The Early Career Gender Wage Gap

In Finland the gender wage gap increases significantly during the first 10 years after labor market entry accounting most of the life-time increase in the gender wage gap. This paper focuses on the early career gender wage differences among university graduates and considers several explanations for the gender wage gap based on the human capital theory, job mobility and labor market segregation. Gender differences in the accumulation of experience and in the type of education explain about 16 percent of the average gender wage gap that emerges during the first 11 years after labor market entry among university graduates. Differences in employer characteristics between male and female graduates account about 10 percent for the average early career gender wage gap. In all gender differences in background characteristics explain about 27 percent of the average early career wage differences between male and female university graduates. The most important single factor contributing to the gender wage gap is the family type. Women seem to suffer considerable larger wage losses due to marriage and children than men.gender wage gap, early career

Subsample stability, change detection and dynamics of oil and metal markets: A recursive approach

The analysis of historical price data for patterns and using such patterns for predictions and policy recommendations has become ubiquitous in the existing economics literature. These predictions and recommendations are premised on the stability of the statistical properties and inter-variable dynamics for which a single regime or few number of regimes can capture. This, however, is a strong assumption with serious repercussions if violated. In this study, the appropriateness of the stability assumption is questioned using various recursive regressions to test stability, consistency of stationarity and stability in inter-variable dynamics between crude oil, gold, silver, and platinum prices. Using monthly data sourced from the World Bank Commodity Price Data (Pink Sheet) from January 1, 9960 to March 2022, our empirical analysis found level prices of oil, gold, and platinum to be consistently non-stationary with rare exceptions. The level price of silver however is found to be inconsistent with multiple regime switches while the logged series of all variables yielded non-stationarity. The default is stationarity for all the variables when price series are logged differenced and/or differenced for oil, silver, and platinum. Differenced gold prices resulted in inconsistent stationarity with multiple regime changes. Even if rare, the stationarity of all the variables is dependent on time and sample size due to the inconsistence in the stationarity verdict. On the bi-variate relationship in the long run, only level silver prices are found to be cointegrated with oil while logged silver prices are inconsistently cointegrated with logged oil prices. Also, in the short-run, only log of oil prices is found to Granger cause log of silver prices. It is thus recommended that researchers and policy makers be tempered in extrapolating statistical findings in general and the price and interprice dynamics of oil, gold, silver and platinum into the future

The Role of Public Sector Accounting on Accountability in Public Institutions in Ghana

The increasing push for accountability in public institutions across Africa is borne out of the various socioeconomic prospects associated with it. It is due to this that public sector accountability is so critical and hence the interest in understanding it and ensuring that it is done properly to meet its intended purpose. This study investigated the role of public sector accounting on accountability in Ghana. This study relied on purposive sampling while using an interview guide and questionnaire for its primary data collection. The findings showed that financial accountability is carried out through five phases. Additionally, it was revealed that proper financial reporting and internal audits have a positive significant impact on financial accountability in public institutions. Finally, the study recommends periodic training and development programmes for public sector accountants and internal auditors as well as perceives financial reporting and internal audits function as a strategic part of the business. Keywords: Public Sector Auditing, Auditor-General office and public sector accountability DOI: 10.7176/EJBM/14-20-06 Publication date:October 31st 202

Safe to wear and environmentally sound? Tekstiilien kemikaalit ja ekologisuus kuoritakkien kuluttajaviestinnässä

Kuluttajat ovat yhä kiinnostuneempia arjen kemikaaleista ja eettisestä kuluttamisesta. Viime vuosina Suomessa on keskusteltu tekstiilien tuotanto-oloista ja ekologisuudesta. Tekstiilien valmistuksessa käytettävät kemikaalit vaikuttavat olennaisesti tekstiilien ekologisuuteen. Tämän tutkielman tavoitteena oli selvittää, miten tekstiilien kemikaaleista ja ekologisuudesta viestitään kuluttajille ostotilanteessa. Tutkielma rajattiin koskemaan ulkoilussa käytettäviä kuoritakkeja ja niiden vedenpitävyys- eli DWR-käsittelyissä käytettyjä kemikaaleja. Päätutkimuskysymys oli, miten kuoritakkien DWR-käsittelyiden kemikaaleista ja tuotteen ekologisuudesta viestittiin kuluttajille. Tutkielman näkökulma oli kuluttajalähtöinen, ja tutkija toimi tutkimuksessa eettisen kuluttajan roolissa. Primääriaineistoa olivat kuoritakkien tuotelaput ja verkkokauppatekstit. Aineiston redusoinnissa käytettiin teemoittelua, ja analyysiä ohjasivat TerraChoicen Viherpesun synnit sekä ympäristömerkkien de jure - de facto -jaottelu. Tulokset jakautuivat kolmeen pääteemaan, Tuotteen valmistus ja ominaisuudet, Merkit ja symbolit, sekä Mielikuvat. Viestintä painottui tuotteiden teknisiin ominaisuuksiin, mutta myös takkien ekologisuuteen ja valmistajien arvoihin liittyviä väitteitä esiintyi useimpien takkien kohdalla. Tuotteiden sisältämistä kemikaaleista puhuttiin vain vähän, ja yleisin kemikaaleihin liittyvä väite oli PFC- eli PFAS-yhdisteiden käytöstä irtisanoutuminen, mikä heijastaa viime vuosina käytyä keskustelua PFAS-yhdisteiden käytön minimoinnista teollisuudessa. Ekologisuudesta viestittiin väitteillä, de jureja de facto-tyyppisillä ympäristömerkeillä sekä visuaalisilla keinoilla. Osa aineiston ekologisuuteen liittyvästä viestinnästä oli luokiteltavissa viherpesuksi. Viestintä erosi osittain tuotelappujen ja verkkokauppatekstien välillä. Verkkokauppatekstit keskittyivät tuotteen ominaisuuksiin, kun tuotelapuissa korostuivat valmistajien arvot ja tarinallisuus

Corrosion by ashes from the energy production in Helsinki metropolitan area

Energiantuotannon tuhkilla voidaan paikallisesti korvata merkittäviä määriä luonnon kiviaineksia tai jalostaa heikkolaatuisia maa-aineksia. Vaikka tuhkia on hyödynnetty maa- ja infrarakentamisessa jo useita vuosikymmeniä, hyödyntämistä voidaan lisätä käytön esteitä purkamalla. Tämänhetkinen ohjeistus on hyvin varovainen tuhkien aiheuttaman korroosioriskin osalta, ja on herännyt epäilyjä, että ohjeistus on ylivarovainen. Tämän työn tavoitteena on luoda kattava, tutkimuksiin perustuva selvitys tuhkien todellisista korroosiovaikutuksista myöhemmin laadittavaa uusiomateriaaliohjetta sekä mahdollisesti suoritettavaa korroosiokenttäkoetta varten. Työn tutkimusosion tavoitteena on todentaa aikaisemmassa tutkimuksessa esiin tullut näkemys kivihiilen lentotuhkan jäännöshiilen vaikutuksesta sähköiseen ominaisvastukseen, jota käytetään yleisesti kuvaamaan maaperän aggressiivisuutta. Työssä tarkastellaan pääkaupunkiseudun energiantuotannossa syntyvien tuhkien geoteknisiä sekä korroosioon vaikuttavia fysikaalisia ja kemiallisia ominaisuuksia, joiden perusteella arvioidaan tuhkien korroosiovaikutusta maaperässä käytettäviin metallimateriaaleihin. Työssä esitellään kattavasti korroosion ilmenemismuotoja, maaperässä tapahtuvan korroosioon vaikuttavia tekijöitä sekä eri metallimateriaalien tyypillisiä syöpymismekanismeja maaperän ja tuhkamateriaalien luomassa korroosioympäristössä. Nykyään syntyvät tuhkat ovat pääsääntöisesti korroosioympäristöön vaikuttavilta ominaisuuksiltaan parempilaatuisia aikaisempien vuosikymmenien tuhkiin verrattuna. Tehostuneet polttotekniikat sekä päästörajoitusten myötä vähärikkisemmän kivihiilen käyttöönotto ovat vähentäneet kivihiilen tuhkien liukoisten suolojen määrää sekä palamatta jääneen hiilen osuutta. Kirjallisuustutkimuksen perusteella liukoiset suolat lisäävät selvästi tuhkien sähkönjohtavuutta nopeuttaen metallien syöpymistä. Lisäksi suolojen aggressiiviset anionit, etenkin kloridit, aiheuttavat osalla metalleilla, kuten ruostumattomilla teräksillä, alumiinilla ja sinkillä, paikallista syöpymää. Polttoprosessissa palamatta jäänyt hiili on mahdollisesti merkittävä tekijä tuhkien aiheuttaman korroosioriskin kannalta, sillä jalona materiaalina se voi aikaansaada voimakkaan korroosiokennon syövyttäen epäjaloja metalleja, kuten terästä, alumiinia ja sinkkiä. Työn tutkimustulokset kumoavat alkuperäisen hypoteesin, jonka perusteella lentotuhkan ominaisvastuksen arvoon vaikuttaisi lentotuhkan jäännöshiilen osuus. Tutkimuksessa matalamman jäännöshiilipitoisuuden lentotuhkalla oli pääsääntöisesti matalampi ominaisvastus. Tulos vahvistaa käsitystä siitä, että tuhkat on tarkasteltava voimalaitoskohtaisesti erikseen. Ilman kattavaa korroosiokenttäkoetta on tuhkien aiheuttaman todellisen korroosioriskin arviointi vaikeaa.Ashes from energy production may be utilized locally to replace significant amounts of natural aggregates or to improve low-grade soils. Although ashes have been utilized in earth and infrastructural construction for several decades, utilization can be increased by dismantling obstacles for use. Current specification is extremely cautious concerning corrosion by ashes and concerns have risen suggesting that the specification is over-conservative. The aim of this thesis is to create a comprehensive research-based analysis of the actual corrosion effects of ashes, which serves as a preliminary study for both a manual for recovered material as well as for corrosion field test possibly conducted later on. The aim of the empirical part of the study is to confirm an impression from a previous study that the residual carbon in coal combustion fly ashes affects the electrical resistivity, which is the most commonly used indicator of soil aggressiveness. This thesis examines geotechnical and the essential physical and chemical properties influencing corrosion, which are further used to examine the corrosive behaviour of energy industrial ashes formed in metropolitan area on the most commonly used metals in earth constructions. This thesis extensively presents different forms of corrosion, factors affecting corrosion by soil and typical corrosion mechanisms on different metallic materials in both soil and ash environment. The properties affecting the corrosiveness of an environment are generally of better quality in ashes nowadays than in those generated in the past decades. More efficient combustion techniques combined with burning of low-sulphur coal due to more restrict emission control have reduced the soluble salt and the unburned carbon content of coal combustion ashes. The literature review clearly shows that the soluble salt content increases the conductivity of ashes thus increasing the corrosion rate of metals. Furthermore, the aggressive anions of salts, especially chlorides, induce localized forms of corrosion for metals, such as, stainless steel, aluminium and zinc. The unburned carbon may also prove to be a significant factor determining corrosion risk by ashes, since being an electropositive material it may form strong corrosion cell on the surface of electronegative metals, such as, steel, aluminium and zinc. The results of the empirical study refute the initial hypothesis that the amount of residual carbon would affect to the electrical resistivity of fly ash. According to the study, the fly ash with lower carbon content had lower resistivity. The result substantiates the idea that each ash type from different power plants should be evaluated separately. In conclusion, it is difficult to assess the corrosiveness of ashes without a comprehensive field test

The language of sustainability: Exploring the implications of metaphors on environmental action and finance

The relationship between humans and the environment is complex. To capture this complex relationship, metaphors/concepts have always been used. The most prominent of these metaphors/conceptions is the limits concept. This views the natural environment in terms of its carrying capacity and contend that human actions must be controlled so as not to overwhelm the environment. For overburdening the environment will result in a collapse of the natural system. The environmental optimists on the other hand discount the carrying capacity contending that human ingenuity and the market mechanism will overcome any temporary environmental problems that may arise. A tempered version of both is the political-ecological class of metaphors/conceptions which emphasize the political, cultural, and economic factors responsible for environmental decay and/or restoration. In this study, the implications of these metaphors/conceptions on environmental action and environmental finance are examined. It is concluded that, the limits conception views environmental action as a top-bottom endeavor and places governmental and multilateral organizations at the center of environmental and climate finance. The neoclassical and technological optimist concepts contend that, the current capitalist structure is well suited to tackle environmental externalities and government policy should encourage eco-innovation preferable through public-private partnerships. The tapestry and the political-ecological class of metaphors envisages a role for central authorities as well as private local individuals with crowdfunding and corporate social/environmental responsibilities along with governmental and multilateral aid and public-private partnerships being some of the main sources of funds for environmental protection and restoration

Overview of Central Government Risks and Liabilities, Autumn 2019

The good economic development in recent years has strengthened the general government finances, but at the same time, the risks of general government finances have grown. Direct government liabilities have grown considerably in ten years. In 2008, central government debt amounted to EUR 54 billion, compared to EUR 105 billion at the end of 2018. During the same period, government contingent liabilities have grown strongly and the growth does not appear to be subsiding. Central government guarantees and collateral in effect totalled EUR 57 billion at the end of 2018. The corresponding figure in 2010 was EUR 23 billion. The risk level of guarantee liabilities increases due to their concentration in certain sectors and companies. In addition to direct liabilities, guarantee liabilities and collateral, central government’s risk position is influenced by implicit liabilities. They are not legally binding on central government, but due to social factors, central government is expected to bear the ultimate responsibility for them. The key implicit liabilities are those pertaining to the banking sector and local government. Finland’s banking sector involves structural factors that increase its sensitivity to disruptions. These are the banking system’s relatively large size, concentration and close links with other Nordic countries. These special features have gained strength in recent years. Local government’s implicit risks have also increased due to the growth in municipalities’ financial liabilities. At the end of 2018, municipalities’ debt was EUR 17 billion, having been EUR 5.5 billion in the early 2000s. In addition, guarantees granted by municipalities have grown significantly. The growth in government liabilities and modest growth prospects, driven by structural factors in the form of weak productivity development and ageing population, have reduced the leeway for central government in the event of a macroeconomic disruption. Particular attention should thus be given to indebtedness and growth in contingent liabilities and their risk management. There is also a need for structural reforms that support the development of employment and productivity