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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.
  • Kajanoja, Lauri (2019)
    Bank of Finland. Bulletin 3/2019
    Finnish cost-competitiveness has improved in recent years, following a long period of deterioration. The greatest improvement in cost-competitiveness was seen in 2017, when the Competitiveness Pact entered into force. According to different indicators, cost-competiveness remained mostly flat in 2018 or improved slightly. Similarly, forecasts for 2019 predict neither significant improvement nor deterioration in cost-competitiveness. From the perspective of employment and output in the economy's tradable sector, it would be prudent to see a further slight improvement.
  • Norring, Anni (2019)
    Euro & talous. Blogi
    Heinäkuussa tuli kuluneeksi 75 vuotta Bretton Woodsin konferenssista, jossa delegaatit 44 maasta sopivat Yhdysvaltojen ja Ison-Britannian johdolla uuden talousjärjestelmän periaatteista. Vaikka toinen maailmansota oli edelleen käynnissä, Bretton Woodsissa pystyttiin luomaan järjestelmä, joka määritteli globaalin talouden pelisäännöt vuosikymmeniksi eteenpäin. Onko tästä maailmantaloutta ohjanneesta monenkeskisen yhteistyön hengestä enää mitään jäljellä?
  • Financial Supervisory Authority; FIN-FSA; Capital Markets Supervision (2019)
    Financial Supervisory Authority. Market newsletter 2/2019
    European Securities and Markets Authority (ESMA) to publish enforcement decision on significance of forbearance in credit risk assessment ..1 Companies still have room for improvement in separating audited and unaudited information ..2 European Commission has published Delegated Regulation on a European Single Electronic Format (ESEF) for listed companies’ financial reporting ..5 EMIR Refit ..8 Prospectus news ..10 Topical matters at ESMA ..10
  • Kokkonen, Arto; Mäki-Fränti, Petri; Silvo, Aino (2019)
    Bank of Finland. Bulletin 3/2019
    The pace of labour productivity growth in Finland has faded. This is attributable to lacklustre productivity development in manufacturing as well as the increasing dominance of services in the economy.