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Board Independence and Asymmetric Timeliness of Earnings in a Bank-oriented Financial System: Evidence from Finland
(Tampereen yliopisto, 2009)
- workingPaper
This study examines the link between the board independence and asymmetric timeliness of
earnings in a bank-oriented financial system. The models by Basu (1997) and Ball &
Shivakumar (2005) are re-estimated. This study ...
Moral Hazard, Income Taxation, and Prospect Theory
(Tampereen yliopisto, 2004)
- workingPaper
Abstract: The standard theory of optimal income taxation under uncertainty has been developed under the assumption that individuals maximize expected utility. However, prospect theory has now been established as an alternative ...
Neo-Keynesian Macroeconomics of Inter-National Factor Allocation
(2008)
- workingPaper
In the Neo-Keynesian macroeconomic model demand shocks have no long-run real effects on production, real wages and real interest rates. Therefore, there should be no effects on factor migration either. During the short-term ...
Long Run Deviations From the Purchasing Power Parity Between German Mark and U.S. Dollar. Oil Price - the Missing Link?
(2003)
- workingPaper
The aim of this paper is to identify and investigate empirically the long-run determinants of real exchange rate fluctuations between Germany and the United States since the collapse of Bretton Woods system This study uses ...
Medical Decision Criteria and Policy for an Efficient Allocation of Resources
(Tampereen yliopisto, 2001)
- workingPaper
This paper approaches health care criteria by maximizing society's consumption possibilities in a model where health is a special case of a good produced, consumed, and used as an input in production, and the patient chooses ...
Micro-level Rigidity vs. Macro-level Flexibility: Lessons from Finland
(Tampereen yliopisto, 2009)
- workingPaper
This paper explores the wage flexibility in Finland. The study covers the private sector workers by using three data sets from the payroll records of employers' associations. The data span the period 1985-2001. The results ...
Money and Stock Returns: Is there habit formation for holding liquid assets?
(Tampereen yliopisto, 2006)
- workingPaper
ABSTRACT
Assuming a utility function, which is non-separable in money and consumption, we derive a simple, non-linear asset pricing model, according to which investors’ willingness to hold liquid assets in their portfolio ...
Migration, Policy, and Formation of Cities
(2003)
- workingPaper
Efficient allocation of resources is the cornerstone of market economy, and migration of people is an elementary part of the allocation mechanism. This paper presents a simple club theoretic model of migration between ...
Non-Welfarist Optimal Taxation and Behavioral Public Economics
(Tampereen yliopisto, 2004)
- workingPaper
On Economic Poverty in Finland in the 1990s
(2001)
- workingPaper
We have examined recent trends in the poverty in Finland using two data sourees, the Household Budget Survey (HBS) and the Income Distribution statistics (IDS). We have drawn on the recent literature on poverty analysis ...