Macroeconomics

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.

Members
AR
Antti Ripatti

Chair of the group, Professor
antti.ripatti at helsinki.fi
Homepage

LC
Lauro Carnicelli

Member, PhD student
lauro.carnicelli at helsinki.fi

PE
Peter Elmgren

Member, PhD student
peter.elmgren at helsinki.fi

PH
Pertti Haaparanta

Member, Professor Emeritus
pertti.haaparanta at aalto.fi

SH
Seppo Honkapohja

Member, Professor Emeritus (Senior Fellow)
seppo.honkapohja at aalto.fi
Homepage

PK
Peetu Keskinen

Member, PhD student
peetu.keskinen at helsinki.fi

KK
Kristine Koponen

Member, PhD student
kristine.koponen at helsinki.fi

NL
Nea Leinonen

Member, PhD student
nea.leinonen at helsinki.fi

NM
Niku Määttänen

Member, Professor
niku.maattanen at helsinki.fi
Homepage

AM
Alfan Mansur

Member, PhD student
alfan.mansur at gmail.com
Homepage

VM
Ville Merilä

Member, PhD student
ville.merila at helsinki.fi

AN
Anni Norring

Member, PhD student
anni.norring at helsinki.fi

SO
Seppo Orjasniemi

Member, None

TP
Tapio Palokangas

Member, Professor Emeritus
tapio.palokangas at helsinki.fi

JP
Juho Peltonen

Member, PhD student
juho.m.peltonen at helsinki.fi

VP
Ville Pikkarainen

Member, PhD student
ville.pikkarainen at helsinki.fi

TP
Timm Prein

Member, Assistant Professor
timm.prein at helsinki.fi
Homepage

JS
Jussipekka Salo

Member, PhD student
jussipekka.salo at helsinki.fi

Oliver Snellman

Member, PhD student
oliver.snellman at gmail.com

ST
Saara Tuuli

Member, PhD student
saara.tuuli at helsinki.fi
Homepage

OV
Oskari Vähämaa

Member, Assistant Professor
oskari.vahamaa at helsinki.fi

Upcoming Seminars

28 Aug 2019

Macroeconomics

Fiscal Multipliers: Playing with Multiple Instruments

  • Giovanni Caggiano
  • Monash University

20 Nov 2019

Macroeconomics

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

Macroeconomics

Centralized wage setting in a New Keynesian model

  • Petteri Juvonen
  • University of Helsinki

25 Nov 2020

Macroeconomics

Unemployment Insurance with Consumer Bankruptcy

  • Diego Legal-Cañisá
  • BCP

11 Nov 2020

Macroeconomics

The Term Structure of Redenomination Risk

  • Chi Hyun Kim
  • DIW Berlin

2 Dec 2020

Macroeconomics

The Macroeconomic Cost of College Dropouts

  • Oliko Vardishvili
  • EUI

10 Mar 2021

Macroeconomics

The Unprecedented Fall in U.S. Revolving Credit

  • Georgios Stefanidis
  • York University

12 May 2021

Macroeconomics

Wealth, Search, and Human Capital over the Business Cycle

  • Benjamin Griffy
  • University at Albany, SUNY

26 May 2021

Macroeconomics

Knowledge Diffusion through Hiring, and Economic Growth

  • Eero Mäkynen
  • University of Turku

14 Apr 2021

Macroeconomics

On Robustness of Average Inflation Targeting

  • Seppo Honkapohja
  • Aalto University

6 Oct 2021

Macroeconomics

How Distorted Food Prices Discourage a Healthy Diet (with Roberto Pancrazi and Marija Vukotic)

  • Thijs van Rens
  • University of Warwick

27 Oct 2021

Macroeconomics

CANCELLED: Sovereign debt repatriation during crises

  • Laura Sunder-Plassmann
  • University of Copenhagen

3 Nov 2021

Macroeconomics

Aggregate effects of talent allocation: Evidence from the Finnish comprehensive school reform

  • Juhana Siljander
  • University of Chicago

24 Nov 2021

Macroeconomics

The Life-cycle Growth of Plants: The Role of Productivity, Demand and Wedges

  • Marcela Eslava
  • Universidad de Los Andes

2 Feb 2022

Macroeconomics

Uncertainty Premia, Sovereign Default Risk, and State-Contingent Debt

  • Francisco Roch
  • International Monetary Fund

9 Mar 2022

Macroeconomics

Sovereign debt repatriation during crises

  • Laura Sunder-Plassmann
  • University of Copenhagen

1 Jun 2022

Macroeconomics

Labor Supply and Establishment Size

  • Emircan Yurdagul
  • Universidad Carlos III

16 Mar 2022

Macroeconomics

Monetary policy and inequality: The Finnish case

  • Aino Silvo (Bank of Finland)

20 Apr 2022

Macroeconomics

CANCELED Effects of governmental response policies, vaccination, population mobility, and Twitter narratives on the spread of COVID-19: Evidence from the European Union countries

  • CANCELED Svetlana Ledyaeva (Aalto University)

4 May 2022

Macroeconomics

Aggregate, regional and sectoral implications of transportation costs

  • Sophie Osotimehin (University of Quebec at Montreal)

27 May 2022

Macroeconomics

New Evidence on Sectoral Labor Productivity: Implications for Industrialization and Development

  • Akos Valentinyi
  • University of Manchester

17 May 2022

Macroeconomics

Credit Horizons

  • Nobuhiro Kiyotaki (Princeton)
Helsinki GSE