60 research outputs found

    Time use and options for retirement in Europe

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    This paper examines the incentive effects of market and household work on retirement. This is accomplished by documenting the time use in market and household work in selected European countries. The assignment of an economic value to household work assumes substitutability of market and household work of some degree. With continuous lifetime patterns, household work may also replace market work after retirement. We construct re-placement rates and option values that include the value of household work for 7 European countries. It is shown that the inclusion of household work in calculations on incentives makes the prospect of retiring more attractive, and that the calculation results correlate with actual retirement ages in Europe. Replacement rates are close to or exceed 100% when household work is accounted for. For men the increase in household work after withdrawing from the labour market is larger in relative terms (double on average). Therefore the effect of accounting for household work in the financial incentive to retire is greater for men.Retirement, option value, time use, leisure, household work, option value

    Internationalization via export growth in Finnish regions

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    Intangible Investment and Market Valuation Revised Version 13.12.2013.

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    Intangibles and innovation-labor-biased technical change

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    Purpose - This paper analyzes the productivity effects of structural capital such as research and development (R&D) and organizational capital (OC). Innovation work also produces innovation-labor-biased technical change (IBTC) and knowledge spillovers. Analyses use full register-based dataset of Finnish firms for the period 1994–2014 from Statistics Finland. Design/methodology/approach - Intangibles are derived from the labor costs of innovation-type occupations using linked employer-employee data. The approach is consistent with National Accounting and offered as one method in OECD (2010) and applied in statistical offices, e.g. in measuring software. The EU 7th framework Innodrive project 2008–2011 extended this method to cover R&D and OC. Findings - Methodology is implementable at firm-level and offers way to link personnel reporting to intangible assets. The OC-IBTC as well as total resources allocated to OC are relevant for productivity growth. The R&D stock is relatively higher but R&D-IBTC is smaller than OC-IBTC. Public policy should, besides technology policy, account for OC and OC-IBTC and related knowledge spillovers in the industries that are most important among the SMEs (low market-share-firms). Research limitations/implications - The data are based on remote access to Statistics Finland; the data cannot be disseminated. Originality/value - Intangible assets are measured from innovation work that encompasses not only R&D work. IBTC is proxied in production function estimation by relative compensations on IA work. The non-competing nature of IAs is captured by IA knowledge spillovers. The sample sizes are much higher than in earlier studies on horizontal knowledge spillovers (such as for SMEs,) thus bringing additional generality to the results.©2020 the author(s). Published by Emerald Publishing Limited. This article is published under the Creative Commons Attribution (CC BY 4.0) licence. Anyone may reproduce, distribute, translate and create derivative works of this article (for both commercial and non-commercial purposes), subject to full attribution to the original publication and authors. The full terms of this licence may be seen at http://creativecommons.org/licences/by/4.0/legalcode.fi=vertaisarvioitu|en=peerReviewed

    Intangibles: Can They Explain the Unexplained

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    Flexible Pension System: Postponed Retirement and Distributional Fairness

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    Intangibles: Can They Explain the Unexplained, revised version

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    Intangible capital agglomeration and economic growth : a regional analysis of Finland

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    Transport investment in railways to generate knowledge transfer from interfirm worker mobility

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    An analysis using extensive Finnish microdata reveals new insights into economic returns on transport investments. Cost-benefit analysis is combined with returns to new intangible and human capital from interfirm worker mobility. Halving travel time to one hour in the Helsinki-Turku railway corridor increases commuting by 40% and yields annual returns of 30 million 2015€ in time savings and travel costs and 40-50 million € from new intangible and human capital. Two-thirds of gains are from new intangible capital, and one-third is from new human capital. These are largely explained by new jobs in the Helsinki metropolitan area.fi=vertaisarvioimaton|en=nonPeerReviewed
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