is affected by the revisions in long-term forecasts and is thus imperfect. As a partially funded defined-benefit system, demographic risks and asset yield risks directly affect the contributions. In a general equilibrium setup, these risks also affect wages and thus pension benefits and replacement rates. We also consider alternative benefit rules where risks are transferred more to the pensioners.
    Keywords: E17 ; H55 ; ddc:330 ; Pensions ; Funding ; Contribution smoothing ; Risks ; Generational fairness
    Language: Finnish
    Type: doc-type:report
    Location Call Number Limitation Availability
    BibTip Others were also interested in ...
  • 3
    facet.materialart.
    facet.materialart.
    Helsinki: The Research Institute of the Finnish Economy (ETLA)
    Publication Date: 2019-08-03
    Description: We examine the growth of real value added, labour input and labour productivity of immigrant-owned firms in Finland in 2007–2016. In our analysis we use the so-called FLOWN (Finnish Longitudinal OWNer-Employer-Employee) data by Statistics Finland that allows linking register information on firms, their owners and employees. As immigrant-owned firms account for a few percent of all firms and about one percent of all labour in the business sector, their contribution to the growth of output and employment must be limited. However, the growth rate of their real value added is markedly stronger than in other firm groups. Their job creation rates are exceptionally high but their job destruction rates are, however, about the same magnitude as in the indigenous-owned firms. The immigrant-owned firms have created a relatively large amount of low productivity and low wage jobs. On an average, their wage growth has been somewhat higher than in other firms, but pro-cyclical variation of wages has been stronger.
    Keywords: J15 ; J21 ; J24 ; E24 ; ddc:330 ; Immigrants ; Output growth ; Employment growth ; Productivity growth ; Creative destruction
    Language: Finnish
    Type: doc-type:report
    Location Call Number Limitation Availability
    BibTip Others were also interested in ...
  • 4
    facet.materialart.
    facet.materialart.
    Helsinki: The Research Institute of the Finnish Economy (ETLA)
    Publication Date: 2019-08-03
    Description: In Finland, universities have the explicit mandate to support the transformation of high-quality knowledge into profitable business, as well as to promote the creation of new businesses and workplaces within the boundaries of their so-called third mission. This report looks at how Finnish universities perform in the task. The results point at a clear lack of dedicated resources. The underlying reason is systemic: performance is not linked to incentives in the form of public university funding. Currently, resources for the implementation of the third mission are largely obtained via competition from external sources, endangering the continuity of the technology transfer function and creating disincentives to invest in its development. The lack of incentives is echoed among researchers: Nearly half of the scientists who, according to their own view, have made economically valuable findings state they do not find the time to promote their exploitation. The report proposes several remedies: (1) the performance of universities in their third mission needs to be metered. (2) These metrics need to be linked to earmarked public university funding; (3) Individual-level metrics concerning the exploitation of their findings should encourage researchers and promote their academic careers. In order to support more rapid cultural change, universities could (4) recruit professors directly from the business world; and (5) set up cooperative, joint laboratories with industry in their respective strategic research areas.
    Keywords: O31 ; O32 ; O33 ; O38 ; O43 ; O52 ; D02 ; I23 ; I25 ; I26 ; I28 ; ddc:330 ; Technology transfer ; Third mission ; Commercialization ; University ; Higher education ; Hochschule ; Technologietransfer ; Kommerzialisierung ; Bewertung ; Finnland
    Language: Finnish
    Type: doc-type:report
    Location Call Number Limitation Availability
    BibTip Others were also interested in ...
  • 5
    facet.materialart.
    facet.materialart.
    Helsinki: The Research Institute of the Finnish Economy (ETLA)
    Publication Date: 2019-08-03
    Description: In the report we analyse the reasons for the weakness of Finland’s economic performance over the past decade and assess the growth prospects in the coming 5 years. The weakness of Finland’s performance relative to comparative EU-countries since 2009 can largely be explained by the collapse of Nokia’s production and the deterioration of cost competitiveness. The recovery in turn stems from a stronger export market growth, the fading away of the negative Nokia shock, and the improvement of cost competitiveness. Of the rise of employment by some 100 000 jobs since 2015 about half can be explained by a number of policy measures to increase labour supply and the so-called competitiveness pact. Based on a realistic assumption on productivity growth, we estimate that Finland could achieve an annual growth rate of about 2 per cent in the coming 5 years. This requires, nevertheless, that the employment rate increases by 2023 to the level reached by comparative countries. Although such a change would not be greater than what is taking place during the current government period, ambitious reforms are needed to achieve this.
    Keywords: E37 ; E61 ; E62 ; F10 ; J11 ; J20 ; O11 ; ddc:330 ; Growth ; Employment ; Productivity ; Labour supply ; Competitiveness ; Finland’s economy ; Wirtschaftswachstum ; Produktivitätsentwicklung ; Arbeitsangebot ; Internationaler Wettbewerb ; Finnland
    Language: Finnish
    Type: doc-type:report
    Location Call Number Limitation Availability
    BibTip Others were also interested in ...
  • 6
    facet.materialart.
    facet.materialart.
    Helsinki: The Research Institute of the Finnish Economy (ETLA)
    Publication Date: 2019-08-03
    Description: Banking and financial services have traditionally been a heavily regulated industry where technology alone has not been a sufficient factor to transform the operating architectures of the industry. The pervasive view in the financial industry has been that digitalization and its integrational development will take place on the platforms of the banks. Due to the inherent secondary nature of financial services, however, it is more likely that the customer interface of financial services will increasingly migrate towards primary service platforms. As a result, the commoditization of payment processing services is expected to increase. Additionally, the visibility into customer data will become more opaque and the value capturing capabilities of the financial industry will be radically redefined. Furthermore, a strategic impact can also be anticipated on several public institutions, such as financial supervisory authorities, the tax administration and other public registry holders.
    Keywords: G2 ; L2 ; L22 ; ddc:330 ; Platform: embedded banking ; Distributed banking ; Open banking ; Platform ; Distributed ledgers ; Blockchain ; FinTech ; Bank ; Finanzdienstleistung ; Digitalisierung ; Branchenentwicklung
    Language: Finnish
    Type: doc-type:report
    Location Call Number Limitation Availability
    BibTip Others were also interested in ...
  • 7
    facet.materialart.
    facet.materialart.
    Helsinki: The Research Institute of the Finnish Economy (ETLA)
    Publication Date: 2019-08-03
    Description: We characterize increases and decreases in plant-product -level output sales in the Finnish manufacturing sector during years 2006 to 2015. We show that during the recession of 2008 to 2009, the intensity of variation in plant-product -level sales diminished, and it took several years until the intensity of variation reached its pre-recession level. However in 2015 the intensity of variation was largest since 2006. We also decompose the changes in the plant-product -level output sales into changes in volume and changes in price.
    Keywords: L11 ; L23 ; L25 ; L60 ; O12 ; ddc:330 ; Production ; Renewal of product structures ; Measurement of prices and quantities ; Manufacturing ; Diversifikation ; Industrie ; Finnland
    Language: Finnish
    Type: doc-type:report
    Location Call Number Limitation Availability
    BibTip Others were also interested in ...
  • 8
    facet.materialart.
    facet.materialart.
    Helsinki: The Research Institute of the Finnish Economy (ETLA)
    Publication Date: 2019-08-03
    Description: In this report, we re-assess the role of so-called job banks as mediators into the open labour market but also as employers of unemployed job-seekers. The focus is primarily on the unemployed who became job bank clients during 2013. We follow up the labour market situation of these individuals during one year’s timeahead, until the end of 2014. In the latter part of the report, we compare the main findings to those obtained for the unemployed having re-entered the labour market with the help of a job bank either in 2011 or 2012. We present two different sets of results concerning individuals’ near-future labour market experiences. The first set illustrates the development of their employment situation more generally both before and after employment via a job bank while the second set reports results obtained from using statistical evaluation methods. The results indicate that the labour market prospects of those having been employed via a job bank have, on average, been clearly better than for identical unemployed persons who did not use the services of a job bank. Moreover, those employed via a job bank often also seem to have faced better opportunities to stay employed. The results are the same irrespective of whether or not the job bank client‘s employment involves wage subsidies.
    Keywords: I38 ; J64 ; ddc:330 ; Job bank ; Employability ; Employment ; Active labour market policies ; Impact ; Evaluation ; Subsidies ; Youth ; Arbeitsvermittlung ; Arbeitsmarktintegration ; Aktivierende Arbeitsmarktpolitik ; Wirkungsanalyse ; Finnland
    Language: Finnish
    Type: doc-type:report
    Location Call Number Limitation Availability
    BibTip Others were also interested in ...
  • 9
    facet.materialart.
    facet.materialart.
    Helsinki: The Research Institute of the Finnish Economy (ETLA)
    Publication Date: 2019-08-03
    Description: International literature suggests that productivity growth of the global frontier firms – those in the best five percent – has diverged from the others during the 2000s. We study this issue using Finnish firm-level data. We find that the productivity of the Finnish frontier firms does not diverge from the others to such a degree as in the international comparisons. The findings do not provide clear evidence of a slowdown in the diffusion process. We also analyze whether frontier firms are associated with characteristics related to digitalization – and do not find clear evidence of that either. This might be related to the fact that the employed measures are related to technology adoption – not to the creativity or efficiency of its use.
    Keywords: D22 ; O30 ; O40 ; ddc:330 ; Productivity ; Divergence ; Diffusion ; Ddigitalization ; Finland ; Produktivität ; Betriebsgröße ; Unternehmen ; Computerunterstützung ; Automatisierung ; Finnland
    Language: Finnish
    Type: doc-type:report
    Location Call Number Limitation Availability
    BibTip Others were also interested in ...
  • 10
    facet.materialart.
    facet.materialart.
    Helsinki: The Research Institute of the Finnish Economy (ETLA)
    Publication Date: 2019-08-03
    Description: This report is a synthesis of the previous literature analyzing the role of different types of companies on economic growth and employment, and an overlook on the impacts of different policy measures on companies. The role of large companies in the economy is still significant, although diminishing. However, the size of a company is nearly always determined at the company level, rather than at the group level, which brings some uncertainty to the interpretation of the results. Majority of the research on public corporate funding concerning Finland focuses on R&D subsidies; there are fewer studies covering other business subsidies and public venture capital investments. R&D subsidies have mostly positive impacts on employment, especially among young and small companies. Impacts on the productivity are, however, uncertain. Cooperation of public and private investors maximizes the impact of public venture capital investments. The other business subsidies may help firms to grow larger but do not improve their productivity.
    Keywords: L25 ; O14 ; O47 ; J21 ; J23 ; ddc:330 ; Growth ; Company ; Employment ; Firm size ; Small ; SME ; Value added ; Productivity ; Forschungsfinanzierung ; Risikokapital ; KMU ; Wirtschaftswachstum ; Erwerbstätigkeit ; Produktivität ; Betriebsgröße ; Finnland
    Language: Finnish
    Type: doc-type:report
    Location Call Number Limitation Availability
    BibTip Others were also interested in ...
  • 11
    facet.materialart.
    facet.materialart.
    Helsinki: The Research Institute of the Finnish Economy (ETLA)
    Publication Date: 2019-08-03
    Description: There is a lack of comprehensive information on the quality of management in Finland as compared to other countries. Funded by the Strategic Research Council, the Skills, Education and the Future of Work research project has started filling this gap. As part of the project, an extensive survey concerning management practices has been implemented for Finnish manufacturing establishments. Its design meticulously follows the Management and Organizational Practices Survey (MOPS), a survey conducted by the US Census Bureau. The United States is a useful benchmark for international comparisons, because its management practices have been recognised as the best in the world in studies that utilise a long-standing survey project called the World Management Survey (WMS). Even though the WMS is an open-ended interview survey, whereas the MOPS is based on closed-ended questions, the two surveys are based on the same theoretical framework. This report introduces the Finnish Management and Organizational Practices (FMOP) survey data and presents some interesting preliminary observations. The FMOP data do not contain establishments that belong to firms with fewer than 50 employees. When calculating averages for Finnish manufacturing, two different imputation methods are used to estimate management scores for these missing establishments: a baseline and a (very) conservative one. Our conservative method provides us with an approximate lower limit for the scores. The analysis reveals large dispersion in management practices between establishments and that the average management score for manufacturing is 0.52, with a lower limit of 0.46. Furthermore, a clear positive connection is found between number of employees and management. Rather than looking at unweighted averages, it is more relevant, in terms of competitiveness, to study how much of the workforce is allocated into well-managed establishments. A decomposition of industry management practices shows that labour is more heavily allocated to larger establishments with higher quality management. The allocation effect is between 29% and 20% of the aggregate (employment weighted) average management score, depending on the imputation method applied. Further analysis shows that, even though the allocation effect is significant in size, it appears to be substantially smaller than in the United States. This reflects the fact that, when compared to Finland, a much larger share of the US workforce is employed by very large, well-managed establishments. The management scores are only slightly behind those of the US and, depending on the imputation method, and either a bit higher than or on par with those of Germany. This suggests that management practices in Finnish manufacturing are on an internationally competitive, high quality level.
    Keywords: L2 ; M2 ; O32 ; O33 ; ddc:330 ; Management practises ; Productivity ; Competitiveness ; Reallocation ; Management ; Produktivität ; Industrie ; Finnland
    Language: Finnish
    Type: doc-type:report
    Location Call Number Limitation Availability
    BibTip Others were also interested in ...
  • 12
    facet.materialart.
    facet.materialart.
    Helsinki: The Research Institute of the Finnish Economy (ETLA)
    Publication Date: 2019-08-03
    Description: In this study we analyse the development of business investments in Finland and in other countries of comparison on the basis of national accounts, survey data and a sector-level general equilibrium model. According to the results, the decline in investments in Finland is mainly explained by two factors: the decrease in the investments in construction and the collapse of the research and development costs of the Nokia cluster. The aggregate production has, however, dropped almost at a corresponding rate with the investments. For this reason, the investment rate of companies is currently almost at the same level as in the years 2000–2008. However, after the financial crisis the development of investment volume has been weaker in Finland than in many other countries. The differences cannot be explained by the availability of debt financing, as access to capital in clearly better in Finland than in most other European countries. The investment rate in Finland is reduced especially by weak future prospects for the growth of productivity. The anticipated decline in the labour force also somewhat hinders the rate of investment. The analyses also show that Finland competes against Estonia for manufacturing investments as well as for headquarter locations. In the long term, the greatest concern is that in industries other than electronics, the Finnish private R&D investments are no higher than the European average. In other words, Finland does not seem to have an especially strong ambition to seek for a competitive advantage in innovations.
    Keywords: E22 ; O34 ; ddc:330 ; Investment ; Business ; Structural change ; Comparison ; Financial constraint ; Investition ; Strukturwandel ; Fremdkapital ; Produktivitätsentwicklung ; Finnland
    Language: Finnish
    Type: doc-type:report
    Location Call Number Limitation Availability
    BibTip Others were also interested in ...
  • 13
    facet.materialart.
    facet.materialart.
    Helsinki: The Research Institute of the Finnish Economy (ETLA)
    Publication Date: 2019-08-03
    Description: About half of all new business activity in Finland can be categorized as being entrepreneurial. The number of this kind of new businesses has not increased dramatically during the last ten years. However, the characteristics of these businesses have changed. Nowadays, new entrepreneurs have higher education background, they have more likely work experience from a relevant field, they are more innovation-oriented, and they have higher initial growth aspirations. Their businesses are more likely to seek sales growth by utilizing international markets and by focusing more on consumer markets and less on business-to-business markets. On the other hand, maybe due to prolonged recession in the Finnish economy, the higher share of new entrepreneurial businesses is being started because there are no better opportunities to get a job. Heavy regulation and tight legislation are being seen as the most significant disincentives at the start-up phase. Growth-oriented new entrepreneurial firms see financial issues and labor market rigidities as significant restrictions for growth.
    Keywords: D92 ; L26 ; L53 ; M13 ; ddc:330 ; Entrepreneurship ; Growth firm ; Start-ups ; Growth-orientation ; Enterprise policy ; Unternehmensgründung ; Entrepreneurship ; Mittelstandspolitik ; Unternehmenswachstum ; Unternehmenserfolg ; Finnland
    Language: Finnish
    Type: doc-type:report
    Location Call Number Limitation Availability
    BibTip Others were also interested in ...
  • 14
    facet.materialart.
    facet.materialart.
    Helsinki: The Research Institute of the Finnish Economy (ETLA)
    Publication Date: 2019-08-03
    Description: We analyse how alternative reforms of the student financial aid would influence average study duration, government expenditures, and tax revenues. We also consider the reform that has been proposed by the current government (in 2016) which consists of lowering the monthly student grant and decreasing the maximum eligibility period while increasing the maximum study grant. Our results are based on a structural model that describes the financial constraints and incentives faced by the students. The model is calibrated with register based panel data on students’ study progress, withdrawal of study grants and student loans, and wage income. According to the results, the reform proposed by the current government will reduce government expenditures on student aid by about 20 percent, which is close to the government’s target. However, the reform is also likely to increase the average study duration. The size of this effect depends on how willing the students are to take student loans.
    Keywords: D14 ; H24 ; J22 ; ddc:330 ; Student financial aid ; Study duration ; Studienfinanzierung ; Studium ; Dauer ; Bildungspolitik ; Wirkungsanalyse ; Finnland
    Language: Finnish
    Type: doc-type:report
    Location Call Number Limitation Availability
    BibTip Others were also interested in ...
  • 15
    facet.materialart.
    facet.materialart.
    Helsinki: The Research Institute of the Finnish Economy (ETLA)
    Publication Date: 2019-08-03
    Description: In this report, we follow up the situation of individuals having re-entered the labour market with the help of a so-called job bank. The follow-up period extends over the next two years after their job-bank-mediated transition into the open labour market. We present two different sets of results concerning individuals’ near-future labour market experiences. The first set illustrates the development of their employment situation more generally while the second set reports results obtained from using statistical evaluation methods. The results show, inter alia, that the labour market prospects of those having been employed via a job bank have, on average, been clearly better than for identical individuals not having used the services of a job bank.
    Keywords: I38 ; J64 ; ddc:330 ; Job bank ; Employability ; Employment ; Active labour market policies ; Impact ; Evaluation ; Arbeitsmarktintegration ; Arbeitsvermittlung ; Erwerbstätigkeit ; Wirkungsanalyse ; Finnland
    Language: Finnish
    Type: doc-type:report
    Location Call Number Limitation Availability
    BibTip Others were also interested in ...
  • 16
    facet.materialart.
    facet.materialart.
    Helsinki: The Research Institute of the Finnish Economy (ETLA)
    Publication Date: 2019-08-03
    Description: In this report, we study the development of Finnish startup firms based on both survey and register data. The sample includes all firms that were founded in the first half of the year 2005, and those firms have been monitored for eight years. We find that entrepreneurs in growth-oriented startups have had typically already some experience from being an entrepreneur or managing business, and have had success in risk-taking activities. Growth-oriented startup firms are in turn more likely to be networked with other firms and institutions, and are already in the startup phase larger than others. Growth-orientation correlates significantly with ex-post growth, but does not boost failure rates. Besides growth-orientation, the larger size of the firm in the startup phase and the limited liability company form correlate significantly positively with ex-post growth.
    Keywords: D92 ; L26 ; L53 ; M13 ; ddc:330 ; Entrepreneurship ; Growth firm ; Start-up ; Enterprise policy ; Entrepreneurship ; Unternehmensgründung ; Strategisches Management ; Unternehmenserfolg ; Finnland
    Language: Finnish
    Type: doc-type:report
    Location Call Number Limitation Availability
    BibTip Others were also interested in ...
  • 17
    facet.materialart.
    facet.materialart.
    Helsinki: The Research Institute of the Finnish Economy (ETLA)
    Publication Date: 2019-08-03
    Description: In this study, we analyze the characteristics and development of Finnish startups based on firm-level data available in public databases. By startups we refer to young, small, and independent firms holding basic elements for growth. Some 4 000–5 000 of such firms are being established annually, of which 6–7% grow to employ at least 10 workers in three years and have had simultaneously increased their employment by at least 20% per annum. About one third of all startups operate in knowledge intensive services and altogether around 70% in services; only few dozen of new startups are in high-tech manufacturing industries. Approximately 70% of startups survive for at least five years. During this period, their employment has on average doubled. The most intensive growth spurt emerges usually in the very first years after establishing the business. Only a few percent of startups get venture capital investments or public innovation subsidies.
    Keywords: D92 ; L26 ; L53 ; M13 ; ddc:330 ; Entrepreneurship ; Growth firm ; Start-up ; Enterprise policy ; Unternehmensgründung ; KMU ; Unternehmenswachstum ; Unternehmenserfolg ; Finnland
    Language: Finnish
    Type: doc-type:report
    Location Call Number Limitation Availability
    BibTip Others were also interested in ...
  • 18
    facet.materialart.
    facet.materialart.
    Helsinki: The Research Institute of the Finnish Economy (ETLA)
    Publication Date: 2019-08-03
    Description: Unlike conventional contracts established through speech, written words, or actions, smart contracts are algorithmic, self-executing and self-enforcing computer programs. In this article, we analyze smart contracts from the perspective of digital platforms and the Finnish contract law. We examine how well the formation mechanisms of the general principles of contract law can be applied to the new technological framework of smart contracts. In addition, the adoptability of smart contracts as a part of our current legislation is evaluated on the basis of this analysis. We find that instead of a clearly defined single use case, smart contracts can be applied in a multitude of different ways, with highly varying goals and circumstances. We conclude that at least in some cases, smart contracts can create legally binding rights and obligations to their parties. The mechanism best suited for describing the formation of a smart contract seems to be analogous to a vending machine where the declaration of intent is implicitly expressed by performing contractual obligations. Contracts have not been formerly percieved as a technical boundary resource in the sense that platform ecosystems could foster broader network effects by opening their technical contracting interfaces to third parties. Smart contracts are an example of the new kinds of technology-enabled contracting practices to which companies and public policy makers should start preparing well ahead of time. However, due to the relative immaturity of the smart contract technology, the number of current real-world applications is still very limited. The evolution of digital platforms requires an approach with a combination of technological, economic and legal perspectives.
    Keywords: K12 ; K19 ; O33 ; O38 ; ddc:330 ; Digital platforms ; Boundary resources ; Blockchain ; Smart contracts ; Internetportal ; Vertragsrecht ; Finnland
    Language: Finnish
    Type: doc-type:report
    Location Call Number Limitation Availability
    BibTip Others were also interested in ...
  • 19
    facet.materialart.
    facet.materialart.
    Helsinki: The Research Institute of the Finnish Economy (ETLA)
    Publication Date: 2019-08-03
    Description: The amount of work done in the economy has been subject to a lot of debate in Finland recently. Unemployment is considered a major problem. On the other hand, extending annual working time receives little support. In fact, a widely held view is that one should reduce the working time of the currently employed so that more people could be employed. The efforts of the Government to increase labour input, i.a. by reducing length of annual leave or the number of banking holidays are widely criticised. In the report we first describe how much work is done in Finland. Secondly, we recall the key messages of economics about the determination of labour input in a market economy. Thirdly, we endeavour to argue why, in the current Finnish circumstances, increasing the amount of work is useful and important, why the idea of work sharing is flawed, and why reducing labour costs makes sense.
    Keywords: J2 ; J3 ; H5 ; E24 ; ddc:330 ; Work ; Labour input ; Employment ; Sustainability of public finances ; Erwerbstätigkeit ; Arbeitskosten ; Öffentliche Finanzen ; Nachhaltigkeit ; Finnland
    Language: Finnish
    Type: doc-type:report
    Location Call Number Limitation Availability
    BibTip Others were also interested in ...
  • 20
    facet.materialart.
    facet.materialart.
    Helsinki: The Research Institute of the Finnish Economy (ETLA)
    Publication Date: 2019-08-03
    Description: 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 analysis of the Finnish register data, and an internet survey. We find that the scheme failed to reach its anticipated impact. The deduction was claimed far less than expected, the actual tax loss being only 8 % of the expected tax loss. Furthermore, our analysis suggests that the R&D tax incentive failed to reach clear, blind spots in the current Finnish, mainly direct-subsidy-based innovation system. Although the scheme’s design does not allow an unambiguous analysis of its impact on the R&D expenditure, our tentative results suggests that its impact remained rather small. The previous, international literature shows that the R&D tax incentives have an increasing effect on the R&D expenditures, but the impact tends not to exceed the amount of the tax subsidy. Based on our results it is unlikely that even a better-designed R&D tax deduction scheme would bring great value-added to the current, Finnish innovation system.
    Keywords: O38 ; H25 ; ddc:330 ; R&D ; Tax credits ; Forschungsfinanzierung ; Steuervergünstigung ; Wirkungsanalyse ; Finnland
    Language: Finnish
    Type: doc-type:report
    Location Call Number Limitation Availability
    BibTip Others were also interested in ...
  • 21
    facet.materialart.
    facet.materialart.
    Helsinki: The Research Institute of the Finnish Economy (ETLA)
    Publication Date: 2019-08-03
    Description: This report examines whether Google search queries can be used to predict the present and the near future house prices in Finland. Compared to a simple benchmark model, Google searches improve the prediction of the present house price index by 7.5 % measured by mean absolute error. In addition, search queries improve the forecast of near future house prices. Predicting the present and near future house prices is relevant information to many agents, such as realtors and political decision makers.
    Keywords: C1 ; C22 ; C43 ; C53 ; C82 ; E27 ; ddc:330 ; Google Trends ; Internet ; Nowcasting ; Forecasting ; Housing market ; Time series ; Prognoseverfahren ; Online-Recherche ; Immobilienpreis ; Zeitreihenanalyse ; Finnland
    Language: Finnish
    Type: doc-type:report
    Location Call Number Limitation Availability
    BibTip Others were also interested in ...
  • 22
    facet.materialart.
    facet.materialart.
    Helsinki: The Research Institute of the Finnish Economy (ETLA)
    Publication Date: 2019-08-03
    Description: This report uses an international input-output dataset to present an analysis of Finland’s position in global value chains. The results show that intermediate products account for a larger share – some three-quarters – of Finnish exports than they do in most other countries. The share of foreign value added in Finnish export production is around the international average, but it has grown more rapidly than average. A higher share of foreign value added means that exports, on average, have less capacity to generate economic growth. The share of domestic value added has fallen particularly sharply in the fuel refining industry as well as in metal processing and the manufacture of metal products. The share of domestic value added has decreased more in Finnish than in Swedish industry. A value added based analysis changes the picture of Finland’s most important trade partners and our international economic dependencies. Based on the analysis Finnish economic growth is heavily dependent on Chinese and US final demand. Over 10% of Finland’s value added exports are ultimately destined for China, and almost the same proportion goes to the United States. However, the combined final demand from EU-28 countries still outweighs the demand from these two countries.
    Keywords: F14 ; F6 ; F62 ; F68 ; ddc:330 ; Globalisation ; Value chain ; Value network ; Global ; Value added ; Intermediate ; Input-output ; Internationale Wirtschaft ; Wertschöpfung ; Internationale Produktion ; Internationale Arbeitsteilung ; Vorleistungen ; Input-Output-Analyse ; Finnland
    Language: Finnish
    Type: doc-type:report
    Location Call Number Limitation Availability
    BibTip Others were also interested in ...
  • 23
    facet.materialart.
    facet.materialart.
    Helsinki: The Research Institute of the Finnish Economy (ETLA)
    Publication Date: 2019-08-03
    Description: This report analyzes the role of the largest companies in the Finnish economy. According to the results, the ten largest companies in terms of their value added together produce 7,6 % of the Finnish GDP. In addition, these companies generate notable multiplicative effects in the economy. According to the findings, the productivity and the growth rates of the ten largest companies clearly surpass the economy average. In this study, it was also analyzed what kinds of macroeconomic effects will generated by Metsä Fibre’s investment into their new bioproduct factory in Äänekoski, Finland. The calculations were conducted for the construction phase and the production phase individually. According to these analyses, the construction phase alone will generate a positive impact on employment reaching thousands of man-years. However, the true significance of the investment will only become evident in the production phase, since not all investments of equal scale produce similar macroeconomic effects. Besides the characteristics of the examined industries, the size of these effects also depends on which countries acquisitions are made from.
    Keywords: F23 ; L25 ; E22 ; M21 ; L11 ; ddc:330 ; Large ; Largest ; Companies ; Firms ; GDP ; Productivity ; Gross domestic product ; Concentration ; Multiplier effect ; Investment ; Pulp ; Äänekoski ; Group ; Granular ; Concentration ; Großunternehmen ; Wertschöpfung ; Bruttoinlandsprodukt ; Produktivitätsentwicklung ; Multiplikator ; Finnland
    Language: Finnish
    Type: doc-type:report
    Location Call Number Limitation Availability
    BibTip Others were also interested in ...
  • 24
    facet.materialart.
    facet.materialart.
    Helsinki: The Research Institute of the Finnish Economy (ETLA)
    Publication Date: 2019-08-03
    Description: We analyze 51 medium-sized manufacturing industry companies identified by Ali-Yrkkö and Rouvinen in their earlier research in 2015. Currently, out of these 51 companies with a staff of 250–499 employees in 2013, none are using digital platforms for business network management. It is typical for digital platforms that different actors can create, provide and maintain complementary products and services to the various distribution channels and markets, within the framework of mutually agreed business and contract rules, technical bourdary resources and a predefined user experience. Only seven companies (14%) offer digitally featured products and services. Digital product and service features are charted by using 26 different Finnish and English search terms, such as ’internet of things’, ’sensor’, ’cloud service’ and ’preventive maintenance’. Finally we consider four strategic questions for open boundary resources.
    Keywords: L6 ; L8 ; L86 ; L89 ; ddc:330 ; Digital platforms ; Boundary resources ; Digital offering ; Kemppi ; Internetportal ; Unternehmensnetzwerk ; Virtuelle Organisation ; Finnland
    Language: Finnish
    Type: doc-type:report
    Location Call Number Limitation Availability
    BibTip Others were also interested in ...
  • 25
    facet.materialart.
    facet.materialart.
    Helsinki: The Research Institute of the Finnish Economy (ETLA)
    Publication Date: 2019-08-03
    Description: We consider the taxation of non-listed companies and their owners in Finland. We analyse how the current highly non-linear dividend taxation influences the allocation of labour and capital across different firms, average labour productivity and the equilibrium wage level. To this end, we use a general equilibrium model of firm investment where firms may have different production technologies. We find that the current tax system is likely to distort resource allocation compared to linear dividend taxation. This works to lower the average labour productivity as well as the general wage level.
    Keywords: D92 ; G35 ; H24 ; ddc:330 ; Dividend taxation ; Non-listed companies ; Productivity ; Kapitalertragsteuer ; Allokation ; Arbeitsproduktivität ; Finnland
    Language: Finnish
    Type: doc-type:report
    Location Call Number Limitation Availability
    BibTip Others were also interested in ...
  • 26
    facet.materialart.
    facet.materialart.
    Helsinki: The Research Institute of the Finnish Economy (ETLA)
    Publication Date: 2019-08-03
    Description: In the beginning of the 1990’s, various fragmented information networks of the Internet were combined into one integrated network of systems. As a result, the commercial utilization of the Internet boomed, creating completely new business models and economic structures in the process. A similar reaction is now anticipated from the digitalization of industry and society at large. However, the big question is, how can all the separately structured, isolated systems be fused into one seamless network of systems? So far the problem has mainly been addressed from the stand-point of centralized and decentralized system architectures. Our analysis shows, however, that completely new and innovative technological approaches, such as block chain technology, are emerging to address this problem. These new distributed architecture solutions may completely revolutionize the anticipated structures and business models of the digitalization currently in progress, as they allow machines to autonomously share much more than just data, e.g. computational capacity, storage space or even electric power. As a result, understanding digitalization in its full capacity requires a systems approach and new kind of higher-level thinking on the scale of a network of systems.
    Keywords: L14 ; L15 ; L86 ; L96 ; O33 ; ddc:330 ; Digitalization ; Industrial Internet ; Platforms ; Block chain ; Internetportal ; Computernetz ; Netzwerkökonomik
    Language: Finnish
    Type: doc-type:report
    Location Call Number Limitation Availability
    BibTip Others were also interested in ...
  • 27
    facet.materialart.
    facet.materialart.
    Helsinki: The Research Institute of the Finnish Economy (ETLA)
    Publication Date: 2019-08-03
    Description: In this report we present the definition for a digital platform. We also define what kinds for characteristics and features are associated with platforms and the platform economy. This report provides background information for policy-makers on digital platforms. It also serves as an introduction to a policy implications report for the Prime Minister’s Office due later in 2016. The platform economy, digital platforms and their ecosystems are rapidly changing the business models and information technology architectures across traditional industry boundaries. Internet as an operating environment has a central key role to play in this transformation. Thanks to new digital architectures, pioneering actors can now take the leap from intranet towards supply-chain and Internet centric platform train of thought. We define a platform as follows: Digital platforms refer to information technology systems upon which different actors — that is, users, service providers and other stakeholders across organizational boundaries — can carry out valued-adding activities in a multi-sided market environment governed by agreed boundary resources. Typically these actors create, offer and maintain products and services that are complementary to one another. Platforms quintessentially lure and lock in various types of actors with their network effects and economic benefits thereof. In this report we present the developmental history of platforms and the relevant terminology to their definition. We also examine the definitions of the characteristics of platforms from the standpoint of Apple’s platform. Our analysis shows that there are two angles of approach to platforms: the point of view relating to the internal business operations of a company, and the wider aspect arising from managing social and technical boundary resources of Internet-based platforms ecosystems. Actors now require a new kind of grasp and strategic foresight to become significant players in the platform economy.
    Keywords: L6 ; L8 ; L86 ; L89 ; ddc:330 ; Platform ; Platform economy ; Disruption ; Digitalization ; Internetportal ; Integriertes Informationssystem ; Marktstruktur ; Computerunterstützung ; Informationstechnik
    Language: Finnish
    Type: doc-type:report
    Location Call Number Limitation Availability
    BibTip Others were also interested in ...
  • 28
    facet.materialart.
    facet.materialart.
    Helsinki: The Research Institute of the Finnish Economy (ETLA)
    Publication Date: 2019-08-03
    Description: The industrial internet has been described as a new industrial revolution, a significant re-shaper of markets and a global impetus for growth. Finland is looking for new growth opportunities and competitive edge in the industrial internet. The Prime Minister’s Office has identified it as one of its key themes. This project is run by VTT Technical Research Centre of Finland, Aalto University and ETLA, the Research Institute of the Finnish Economy. The Finnish industrial internet – from challenge to opportunity is a project which will carry out an extensive evaluation of the grand scheme of internet economics, clarifying its social and economic impacts both within Finland and globally, while focusing on Finnish manufacturing industry. Furthermore, the project will cover other critical areas of business life (such as energy, transport and logistics, trade, property and infrastructure) as well as the functioning of the public sector. Finland has all the prerequisites for success: a competitive and international technology industry, solid ICT skills, and a public sector that is well-managed and capable of reform. The Finnish industrial internet – from challenge to opportunity project will produce suggestions for policy and measures that would enable Finnish society and Finnish industry to best create and capture value added from this opportunity. This report serves as a background synthesis for the theme.
    Keywords: L6 ; L86 ; L8 ; ddc:330 ; Industrial internet ; Disruption ; Automation ; Digitalization ; Competitiveness ; Industry ; Computerunterstützung ; Industrie ; Internationaler Wettbewerb ; Finnland
    Language: Finnish
    Type: doc-type:report
    Location Call Number Limitation Availability
    BibTip Others were also interested in ...
  • 29
    facet.materialart.
    facet.materialart.
    Helsinki: The Research Institute of the Finnish Economy (ETLA)
    Publication Date: 2019-08-03
    Description: The aim of this report has been to produce an analysis of the state of the social enterprises in Finland. Based on a comprehensive survey, there are roughly 19 000 social enterprises in Finland that employ around 125 000 persons. These estimates produced in this report multiply the views on the magnitude of the phenomenon. Self-identified Finnish social enterprises produce social value though their products or services and mostly in the field of social services and welfare. The main hindrances on the way of the growth of the sector are the lack of an unambiguous definition of a social enterprise and the shortages in measuring the most important outcome, social impact. Measuring and valuing the impact is a key element in attracting funding for social enterprises. New means of impact investment attract not only attention but also capital that seeks for targets, especially in Europe. This additional funding is a much needed in the sector that attracts it’s outside financing currently mostly from public sector and struggles to find financing critical for future growth.
    Keywords: L38 ; L26 ; N34 ; P13 ; G23 ; G24 ; M14 ; G11 ; G14 ; ddc:330 ; Social enterprises ; Impact investment ; Sozialwirtschaft ; Corporate Social Responsibility ; Nachhaltige Kapitalanlage ; Finnland
    Language: Finnish
    Type: doc-type:report
    Location Call Number Limitation Availability
    BibTip Others were also interested in ...
  • 30
    facet.materialart.
    facet.materialart.
    Helsinki: The Research Institute of the Finnish Economy (ETLA)
    Publication Date: 2019-08-03
    Description: The project to build up a banking union in Europe was launched in summer 2012. Thereafter the progress has been fast. Single Supervisory Mechanism will embark on November 1, 2014. A decision on the Single Resolution Mechanism was made in Spring 2014. It should be up and running as of the beginning of 2015. The main rationalisation for the banking union has been the aspiration to to break the vicious circle between banks and sovereigns. Equally important rationalization is to safeguard the smooth operation of the single market. If the cross-border banking is significant, home-country supervision is no more sufficient. If banks become, thanks to large-scale cross-border operations, very large in relation to the economic size of the home country, the interdependence of the banks and the sovereign increases. The greatest challenge of the banking union project in the coming years is to build up both the capacity and the credibility. The first test is the successful execution of the asset quality review of the bank balance sheets and the subsequent stress tests. The new supervisory mechanism needs to prove that neither national interests nor lobbying by major financial institutions have any influence on its decisions.
    Keywords: F15 ; G21 ; G28 ; ddc:330 ; Banking union ; Financial supervision ; Bank resolution ; Single market
    Language: Finnish
    Type: doc-type:report
    Location Call Number Limitation Availability
    BibTip Others were also interested in ...
  • 31
    facet.materialart.
    facet.materialart.
    Helsinki: The Research Institute of the Finnish Economy (ETLA)
    Publication Date: 2019-08-03
    Description: We summarize and compare previous studies considering the impact of R&D subsidies on firm-level labor productivity. These studies conclude quite consistently that the subsidies provided by Tekes do not have statistically significant impact on its client firms’ labor productivity. These studies go astray from the outset, however, as they neither measure what Tekes is set out to do nor correspond to its stated missions. Furthermore, serious methodological issues remain unaddressed both by these studies and by the literature at large. Our findings call for extensive effort in developing a more appropriate tool box for evaluating the impacts of innovation policy.
    Keywords: L52 ; L53 ; O25 ; ddc:330 ; Tekes ; R&D subsidies ; Productivity ; Policy evaluation ; Forschungsfinanzierung ; Technologiepolitik ; Wirkungsanalyse ; Finnland
    Language: Finnish
    Type: doc-type:report
    Location Call Number Limitation Availability
    BibTip Others were also interested in ...
  • 32
    facet.materialart.
    facet.materialart.
    Helsinki: The Research Institute of the Finnish Economy (ETLA)
    Publication Date: 2019-08-03
    Description: This literature review starts with a general discussion of young people and their various activities with special emphasis on youth unemployment and the outcome of alternative ways of measuring the prevalence of unemployment among young people. Thereafter the focus turns to measures targeted at young people based on the knowledge provided in relevant national as well as international literature. A distinction is thereby made between the role and impact of the education system, on the one hand, and active labour market policies (ALMP), on the other. The main reason for making this distinction is that early-year education and ALMP measures are typically targeted at differently aged young people. Apart from young people in general, attention is also paid to two special groups of young people: disabled young people and young immigrants. The review concludes with a discussion of main findings and their policy implications.
    Keywords: I20 ; I38 ; J08 ; J70 ; ddc:330 ; Young people ; Education ; Dropouts ; ALMP ; Evaluation ; Impact ; Jugendarbeitslosigkeit ; Arbeitsmarktpolitik ; Bildungswesen ; Bewertung ; Finnland
    Language: Finnish
    Type: doc-type:report
    Location Call Number Limitation Availability
    BibTip Others were also interested in ...
  • 33
    facet.materialart.
    facet.materialart.
    Helsinki: The Research Institute of the Finnish Economy (ETLA)
    Publication Date: 2019-08-03
    Description: This paper studies the taxation of non-listed companies and their owners in Finland. We first describe the main features of the Finnish tax system regarding the taxation of dividends from non-listed companies. We use firm-level data to illustrate how the tax incentives are reflected in firms’ profit distribution policies. We then build a dynamic investment model that features the main characteristics of the Finnish dividend taxation. In the model, entrepreneurs face a borrowing constraint and have a consumption smoothing motive. We use the model to investigate how the current dividend taxation affects the investment incentives. The results illustrate how the current dividend taxation in certain cases distorts firms’ investment decisions.
    Keywords: D92 ; G35 ; H24 ; ddc:330 ; Dividend taxation ; Non-listed companies ; Firm investment ; Kapitalertragsteuer ; Dividende ; Investitionsentscheidung ; Finnland
    Language: Finnish
    Type: doc-type:report
    Location Call Number Limitation Availability
    BibTip Others were also interested in ...
  • 34
    facet.materialart.
    facet.materialart.
    Helsinki: The Research Institute of the Finnish Economy (ETLA)
    Publication Date: 2019-08-03
    Description: The share of private consumption in gross domestic product is significant; therefore, private consumption has a great influence on economic growth, which makes it a major concept in economics. The purpose of the paper is to estimate and evaluate different forecasting models for private consumption. The first part of the paper focuses on the aggregate consumption. The models are estimated using yearly and quarterly data. The goal of second part of the paper is to estimate and evaluate forecasting models for the components of private consumption. Private consumption can be divided by the duration principle or by product categories. There are three competing statistical models for components of private consumption. All models are presented in the second part of the report and the aim is to choose the best model using statistical methods of model evaluation (R-squared, AIC, BIC).
    Keywords: C43 ; C52 ; C53 ; E21 ; E27 ; C82 ; ddc:330 ; Aggregate consumption ; Private consumption ; Economic forecasts ; Logistic regression ; Privater Konsum ; Prognoseverfahren ; Regressionsanalyse ; Finnland
    Language: Finnish
    Type: doc-type:report
    Location Call Number Limitation Availability
    BibTip Others were also interested in ...
  • 35
    facet.materialart.
    facet.materialart.
    Helsinki: The Research Institute of the Finnish Economy (ETLA)
    Publication Date: 2019-08-03
    Description: There are almost 200,000 enterprises operating in the Finnish service sector, combined. However, not all of the service industries are the same. Some services have become independent of geographical locations, meaning that they can be exported, much like physical products. Other services still require that they are produced and consumed in the same place. Significant differences also exist between the scalability of different services. Since 2007, employment growth has been the fastest in the location-dependent services. The real growth of value added and the increase of productivity, however, have been concentrated in the service industries which do not depend on geography, and where the economies of scale apply the most.
    Keywords: L52 ; L80 ; L88 ; O30 ; F23 ; ddc:330 ; Service ; Growth ; Policy ; Offshorability ; Tradability ; Scalability ; Dienstleistungssektor ; Branchenentwicklung ; Dienstleistungshandel ; Skalenertrag ; Auslandsverlagerung ; Finnland
    Language: Finnish
    Type: doc-type:report
    Location Call Number Limitation Availability
    BibTip Others were also interested in ...
  • 36
    facet.materialart.
    facet.materialart.
    Helsinki: The Research Institute of the Finnish Economy (ETLA)
    Publication Date: 2019-08-03
    Description: A withdrawal of a member state from the EMU due to market pressure has been a rather popular topic in the public debate in recent years. However, the effects of a withdrawal have been analysed quantitatively surprisingly little. Discussions have been concentrated on the crisis countries, but as the Finnish economic difficulties have deepened also on Finland. In the report, the effects of the potential withdrawal of Greece, one of the weakest economies in the EMU, is studied first. In addition we try to sketch the economic effects of a withdrawal of the relatively more balanced Finland. The analysis is made using an international econometric model (NiGEM), where the global economy and the individual economies are described in a rather detailed way based on economic theory and past economic behaviour. Benefits and costs, measured with effects on the GDP, of a withdrawal are related in the short and particularly in the longer run to the ability of labour markets to achieve sustainable wage agreements and to the ability to keep the financial markets calm.
    Keywords: F45 ; F47 ; ddc:330 ; NiGEM ; Simulation ; EMU ; Grexit ; Fixit ; EU-Mitgliedschaft ; Exit-Strategie ; Wirkungsanalyse ; Simulation ; Griechenland ; Finnland
    Language: Finnish
    Type: doc-type:report
    Location Call Number Limitation Availability
    BibTip Others were also interested in ...
  • 37
    facet.materialart.
    facet.materialart.
    Helsinki: The Research Institute of the Finnish Economy (ETLA)
    Publication Date: 2019-08-03
    Description: The euro area economic crisis is largely a result of the competitiveness disparity between Germany and the rest of the euro area. The wage moderation in Germany has considerably improved its competitiveness in relation to the rest of the euro area. Wage policy has been deflationary in Germany in the 2000s in the sense that real wage growth has fallen below labour productivity growth. In the rest of the euro area wage policy has been inflationary since real wage growth has exceeded labour productivity growth. The input-output price model implies that due to the lower wage inflation the unit cost of production in industry has grown much less in Germany than in the rest of the euro area. Restoring competitiveness necessitates a clear wage inflation halt in the rest of the euro area in the coming years.
    Keywords: C67 ; E64 ; F16 ; ddc:330 ; Euro crisis ; Competitiveness
    Language: Finnish
    Type: doc-type:report
    Location Call Number Limitation Availability
    BibTip Others were also interested in ...
  • 38
    facet.materialart.
    facet.materialart.
    Helsinki: The Research Institute of the Finnish Economy (ETLA)
    Publication Date: 2019-08-03
    Description: Information and communications technology, global value chains, and population ageing are changing the structures of the labour market. These three factors affect the tasks carried out in Finland in the future and the division of labour between humans and computers. The changes are taking place at the individual level and affect the ways of working and income inequality. This report surveys the economic literature on these topics.
    Keywords: J21 ; J24 ; J62 ; F16 ; ddc:330 ; ICT ; Global value chains ; Population ageing ; Structural change ; Arbeitsmarkt ; Strukturwandel ; Bibliometrie ; Finnland
    Language: Finnish
    Type: doc-type:report
    Location Call Number Limitation Availability
    BibTip Others were also interested in ...
  • 39
    facet.materialart.
    facet.materialart.
    Helsinki: The Research Institute of the Finnish Economy (ETLA)
    Publication Date: 2019-08-03
    Description: European metals end engineering industry has managed to keep its position in global competition. Germany has become the leading manufacturer of machines and equipment. Metals and engineering products are used in nearly all industries and businesses, and especially due to emerging economy growth the demand outlook is favourable. New materials, new production methods, like additive manufacturing, and new moving power solutions improve the products’ raw material and energy efficiency. Increasing application of information and communication technology raises the effectiveness of production and products. Thanks to automation and robotics machines can be substituted for human labour in inconvenient and hazardous environments. Industrial internet creates new business opportunities.
    Keywords: F01 ; F60 ; F63 ; L61 ; L64 ; O10 ; O50 ; O57 ; ddc:330 ; Metals and engineering ; Manufacture of fabricated metal products ; Manufacture of machinery and equipment ; Future outlook ; Geography of manufacturing ; Globalisation ; Automation
    Language: Finnish
    Type: doc-type:report
    Location Call Number Limitation Availability
    BibTip Others were also interested in ...
  • 40
    facet.materialart.
    facet.materialart.
    Helsinki: The Research Institute of the Finnish Economy (ETLA)
    Publication Date: 2019-08-03
    Description: There are over 3 billion searches globally on Google every day. This report examines whether Google search queries can be used to predict the present and the near future unemployment rate in Finland. Predicting the present and the near future is of interest, as the official records of the state of the economy are published with a delay. To assess the information contained in Google search queries, the report compares a simple predictive model of unemployment to a model that contains a variable, Google Index, formed from Google data. In addition, cross-correlation analysis and Granger-causality tests are performed. Compared to a simple benchmark, Google search queries improve the prediction of the present by 10 % measured by mean absolute error. Moreover, predictions using search terms perform 39 % better over the benchmark for near future unemployment 3 months ahead. Google search queries also tend to improve the prediction accuracy around turning points. The results suggest that Google searches contain useful information of the present and the near future unemployment rate in Finland.
    Keywords: C1 ; C22 ; C43 ; C53 ; C82 ; E27 ; ddc:330 ; Big Data ; Google ; Internet ; Nowcasting ; Forecasting ; Unemployment ; Time-series analysis ; Prognoseverfahren ; Suchmaschine ; Informationsverhalten ; Online-Recherche ; Arbeitslosigkeit ; Finnland
    Language: Finnish
    Type: doc-type:report
    Location Call Number Limitation Availability
    BibTip Others were also interested in ...
  • 41
    facet.materialart.
    facet.materialart.
    Helsinki: The Research Institute of the Finnish Economy (ETLA)
    Publication Date: 2019-08-03
    Description: This study simulates with two dynamic models the macroeconomic and public finance outcomes of a reduction in the corporate income tax rate in Finland. FOG-model is a dynamic CGE model, which is calibrated to the Finnish economy. NiGEM is a multi-country macroeconometric model. The results show that a surprising cut in the corporate income tax rate falls after all adjustments both on new investments and the yield of existing capital. The losses in the tax revenues are capitalized in the market value of the firms, of which many are partly foreign-owned. Investments increase, but the influence in production is mitigated by low reaction of labour supply. Wages increase as well as the public expenditure relates to wages. Gross profits do dot change much. The dynamic effects on tax bases compensate for 30–50 per cent of the losses in the corporate income tax revenues, depending on the model used. If also the increased public expenditure is considered, the compensation rate falls to 25–30 percent. If the tax rate cut is announced well in advance, both the macroeconomic and the public finance results are more favourable. The simulations do not consider the positive effects of profit shifting on corporate income tax revenues.
    Keywords: H22 ; H25 ; C54 ; C68 ; ddc:330 ; Corporate and capital income taxation ; Dynamic effects ; CGE model ; Macroeconometric model ; Körperschaftsteuer ; CGE-Modell ; Makroökonomisches Modell ; Finnland
    Language: Finnish
    Type: doc-type:report
    Location Call Number Limitation Availability
    BibTip Others were also interested in ...
  • 42
    facet.materialart.
    facet.materialart.
    Helsinki: The Research Institute of the Finnish Economy (ETLA)
    Publication Date: 2019-08-03
    Description: We assess Finland’s competitiveness in the light of various, mainly short-term indicators. It turns out that the weak export market performance over the last few years is linked to the deterioration of profitability of production in Finland. A better export and employment performance requires a decline of relative unit labour costs and an improvement of business profitability. Wage moderation is necessary for this to happen. On the other hand, the determinants of Finland’s long-term competitiveness are quite good and maintaining and developing them should remain a key element of economic policy also in the future.
    Keywords: F40 ; E25 ; E64 ; J31 ; O47 ; ddc:330 ; Competitiveness ; Profitability ; Productivity ; Export performance ; Employment ; Internationaler Wettbewerb ; Rentabilität ; Erwerbstätigkeit ; Lohnstückkosten ; Finnland
    Language: Finnish
    Type: doc-type:report
    Location Call Number Limitation Availability
    BibTip Others were also interested in ...
  • 43
    facet.materialart.
    facet.materialart.
    Helsinki: The Research Institute of the Finnish Economy (ETLA)
    Publication Date: 2019-08-03
    Description: European Union and the United States have decided to start negotiations over a Transatlantic Trade and Investment Partnership. Among other things, the agreement would include a reduction in trade and investment barriers as well as barriers against participation in public procurement projects. If successful, the Partnership agreement would constitute a considerable liberalisation of business activity in an area with 825 million inhabitants and about 45 per cent of world GDP when measured in current exchange rates. We review the transatlantic economic relations especially from the Finnish point of view using statistics, and existing empirical economic research on the effects of a transatlantic free-trade area. We have also made an enquiry to Finnish firms concerning the expected effects on their business activities of a Transatlantic Partnership. The expected effects are clearly positive.
    Keywords: F14 ; F15 ; F2 ; ddc:330 ; Economic integration ; Transatlantic economic relations ; Free trade ; Foreign direct investment ; Public procurement ; Internationale Wirtschaftsbeziehungen ; Freihandelszone ; EU-Staaten ; Auslandsinvestition ; Finnland ; USA
    Language: Finnish
    Type: doc-type:report
    Location Call Number Limitation Availability
    BibTip Others were also interested in ...
  • 44
    facet.materialart.
    facet.materialart.
    Helsinki: The Research Institute of the Finnish Economy (ETLA)
    Publication Date: 2019-08-03
    Description: Euro Area member states have agreed to introduce a structural budget balance target to their national legislation (Treaty on Stability, Coordination and Governance). However, there exists no commonly agreed methodology to calculate this macroeconomic indicator. This report presents the conceptual framework underlying the calculation of structural fiscal balances as suggested by different international organizations such as the European Commission and the IMF. We emphasize that the methodology indeed affects both the quantitative estimates and the interpretation of the indicator for policy analysis. In addition we discuss some of the possible limitations of the indicator within real-time macroeconomic surveillance.
    Keywords: H60 ; E62 ; E32 ; ddc:330 ; Cyclically-adjusted budget balance ; Structural balance ; Fiscal policy ; Macroeconomic surveillance ; Haushaltskonsolidierung ; Finanzpolitik ; Wirtschaftsindikator ; Eurozone
    Language: Finnish
    Type: doc-type:report
    Location Call Number Limitation Availability
    BibTip Others were also interested in ...
  • 45
    facet.materialart.
    facet.materialart.
    Helsinki: The Research Institute of the Finnish Economy (ETLA)
    Publication Date: 2019-08-03
    Description: This report is an overview to the presentations and discussions in the seminar Survival or performance? Healthcare viewed through organization, information management, and personnel held on 3.9.2012. The seminar provided an interdisciplinary forum for the question how the health care system may overcome its present challenges.
    Keywords: I11 ; I12 ; M15 ; ddc:330 ; Health care ; Work organization ; Processes ; Information technology ; Gesundheitswesen ; Arbeitsorganisation ; Informationsmanagement ; IT-Infrastruktur
    Language: Finnish
    Type: doc-type:report
    Location Call Number Limitation Availability
    BibTip Others were also interested in ...
  • 46
    facet.materialart.
    facet.materialart.
    Helsinki: The Research Institute of the Finnish Economy (ETLA)
    Publication Date: 2019-08-03
    Description: Municipal employees and private-sector employees in Finland belong to separate earnings-related pension systems. Both systems are financed by contributions from the payroll, and are mostly pay-as-you-go. Thus if a municipality decides to buy services from the private sector, instead of producing them by own employees, the pension contributions will go to the private-sector pension system rather than the municipal pension system. This weakens the financial base of the municipal system and strengthens that of the private-sector system. Outsourcing, however, is not the only factor affecting the relative size of the two systems. Increasing demand for health and long-term care services, caused by population ageing and mostly financed by municipalities, may increase the number of municipal employees substantially during the next 20 years even if outsourcing becomes more widespread. We don’t foresee any pension financing problems caused by shifts between municipal and private-sector pension systems in the future. Still the systems should jointly decide how the risk related to future contribution bases is best divided. We also conclude that the current financing rules of the municipal pension system do not significantly affect outsourcing decisions.
    Keywords: H55 ; H22 ; H75 ; ddc:330 ; Municipal pension system ; Private-sector pension system ; Outsourcing ; Pension financing ; Altersversorgung im öffentlichen Dienst ; Rentenfinanzierung ; Privatwirtschaft ; Outsourcing ; Finnland
    Language: Finnish
    Type: doc-type:report
    Location Call Number Limitation Availability
    BibTip Others were also interested in ...
  • 47
    facet.materialart.
    facet.materialart.
    Helsinki: The Research Institute of the Finnish Economy (ETLA)
    Publication Date: 2019-08-03
    Description: Postal service volumes have diminished and the profitability of postal and courier activities has weakened in Finland in recent years. The study evaluates the development of the service volumes, profitability and employment of postal and courier activities until 2020. The distribution volumes of letters and newspapers will continue to decline in the future because of the increasing internet use in communication. This will increase the unit cost of production in postal service activities because the universal service obligation tends to increase the transportation costs of letters in relation to the distribution volumes. The profitability of postal services is not expected to improve until 2020 because the increasing unit costs can hardly be passed on to the producer price of postal services in the future to a greater extent than today. Moreover, the diminishing postal service volumes will lead to decreasing employment in postal and courier activities.
    Keywords: C53 ; L87 ; ddc:330 ; Postal services ; Universal service obligation ; Profitability ; Postsektor ; Universaldienst ; Rentabilität ; Finnland
    Language: Finnish
    Type: doc-type:report
    Location Call Number Limitation Availability
    BibTip Others were also interested in ...
  • 48
    facet.materialart.
    facet.materialart.
    Helsinki: The Research Institute of the Finnish Economy (ETLA)
    Publication Date: 2019-08-03
    Description: This study aims at investigating the order of magnitude of financial burden of the universal service obligation for the universal service provider, Itella, in the Finnish postal sector. It evaluates the difference between universal service provider’s profitability with the universal service obligation and without it. The data suggest that the provision of universal letter services in compliance with the law causes a notable financial burden for Itella. The profitability of the universal service provider is clearly lower than that of other firms active in the Finnish postal and courier activities sector. During the years 2005–2012, the annual loss due to the universal letter service obligation was about 76 million euros, or 5–8 percent of the turnover of the universal service provider.
    Keywords: D22 ; L50 ; L87 ; ddc:330 ; Universal service obligation ; Profitability ; Net cost ; Postal services ; Postsektor ; Universaldienst ; Rentabilität ; Schätzung ; Finnland
    Language: Finnish
    Type: doc-type:report
    Location Call Number Limitation Availability
    BibTip Others were also interested in ...
  • 49
    facet.materialart.
    facet.materialart.
    Helsinki: The Research Institute of the Finnish Economy (ETLA)
    Publication Date: 2019-08-03
    Description: The study deals with the theory and measurement of competitiveness. The basic theory of firm implies that under constant returns to scale the unit cost of production can be used to measure the marginal cost of production and to model the impact of competitiveness on the market share of a firm. The competitiveness and the market share of a firm is the lower the higher its unit costs are compared to the average unit costs of all firms in the market. Empirical measurement of the unit costs of the Finnish industry is made with respect to Germany. It turns out that the unit costs of the Finnish industry have risen higher than the unit costs of the German industry since 2005, calculated without the effect of electronics industry. In addition to production costs the study deals with the theoretical and empirical impact of transportation costs on competitiveness in export markets. This is an important issue for Finland, which is geographically far away from the main markets of the world. A major disadvantage for the future competitiveness of Finnish export industry will be the EU sulphur directive and the possible inclusion of shipping into the EU emissions trading scheme. The longer marine transportation distance from Finland means that Finland will lose competitiveness for example compared to Germany.
    Keywords: C67 ; D43 ; F12 ; ddc:330 ; Competitiveness ; Imperfect competition ; Production costs ; Transportation costs ; Stückkosten ; Messung ; Wettbewerbstheorie ; Unvollkommener Wettbewerb
    Language: Finnish
    Type: doc-type:report
    Location Call Number Limitation Availability
    BibTip Others were also interested in ...
  • 50
    facet.materialart.
    facet.materialart.
    Helsinki: The Research Institute of the Finnish Economy (ETLA)
    Publication Date: 2019-08-03
    Description: This study analyses financial sustainability of the Finnish public sector. Current tax rates are unlikely to yield sufficient tax revenue for financing public expenditure under an ageing population. In the base alternative we assume that the European crisis does not worsen and that productivity returns to its previous growth path. The estimate of the sustainability gap is 1 per cent of GDP, for the period 2012–2060. In an alternative where the crisis becomes prolonged and productivity converges to a lower growth path, the gap estimate is 2,5 per cent. The estimate is based on the 2012 population projection by Statistics Finland, where life expectancies are slightly lower and net migration substantially larger than in the 2009 projection.
    Keywords: H30 ; H62 ; H63 ; ddc:330 ; Public finance ; Pensions ; Health and long-term care ; Sustainability gap ; Öffentlicher Sektor ; Finanzierung ; Alternde Bevölkerung ; Wirtschaftswachstum ; Finnland
    Language: Finnish
    Type: doc-type:report
    Location Call Number Limitation Availability
    BibTip Others were also interested in ...
  • 51
    facet.materialart.
    facet.materialart.
    Helsinki: The Research Institute of the Finnish Economy (ETLA)
    Publication Date: 2019-08-03
    Description: Elderly people could markedly increase they standard of living by releasing their housing equity. Purchase of a single-payment life annuity would increase the benefits of this release. The tax treatment of these annuities is, however, very strict in Finland, because both yield and capital are taxed without deductibility of premiums. This study describes the wealth structure of households, assesses the options of taxing single-payment life annuities and analyses how launching of these products would influence tax receipts. We recommend that a rate-of-return allowance should be applied, leaving risk-free interest rate and mortality bonus untaxed. We show that adoption of this tax rule is likely to increase tax revenue, since it would reduce tax-preferred housing.
    Keywords: H24 ; G22 ; ddc:330 ; Single-payment life annuity ; Equity release ; Taxation ; Leibrente ; Einkommensteuer ; Finnland
    Language: Finnish
    Type: doc-type:report
    Location Call Number Limitation Availability
    BibTip Others were also interested in ...
  • 52
    facet.materialart.
    facet.materialart.
    Helsinki: The Research Institute of the Finnish Economy (ETLA)
    Publication Date: 2019-08-03
    Description: This study analyses the adjustment of the Finnish earnings-related pension system to very low economic growth. The results show that a permanently lower growth rate of the wage bill would raise only moderately the pension contribution rates in the long term. This is because also the benefits are partially linked to wages. But if the rate of return on the pension fund investments would also go down, the contribution rates would increase significantly. External competitiveness and employment would weaken as well as the position of future generations. The study presents a pension reform that stabilizes the contribution rate by raising the retirement age and cutting pensions. These kind of specific reforms are not, however, optimal due to demographic and economic uncertainty. A better solution would be automatic adjustment rules that are designed to provide accepted redistribution of income between various generations.
    Keywords: H55 ; D58 ; ddc:330 ; Economic growth ; Earnings-related pension system ; Intergenerational redistribution ; Rentenfinanzierung ; Rentenreform ; Gesetzliche Rentenversicherung ; Altersgrenze ; Generationengerechtigkeit ; Finnland
    Language: Finnish
    Type: doc-type:report
    Location Call Number Limitation Availability
    BibTip Others were also interested in ...
  • 53
    facet.materialart.
    facet.materialart.
    Helsinki: The Research Institute of the Finnish Economy (ETLA)
    Publication Date: 2018-11-30
    Keywords: ddc:330
    Language: Finnish
    Type: doc-type:workingPaper
    Location Call Number Limitation Availability
    BibTip Others were also interested in ...
  • 54
    facet.materialart.
    facet.materialart.
    Helsinki: The Research Institute of the Finnish Economy (ETLA)
    Publication Date: 2018-11-30
    Description: In Finland access to public sector information (PSI) is guaranteed in the Constitution as part of the freedom of information. This provision focuses upon the citizen's right to access PSI; it does not cover the re-utilization of PSI for non-commercial or commercial purposes. The re-use of PSI is constricted by copyright law which only permits accessing copyrighted documents and using them for limited judicial and administrative purposes. The copyright protection in Finland is exceptionally extensive covering in practice all public sector information, since in addition to the EU sui generis database protection the law also provides for a catalogue protection which covers all databases and other collections of data in which great amounts of information is stored. Moreover, the pricing of public sector information has been prohibitively high and non-transparent. The extensive copyright protection and high pricing causes legal uncertainty with respect to further utilization of PSI. These issues are also interconnected because it is uncertain whether the high prices relate to licensing of copyrights in the information or recovering costs from the services. The study recommends adopting general open licenses for licensing re-use of public sector information. These licenses should be both legally and technically interoperable with licenses used in Europe and elsewhere in the world so that the Finnish PSI can be securely licensed for world-wide uses. Empirical evidence shows that the public sector wishes to guarantee the copyright attribution in their information which would make the future Creative Commons 4.0 attribution license a good option for a general license used in licensing PSI in Finland. It is also possible to draft a national license along the lines of the Norwegian or Spanish licenses if deemed necessary by the public sector. Smooth functioning of the PSI -re-use sector, both commercial and non-commercial would also require some legislative back-up.
    Keywords: ddc:330 ; Informationsverbreitung ; Öffentlicher Sektor ; Urheberrecht ; Finnland
    Language: Finnish
    Type: doc-type:workingPaper
    Location Call Number Limitation Availability
    BibTip Others were also interested in ...
  • 55
    facet.materialart.
    facet.materialart.
    Helsinki: The Research Institute of the Finnish Economy (ETLA)
    Publication Date: 2018-11-30
    Description: In this paper, we study the value chain of a Finnish designed bicycle and how the value added of the product is spread through the value chain in three