Research interests

Industrial organization: competition, innovation, regulation.

CV

Recent and ongoing research

Welfare effects of R&D support policies (2024). with Tuomas Takalo and Tanja Tanayama.

Death and turmoil in R&D teams (2023). with Thomas Åstebro and Olof Ejermo.

The effects of price regulation on pharmaceutical expenditure and availability (2023). with Mika Kortelainen, Jaakko Markkanen and Markku Siikanen.

The incentive and welfare effects of the European Unitary Patent (2023). with Alexis Stevenson and Tuomas Takalo.

Publications

Inequality and creative destruction (2023). with Richard Blundell and Xavier Jaravel. In Economics of Creative Destruction: New Research on Themes from Aghion and Howitt., eds. U. Akcigit and J. van Reenen, Harvard University Press.

Parental education and invention: The Finnish enigma (2023). with Philippe Aghion, Ufuk Akcigit and Ari Hyytinen. International Economic Review, 64, 2, 453-490. See also older working paper: The social origins and IQ of inventors (2017). Harvard Business Review. Project Syndicate. VoxEU. The Economist.

From conference submission to publication and citations: Evidence from the EARIE conference (2022). with Yossi Spiegel. International Journal of Industrial Organization, 84.

A year older, a year wiser (and farther from frontier): Invention rents and human capital depreciation (2022). with Philippe Aghion, Ufuk Akcigit and Ari Hyytinen. Review of Economics and Statistics, forthcoming. Online Appendix.

Ex-post analysis of the TeliaSonera-Chess 2005 merger (2021). with Norman Maier, Julie Runge Jørgensen and Asger Lunde. De Economist, 169, 2, 141-178.

Heritability of lifetime earnings (2019). with Ari Hyytinen, Pekka Ilmakunnas and Edvard Johansson. Journal of Economic Inequality, 17, 319-335.

An anatomy of cartel contracts (2019). with Ari Hyytinen and Frode Steen. Economic Journal, 129, 621, 2155–2191. Coding manual (2007). Online Appendix. VoxEU.

Cartels uncovered (2018). with Ari Hyytinen and Frode Steen. American Economic Journal: Microeconomics, 10(4), 190-222. Online Appendix. VoxEU.

When does Regression discontinuity design work? Evidence from random election outcomes (2018). with Ari Hyytinen, Jaakko Meriläinen, Tuukka Saarimaa and Janne Tukiainen. Quantitative Economics, 9(2), July 2018. Online Appendix.

Design of public procurement auctions: Evidence from cleaning contracts (2018). with Ari Hyytinen and Sofia Lundberg. RAND Journal of Economics, 49(2), 398-426.

On the returns to invention within firms: Evidence from Finland (2018). with Philippe Aghion, Ufuk Akcigit and Ari Hyytinen. American Economic Association, Papers&Proceedings, 108, 208-212.

Public employees as politicians: Evidence from close elections (2018). with Ari Hyytinen, Jaakko Meriläinen, Tuukka Saarimaa and Janne Tukiainen. American Political Science Review, 112(1), 68-81. Online Appendix.

Education and invention (2016). with Lotta Väänänen. Review of Economics and Statistics, 98(2), 382-396. Online Appendix. VoxEU.

Economics of innovation policy (2015). with Tuomas Takalo. Nordic Economic Policy Review, 2, 65-90.

Problems in launching the mobile internet: Evidence from a pricing experiment (2014). with Maija Gao and Ari Hyytinen. Journal of Economics and Management Strategy, 23(3), 483-506. Online Appendix.

Market failures and the additionality effects of public support to private R&D: Theory and empirical implications (2013). with Tuomas Takalo and Tanja Tanayama. International Journal of Industrial Organization, 31, 634-642.

Estimating the benefits of targeted R&D subsidies (2013). with Tuomas Takalo and Tanja Tanayama. Review of Economics and Statistics, 95(1), 255-272. Online Appendix.

The return-to-entrepreneurship puzzle (2013). with Ari Hyytinen and Pekka Ilmakunnas. Labour Economics, 20, 57-67.

Returns to inventors (2012). with Lotta Väänänen. Review of Economics and Statistics, 94(4), 1173-1190.

Entrepreneurship, financiership, and selection (2012). with Tuomas Takalo. Scandinavian Journal of Economics, 114(2), 601-628.

Income inequality and technology diffusion: Evidence from developing countries (2011). with Ari Hyytinen. Scandinavian Journal of Economics, 113(2), 364-387.

Market structure and entry: Where’s the beef? (2005). with Michael Waterson. RAND Journal of Economics, 36(3), 680-699.

Do financial constraints hold back innovation and growth? Evidence on the role of public policy (2005). with Ari Hyytinen. Research Policy, 34(9), 1385-1403.

Intergenerational effects in the diffusion of new technology: The case of mobile phones (2004). with Jukka Liikanen and Paul Stoneman. International Journal of Industrial Organization, 22(8-9), 1137-1154.

Monitoring and market power in credit markets (2004). with Ari Hyytinen. International Journal of Industrial Organization, 22(2), 269-288.

Vertical differentiation, asymmetric information and endogenous bank screening (2004). with Ari Hyytinen. B.E Journals in Economics: Topics in Theoretical Economics, 4(1).

Asymmetric information and the market structure in the venture capital industry (2003). with Ari Hyytinen. Journal of Financial Services Research, 23(3), 241-249.

Innovation and the market value of UK firms, 1989-1995 (2002). with Derek Bosworth and Paul Stoneman. Oxford Bulletin of Economics and Statistics, 22(2), 269-288.

Is there adverse selection in the credit market? (2001). with Robert Cressy. Venture Capital: An International Journal of Entrepreneurial Finance, 3(3), 215-238.

The impact of revised recommended accounting practices on R&D reporting by UK firms (2001). with Paul Stoneman. International Journal of the Economics of Business, 8(1), 123-136.

Empirical research on discrete choice game-theoretic models of entry: An illustration (2000). with Michael Waterson. European Economic Review, Papers and Proceedings, 44(4-6), 985-992.

Dynamics of R&D and investment: UK evidence (2000). with Paul Stoneman. Economics Letters, 58, 119-126.

Economies of scale and scope in the Finnish non-life insurance industry (1997). Journal of Banking and Finance, 21, 759-779.

Current teaching

Introduction to econometrics, PhD IO I and II.