WorldCat Identities

Koskela, Erkki

Works: 362 works in 1,006 publications in 2 languages and 3,268 library holdings
Genres: Conference papers and proceedings 
Roles: Author, Editor, Honoree, Other
Classifications: SD393, 338.1349
Publication Timeline
Most widely held works by Erkki Koskela
Economics of forest resources by Gregory S Amacher( Book )

11 editions published in 2009 in English and held by 173 WorldCat member libraries worldwide

The field of forest economics has expanded rapidly in the last two decades, and yet there exists no up-to-date textbook for advanced undergraduate-graduate level use or rigorous reference work for professionals. Economics of Forest Resources fills these gaps, offering a comprehensive technical survey of the field with special attention to recent developments regarding policy instrument choice and uncertainty. It covers all areas in which mathematical models have been used to explain forest owner and user incentives and government behavior, introducing the reader to the rigor needed to think through the consequences of policy instruments. Technically difficult concepts are presented with a unified and progressive approach; an appendix outlines the basic concepts from calculus needed to understand the models and results developed. The book first presents the historical and classic models that every student or researcher in forest economics must know, including Faustmann and Hartman approaches, public goods, spatial interdependence, two period life-cycle models, and overlapping generations problems. It then discusses topics including policy instrument choice, deforestation, biodiversity conservation, and age class based forest modeling. Finally, it surveys such advanced topics as uncertainty in two-period models, catastrophic risk, stochastic control problems, deterministic optimal control, and stochastic and deterministic dynamic programming approaches. Boxes with empirical content illustrating applications of the theoretical material appear throughout. Each chapter is self-contained, allowing the reader, student, or instructor to use the text according to individual needs
Savings behavior : theory, international evidence, and policy implications by International Evidence and Policy Implications Conference on Savings Behavior: Theory( Book )

11 editions published in 1992 in English and held by 127 WorldCat member libraries worldwide

The studies in the first part of this volume focus on measurement issues associated with national saving and its sectoral components. An historical perspective on saving in 11 OECD countries during the last 100 years is also presented. This is followed by analysis of private and household saving ratios in the US, Japan, Italy and the Nordic countries. Distinctions are made between eg. "low" savers such as the Nordic countries and "high" savers such as Japan and Italy. Saving behaviour in less developed countries is also analyzed, with an emphasis on the interaction between liquidity constraints, uncertainties and the lack of insurance markets. Based on numerical simulations of the impact of demographic changes on capital formation, another study argues for the usefulness of generational accounts instead of the usual fiscal deficits and surpluses in considering the relationships between fiscal policy and saving. The final two papers are a review of the relationship between national saving and domestic investment, and a study of the determination of world interest rates via the interaction of world saving and investment. -- Publisher description
Green tax reform and competitiveness by Erkki Koskela( Book )

23 editions published between 1998 and 1999 in English and held by 112 WorldCat member libraries worldwide

This paper develops a model of a small open economy that produces an export good with domestic labour and imported energy and is stuck in an unemployment situation resulting from an excessive fixed net-of-tax wage rate. We study a revenue-neutral green tax reform that substitutes energy for wage taxes. A moderate green tax reform will boost employment, improve welfare, and increase the economy's competitiveness. The driving force behind these results is the technological substitution process that a green tax reform will bring about by inducing the producers to substitute labour for energy as factors of production. The resulting reduction in unemployment is welfare increasing since energy, which the country has to buy at its true national opportunity cost, is replaced with labour, whose price is above its social opportunity cost. As long as the labour tax rate exceeds the resource tax rate, a revenue-neutral green-tax reform will reduce the domestic firms' unit cost of production and hence increase international competitiveness and output of the economy
A study of bank behaviour and credit rationing by Erkki Koskela( Book )

10 editions published in 1976 in English and Undetermined and held by 103 WorldCat member libraries worldwide

Equilibrium unemployment with outsourcing and wage solidarity under labour market imperfections by Erkki Koskela( )

9 editions published in 2007 in English and held by 44 WorldCat member libraries worldwide

We study the various consequences of and the incentives for outsourcing. We argue that the wage elasticity of labour demand increases as a function of the share of outsourcing, which is a result consistent with existing empirical research. Furthermore, we show that a production mode with a higher proportion of outsourcing activity reduces the negotiated wage in the high-wage country with an imperfectly competitive labour market so that outsourcing reduces equilibrium unemployment. Finally, we characterize the optimal production mode and show that stronger labour market imperfections lead to a production mode with a higher share of outsourcing
Equilibrium unemployment with credit and labour market imperfections by Erkki Koskela( Book )

17 editions published in 2001 in English and held by 34 WorldCat member libraries worldwide

We study the role of labour and credit market imperfections for the determination of equilibrium unemployment. In the credit market loan contracts are negotiated between financiers and firms, both possessing bargaining power, while the firms and organized labour bargain over the base wage. The sequential labour and credit market negotiations are assumed to take place conditional on the firm having committed itself to use performance-related profit sharing in addition to the negotiated base wage. It is shown that in the presence of profit sharing intensified credit market competition will raise equilibrium unemployment, because it induces wage-enhancing effects causing an increase in the outside option available to union members. Equilibrium unemployment is also an increasing function of firms' bankruptcy risks. It is, however, independent of the degree credit market imperfections if the compensation system is unrelated to firms' profits or if there is a monopoly union in the labour market
Outsourcing cost and tax progression under nash wage bargaining with flexible outsourcing by Erkki Koskela( )

10 editions published in 2010 in English and German and held by 32 WorldCat member libraries worldwide

It is analyzed the impacts of outsourcing cost and wage tax progression under labor market imperfections with Nash wage bargaining and flexible outsourcing. With sufficiently strong (weak) labor market imperfection, lower outsourcing cost has a wage-moderating (wage-increasing) effect so that there is a negative (positive) effect on equilibrium unemployment. Higher tax progression, to keep the relative tax burden per worker constant, has a wage moderating and a positive effect on employment and negative effect on outsourcing
Optimal redistributive taxation and provision of public input goods in an economy with outsourcing and unemployment by Thomas Aronsson( )

10 editions published between 2008 and 2009 in English and held by 32 WorldCat member libraries worldwide

This paper concerns optimal redistributive income taxation and provision of a public input good in a two-type model with a minimum wage policy implemented for the low-ability type, where firms may outsource part of the production process abroad, and where outsourcing is substitutable for domestic low-ability labor. Our results show that the incentives for the government to relax the self-selection constraint and to increase the employment among the low-skilled reinforce each other in terms of marginal income taxation; both of them contribute to increase the marginal income tax rate implemented for the low-ability type and decrease the marginal income tax rate implemented for the high-ability type. The appearance of equilibrium unemployment also constitutes an incentive to implement a tax on outsourcing. Without a direct instrument for taxing outsourcing, the government may reduce the amount of resources spent on outsourcing by increased provision of the public input good, which leads to less wage inequality and increased employment. -- Outsourcing ; optimal nonlinear taxation ; public goods ; unemployment
Capital structure, wage bargaining and employment by Erkki Koskela( Book )

18 editions published in 2000 in English and held by 32 WorldCat member libraries worldwide

We offer a unified framework to analyze the determination of employment, employee effort, wages, profit sharing and capital structure when firms face stochastic revenue shocks. We apply a generalized Nash bargaining solution, which extends the wage bargaining literature by incorporating efficiency wage considerations, profit sharing and capital structure. The profit sharing instrument is demonstrated to have positive effort-augmenting and wage-moderating effects, which exactly offset the negative dilution effect in equilibrium. Leverage is shown to reduce employment and to have a strategic commitment value as a wage-moderating mechanism for firms facing unions in bilateral wage negotiations. Finally, some implications for equilibrium unemployment are discussed
Outsourcing and labor taxation in dual labor markets by Erkki Koskela( )

11 editions published in 2008 in English and held by 32 WorldCat member libraries worldwide

We evaluate the effects of international outsourcing and labor taxation on wage formation and equilibrium unemployment in dual labor markets. Outsourcing promotes wage dispersion between the high-skilled and low-skilled workers. Higher domestic low-skilled wage tax, higher payroll tax and lower wage tax exemption increase optimal outsourcing. Outsourcing will reduce equilibrium unemployment of low-skilled workers both in the presence and absence of labor taxation. In the presence of outsourcing, wage tax, tax exemption and payroll tax have an ambiguous effect on equilibrium unemployment. Increasing the degree of tax progression decreases the wage rate and increases the demand of low-skilled workers
Flexible outsourcing and the impacts of labour taxation in European welfare states by Erkki Koskela( )

12 editions published in 2008 in English and German and held by 31 WorldCat member libraries worldwide

In European Welfare States, low-skilled workers are typically unionized, while the wage formation of high-skilled workers is more competitive. To focus on this aspect, we analyze how flexible international outsourcing and labour taxation affect wage formation, employment and welfare in dual domestic labour markets. Higher productivity of outsourcing, lower cost of outsourcing and lower factor price of outsourcing increase wage dispersion between the high-skilled and low-skilled workers. Increasing wage tax progression of lowskilled workers decreases the wage rate and increases the labour demand of low-skilled workers. It decreases the welfare of low-skilled workers and increases both the welfare of high-skilled workers and the profit of firms
Profit sharing, wage formation and flexible outsourcing under labor market imperfection by Erkki Koskela( )

10 editions published in 2010 in English and German and held by 31 WorldCat member libraries worldwide

We combine profit sharing and outsourcing, if the wage for worker is decided by a labor union to analyze how does the implementation of profit sharing affect individual effort and the bargained wage and thus outsourcing? We find that profit sharing and the wage level have an individual effort-augmenting effect and therefore increase productivity. We also find that the wage effect of profit sharing is ambiguous. There is a wage decreasing substitution effect, but on the other hand, there is a wage increasing effect via labor demand elasticity so that outsourcing and employment effects are also ambiguous
Saddles, indeterminacy, and bifurcations in an overlapping generations economy with a renewable resource by Erkki Koskela( Book )

11 editions published between 2000 and 2002 in English and held by 31 WorldCat member libraries worldwide

The authors incorporate a renewable resource into an overlapping generations model with standard, well behaved utility and constant returns to scale production functions. Besides being a factor of production the resource serves as a store of value. They characterize dynamics, efficiency and stability of steady state equilibria and show that the nature of steady state equilibrium depends on the value of the intemporal elasticity of substitution in consumption. An overlapping generations economy with renewable resource can display cycles and indeterminacy even in the absence of externalities or imperfect competition
The role of profit sharing in a dual labour market with flexible outsourcing by Erkki Koskela( )

9 editions published between 2008 and 2009 in English and held by 30 WorldCat member libraries worldwide

We analyze the following questions associated with flexible outsourcing under partly imperfect dual domestic labour markets, where high skilled workers participate in firm's profit via profit sharing: How does the implementation of profit sharing influence flexible outsourcing? What is the relationship between outsourcing cost, profit sharing and wages? We show that profit sharing has a positive effect on low skilled wage and thus an outsourcing enhancing character. The wages of both types of labour are negatively correlated and lower outsourcing cost can increase the wage dispersion by decreasing the low skilled wage and raising the high skilled wage. The overall effect of profit sharing on high skilled wage is ambiguous due to a positive direct effect and a negative indirect effect via the low skilled wage
Irreversible investment under interest rate variability new results by Luis H. R Alvarez( Book )

14 editions published between 2001 and 2003 in English and held by 29 WorldCat member libraries worldwide

The current extensive literature on irreversible investment decisions makes the assumption of constant interest rate. In this paper we study the impact of interest rate and revenue variability on the decision to carry out an irreversible investment project. Given the generality of the considered valuation problem, we first provide a thorough mathematical characterization of the problem and develop some new results. Contrary to what previous literature has suggested we establish that interest rate variability may have a profound decelerating or accelerating impact on investment demand depending on whether the current interest rate is below or above the long run steady state interest rate. Moreover, and importantly, allowing for interest rate uncertainty is shown to decelerate rational investment demand by raising both the required exercise premium of the irreversible investment opportunity and the value of waiting. Finally, we demonstrate that increased revenue volatility strengthens the negative impact of interest rate uncertainty and vice versa
Wicksellian theory of forest rotation under interest rate variability by Luis H.R Alvarez( Book )

9 editions published between 2001 and 2003 in English and held by 26 WorldCat member libraries worldwide

The current literature on optimal forest rotation makes the assumption of constant interest rate. However, the irreversible harvesting decisions of forest stands are typically subject to relatively long time horizons over which interest rates do fluctuate considerably. In this paper we apply the Wicksellian single rotation framework to extend the existing studies to cover the unexplored case of variable interest rate. Given the technical generality of the considered valuation problem, we provide a thorough mathematical characterization of the optimal timing problem and develop new results. We show that even in the deterministic case if the current interest rate deviates from its long-run steady state, interest rate variability changes the rotation age significantly when compared with the constant discounting case. Further, and importantly, allowing for interest rate uncertainty is shown to increase the optimal rotation period when the value of the optimal policy is a convex function of the current interest rate. In line with this finding, we also establish that increased interest rate volatility has a positive impact on the optimal rotation period
A general approach to the stochastic rotation problem with amenity valuation by Luis H. R Alvarez( Book )

8 editions published between 2002 and 2003 in English and held by 26 WorldCat member libraries worldwide

This paper presents a new approach to study the optimal rotation policy with amenity valuation under uncertainty. We first postulate the stochastic forest value and assume plausibly that monetary value of amenities is a continuous and non-negative function of forest value thus presenting the trade-off between timber revenues and amenity values. Second, instead of using a dynamic programming approach, we derive a recursive representation of the total forest value and solve the optimal rotation threshold by applying ordinary non-linear programming techniques. Third, we characterize under certain set of conditions how the properties of both the expected cumulative value and the expected marginal cumulative value, accrued from amenity services, depend on the precise nature of the monetary valuation of amenities and what is the impact of volatility on these concepts. Finally, we illustrate our results explicitly in models based on logistic growth by focusing on the role of amenity valuation and volatility of forest value in the determination of Wicksellian and Faustmannian thresholds. Our theoretical and numerical findings emphasize the crucial importance of the nature of amenity valuation for the impact of higher volatility of forest value on the rotation thresholds
Optimal factor taxation under wage bargaining : a dynamic perspective by Leopold von Thadden( Book )

8 editions published between 2002 and 2003 in English and held by 23 WorldCat member libraries worldwide

The un-intended convergence : how the Finnish unemployment reached the European level : presented at CESifo Conference on Unemployment in Europe: Reasons and Remedies, December 2002 by Erkki Koskela( Book )

7 editions published in 2003 in English and held by 18 WorldCat member libraries worldwide

The Finnish unemployment rose in the early 1990's from three to eighteen percent in four years. Unemployment has then decreased to the average European level, being 8.5 percent in October 2002. In this paper, we describe the shocks leading to this unforeseen increase in unemployment. We then discuss the role of labour market institutions in the adjustment process that has brought unemployment back to 'normal' levels. We argue that these institutions cannot be blamed for the increase in unemployment, but that more flexible institutions could have lead to a more rapid decline in unemployment
Analysis of labor tax progression under heterogeneous domestic labor markets and flexible outsourcing by Erkki Koskela( Book )

9 editions published in 2010 in English and German and held by 14 WorldCat member libraries worldwide

What are the impacts of labor tax reform on wage setting and employment to keep the relative tax burden per low-skilled and high-skilled workers constant in the case of heterogeneous domestic labor markets, i.e. imperfect competition in low-skilled labor and perfect competition in high-skilled labor in the presence of outsourcing? A higher degree of tax progression by raising the wage tax and the tax exemption for the low-skilled workers will decrease the wage rate and increase labor demand of low-skilled workers, whereas it will decrease (increase) employment of high-skilled workers in CES utility function when the elasticity of substitution between consumption and leisure is higher (lower) than one. A higher degree of wage tax progression for the high-skilled worker will have no effect on the high-skilled wage in the presence of CES utility function
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Audience level: 0.67 (from 0.17 for Economics ... to 0.93 for Saddles, i ...)

Economics of forest resources
Alternative Names
Erkki Koskela Finnish economist

Erkki Koskela Fins econoom

Koskela, Erkki A.

Koskela, Erkki A. 1946-

English (222)

German (4)