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  • Simola, Heli (2020)
    BOFIT Policy Brief 4/2020
    In this note, we provide a brief description of the CO2 emissions embodied in global trade flows with an emphasis on the EU’s external trade with China. Our analysis suggests that imported emissions account for an increasing share of CO2 emissions associated with consumption within the EU. The CO2 emissions embodied in EU imports mainly originate from emerging economies, particularly China. We also discuss possible effects from the introduction an EU border adjustment mechanism that would impose tariffs on CO2 embodied in imports to the EU. Our results suggest that a potential border adjustment mechanism would likely affect EU trade with China, the largest source of CO2 imports to the EU. The effects would probably be felt more in imports of inputs for production chains located in the EU than in final products consumed in the EU.
  • Xia, Le (2020)
    BOFIT Policy Brief 3/2020
    China’s banking sector, particularly small and medium-sized banks, today face a headwind of asset quality deterioration. Revisiting Chinese bank rescues from the early 2000s, we examine how the authorities tackled a severe rise in non-performing loans (NPLs). Following a discussion on costsharing among government agencies in that fitful NPL clean-up, we identify policy measures most suited to dealing with the current NPL situation.
  • Suomen Pankki (2020)
    Euro & talous. Analyysi
    Suomen talous kasvoi vahvasti vuoden 2019 kolmella ensimmäisellä neljänneksellä, mutta lyhyen aikavälin mallien perusteella kasvu näyttää lähes pysähtyneen vuoden viimeisellä neljänneksellä. Vuosi 2020 alkaa maltillisen kasvun merkeissä. Työllisyysasteen kasvu näyttää edelleen hidastuvan, mistä kertovat mm. alentuneet työllisyysodotukset. Työllisyysodotukset ovat laskeneet varsinkin teollisuudessa. Myös teollisuuden luottamusindeksi on heikentynyt selvästi.
  • Bank of Finland (2020)
    Bank of Finland. Bulletin 5/2019
    The peak of the cycle in the Finnish economy is now over and economic growth is temporarily losing momentum. Although growth for the current year is still good, there are clear signs of a slowdown. Growth has already slowed in Finland’s important trading partners, and in the domestic economy both business and household confidence has been declining for some time. The continued sluggishness of global and euro area growth is reflected in Finland’s growth figures, which will dip below 1% annual growth in 2020. However, both the euro area and the global economy will gradually recover and exert a pull on the Finnish economy, too. GDP growth will pick up slightly in 2021–2022, to 1.1% and 1.3%, respectively.