We organise seminars for researchers on Wednesdays from 10am to 11am. Labore seminars will be arranged on-site, hybrid or Teams. The seminars will be held at Economicum (Arkadiankatu 7), seminar room, 4th floor.
30.11. Michaela Elfsbacka Schmöller (Bank of Finland): Endogenous Technology, Scarring and Fiscal Policy (hybrid)
Abstract: This paper studies fiscal policy in a New Keynesian DSGE model with endogenous technology growth in which scarring can occur endogenously through cycle-trend interaction. Both demand and supply-driven recessions can depress investment in R&D and technology adoption, thus generating permanent losses in the technology stock and hence the long-run output path. The costs of the ZLB are amplified due to monetary policy long-run non-neutrality,increasing the role of supplementary fiscal policy. Government spending crowds out technology-enhancing investment, except for the case of highly persistent policies. I study novel fiscal policy tools in the form of growth policies which boost aggregate demand at present while simultaneously raising productivity-improving investment and hence the long-run trend. Multipliers of fiscal growth policies range considerably above generally prevailing assessments of governmentspending multipliers and are characterized by a permanent component. Growth-promoting fiscal policies are dinflationary, rendering them particularly beneficial in supply-driven recessions.
- 28.9. Rodrigo Oliveira(UNU-WIDER): The impacts of studying abroad: evidence from a massive government-sponsored scholarship program in Brazil
- 5.10. Michele Cantarella (Helsingin yo): Does language prevent policy implementation? Evidence from the Italian Start-up Act
- 12.10. Min Zhu (Hanken): Anti-dumping and Product Quality
- 26.10. Michele Cantarella (Helsingin yo): Piecework and job search in the platform economy
- 2.11. Hannu Karhunen (Labore): If you charge them will they come? The effect of levying tuition fees on international students
- 9.11. Jussipekka Salo (Univ. of Helsinki): Effects of general education on garnishment
- 16.11. Milo Bianchi (Toulouse School of Economics): Agency Costs in Small Firms
- 23.11. Ohto Kanninen (Labore): Wage garnishment and labor supply