Browsing by Subject "wages"

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  • Juvonen, Petteri; Obstbaum, Meri; Vanhala, Juuso (2019)
    Bank of Finland. Bulletin 3/2019
    Wage-setting is a key macroeconomic mechanism for employment and economic growth, and in a member state of a monetary union, its importance is even greater. Wages largely determine how the economy responds to shocks, as individual members of a monetary union do not have the possibility of resolving the situation via the exchange rate or by adjusting the nominal interest rate. Prices and wages also determine the real exchange rate of countries in a monetary union and thus play a key role in the development of competitiveness.
  • Vanhala, Juuso; Virén, Matti (2017)
    Bank of Finland. Bulletin 3/2017
    An economy does not export products or create jobs – firms do. These are, however, very heterogeneous and often far from the average. Only the few 'superstars' of high productivity and profitability stand out distinctively in the large mass. A situation in which a few successful firms deviate strongly from the mass may distort the picture of an average firm and lead to erroneous conclusions about the condition of the corporate sector. However, a characteristic common to all firms is that success is reflected in wages and employment, even if in the export sector, the effect is typically smaller. Economic policy should pay more attention to the considerable heterogeneity of firms.
  • Bank of Finland (2011)
    Research Newsletter 2/2011
    Editorial: Sovereign credit risk and global macroeconomic forces 1 Limited asset-market participation, sticky wages and prices, and the nature of optimal monetary policy 3 More capital hampers bank's liquidity creation? 7 Conferences and seminars 9 Recent Bank of Finland research publications 10