What makes the business cycles to fluctuate? What makes economic growth go up and down? What determines the rate of inflation? What drives economy into crisis? What is productivity growth and what are its determinants? Why some countries are poor and others rich? How to deal with ageing population? How does financial sector interact with the real economy?
Macroeconomics Research Group
Macroeconomics addresses the performance, structure, behavior, and decision-making of an economy as a whole. This entails studying economy-wide phenomena such as output, unemployment, national income, inflation, economic growth, and how they interact in aggregate economies.
Additionally, Macroeconomics involves people making decisions based upon what they think will happen, and what will happen depends on what decisions people make. Consequently, the concept of equilibrium must be dynamic. Solving equilibrium often requires sophisticated techniques. Bulk of macroeconomic theorizing develops methods to achieve this. Much of the research is quantitative and empirical in trying to quantify the aggregate outcome economic policies using economic models as laboratories.
Most of the contemporary macroeconomics research is policy driven. Fiscal policy is the use of government’s expenditures, taxes and debt as instruments to influence the aggregate outcome of an economy. Finding the right balance between policy measures and intertemporal budget constraints is often the main question. Inflation is the outcome of the monetary policy. Inflation interacts with real economy and this trade-off is at the core of research on monetary policy. Financial crisis has put the macroprudential policy high on the research macroeconomics research agenda. Macroprudential policy aims safeguarding the financial system as a whole. Key research question is how financial systems interact with real economy and what are suitable policy tools for safeguarding the system.
Chair of the group,
antti.ripatti at helsinki.fi
lauro.carnicelli at helsinki.fi
peter.elmgren at helsinki.fi
pertti.haaparanta at aalto.fi
kristine.koponen at helsinki.fi
anni.norring at helsinki.fi
tapio.palokangas at helsinki.fi
juho.m.peltonen at helsinki.fi
ville.pikkarainen at helsinki.fi
jussipekka.salo at helsinki.fi
oliver.snellman at gmail.com
oskari.vahamaa at helsinki.fi
maria.wang at hanken.fi
28 Aug 2019
Fiscal Multipliers: Playing with Multiple Instruments
- Giovanni Caggiano
- Monash University
20 Nov 2019
Structural Change within the Services Sector and the Future of Cost Disease (with Georg Duernecker and Berthold Herrendorf)
- Ákos Valentinyi
- University of Manchester
22 Jan 2020
Centralized wage setting in a New Keynesian model
- Petteri Juvonen
- University of Helsinki