Graduate School


As of 2014 doctoral education system was reformed in Finland and now doctoral schools and programmes are organized within each university.

Until 2014, FDPE used to have 8-12 fellowships for promising and successful doctoral economics students enrolled in the Finnish universities. A successful doctoral student could have a fellowship for a maximum of 4 years. The fellowships were financed by the Ministry of Education and Culture  and the Academy of Finland.

Financial aid



Completed Doctoral Degrees

Doctoral degrees completed by students that were in FDPE graduate school positions in 1995-2015


Saara Hämäläinen (University of Helsinki): "Essays on Market Dynamics and Frictions"
Jari Hännikäinen
(University of Tampere): "Essays of Real-Time Macroeconomics Forecasting"
Juha Itkonen
(University of Helsinki): "Essays on the Economics of Climate Change and Networks"
Jenni Kellokumpu
(University of Jyväskylä): "Essays on Work and Fertility"
Otto Kässi (University of Helsinki): "Studies on Earnings Dynamics and Uncertainty in Return to Education"
Tuomas Matikka (University of Tampere): "Essays on Behavioral Responses to Income Taxes"
Paula Mäkelä (Aalto University): "Essays on Voting and Ex-Ante Incentives"
Emilia Oljemark (Aalto University): "Essays on Strategic Communication and Trust in Principal-Agent Models"
Riikka Savolainen (Aalto University): "Essays on Empirical Political Economics"
Harri Turunen (University of Helsinki): "Essays on Higher Moments in Macroeconomics and Finance"
Nelli Valmari (Aalto University): "Essays on Estimating Production Functions"


Henna Busk (University of Jyväskylä): ”Search in the labour markets. Empirical evidence of the role of technology and sanctions”
Anssi Kohonen
(University of Helsinki): "Propagation of financial shocks: Empirical studies on financial spillovers"
Jani-Petri Laamanen
(University of Tampere): "Essays in Public and Labour Economics: Estimating causal effects using regional variation"
Tanja Saxell
(University of Helsinki): "Industrial organization studies on pharmaceutical markets"
Suvi Vasama
(Aalto University): "Financial Contracting with Correlated Cash-Flows"


Tero Kuusi (Aalto University): "Essays on Information and Communications Technology, Structural Change, and Economic Growth"
Frans Saxén (Hanken School of Economics): "Essays on the Economics of Retailing: Payments, Finance and Vertical Restraints"
Ilkka Ylhäinen (University of Jyväskylä): "Essays on the Economics of Small Business Finance"


Tuomas Malinen (University of Helsinki): "Income Inequality in the Process of Economic Development: An Empirical Approach"
Seppo Orjasniemi (University of Oulu): "Studies on the Macroeconomics of Monetary Union"
Lauri Vilmi (University of Oulu): "Studies in the Macroeconomic Implications of Firm Entry and Exit"


Valtteri Ahti (University of Helsinki):"Econometric Forecasting of Commodity Prices and Exchange Rates"
Tuomas Kosonen (University of Helsinki): "Encouragement and Discouragement: Essays on Taxation and Government Expenditure"
Tahir Mahmood (University of Eastern Finland): "Sector Dynamics, Productivity and Economic Growth in Europe: A Panel Data Analysis"
Torsten Santavirta (Aalto University School of Economics):"Essays on Human Capital Development, Wage Dynamics, and Religious Participation"
Anu Tokila (University of Jyväskylä): "Econometric studies of public support to entrepreneurship"


Ashim Kumar Kar (Swedish School of Economics): "Sustainability and Mission Drift in Microfinance: Empirical studies on mutual exclusion of double bottom lines"
Lotta Väänänen (Aalto University School of Economics): "Human capital and incentives in the creation of inventions – a study of Finnish inventors"


Katja Ahoniemi (Helsinki School of Economics): "Modeling and Forecasting Implied Volatility"
Charlotta Grönqvist (Swedish School of Economics: "Empirical Studies on the Private Value of Finnish patents"
Olli Kauppi (Helsinki School of Economics): "A model of imperfect dynamic competition in the Nordic power market"
Leena Kerkelä (Helsinki School of Ecomics): "Essays on Globalization - Policies in Trade, Development, Resources and Climate Change"
Anichul Khan (University of Helsinki): "Essays on Banking Crises"
Helinä Laakkonen (University of Jyväskylä): "Essays on Asymmetric News Effects on Exchange Rate Volatility"
Elisa Riihimäki (University of Helsinki): "Essays on Economic Integration and Labour Demand"
Matti Sarvimäki (Helsinki School of Economics): "Essays on Migration"
Janne Tukiainen (University of Helsinki): "Empirical Analysis of Competition in Procurement Auctions"


Aki Koponen (Turku School of Economics): "Essays on technological development and competition in local bank markets"
Mika Kortelainen (University of Joensuu): "Production Frontier Methods in Environmental Performance Measurement and Analysis"
Sami Napari (Helsinki School of Economics): "Essays on the Gender Wage Gap in Finland"
Lien Nguyen (University of Helsinki): "Dental Service Utilization, Dental Health Production and Equity in Dental Care: the Finnish Experience"
Sanna Tenhunen (University of Tampere): "Essays on the Theory of Optimal Taxation"
Joacim Tåg (Swedish School of Economics): "Essays on Platforms - Business Strategies, Regulation and Policy in Telecommunications, Media and Technology Industries"
Heli Virta (Helsinki School of Economics):"Essays On Institutions and the Other Deep Determinants of Economic Development"


Helena Holopainen (University of Helsinki): "Essays on corporate governance, stakeholders, and restructuring"
Mikael Juselius (Swedish School of Economics): "A cointegration approach to topics in empirical macroeconomics"
Kaisa Kotakorpi (University of Tampere): "Essays on taxation and regulation"
Tomi Kyyrä (University of Helsinki): "Studies on wage differentials and labour market transitions"
Paavo Miettinen (University of Helsinki): "Strategic information acquisition: Applications to herding and auctions"
Elias Oikarinen (Turku School of Economics): "Studies on housing price dynamics"
Jaakko Simonen (University of Oulu): "The effects of R&D cooperation and labour mobility on innovation"
Tanja Tanayama (Helsinki School of Economics): "Allocation and Effects of R&D Subsidies: Selection, Screening, and Strategic Behavior"


Xavier Carpentier (Helsinki School of Economics): "Essays on the law and economics of intellectual property"
Heli Kortela (University of Oulu): "The predictive power of financial markets: Essays on the relationship between the stock market and real economic activity "
Virve Ollikainen (University of Jyväskylä): "Gender differences in unemployment in Finland"


Marko Korhonen (University of Oulu): "Nonlinearities in exchange rate: evidence from smooth transition regression model"
Kirsti Kuisma (Helsinki School of Economics): "Essays in foreign aid, conflicts, and development"
Ville Mälkönen (University of Helsinki): "Essays on environmental policy and strategic behavior in international trade"
Pekka Sääskilahti (Helsinki School of Economics): "Essays on the economics of networks and social relations"
Jukka Vauhkonen (University of Helsinki): "Essays on financial contracting"
Anna-Leena Asikainen (University of Helsinki): "Reward and Punishment: Essays on Party Popularity and Economy"
Kristiina Huttunen (University of Helsinki): "Empirical Studies on Labour Demand, Wages and Job Displacements"


Jari Viitanen (University of Joensuu): "Essays on Intertemporal Consumption Behaviour in Finland"
Juha Virrankoski (Helsinki School of Economics): "Essays in Search Activity"


Marja-Liisa Halko (University of Helsinki): "Essays on the Financing of Unemployment Benefits"
Mika Haapanen (University of Jyväskylä): "Studies on the Determinants of Migration and the Spatial Concentration of Labour"
Petri Mäki-Fränti (University of Tampere): "Essays on Monetary Policy"
Tom Björkroth (Åbo Akademi University): "Engine or Wheels of our Prosperity? Infrastructure and Economic Growth and Effects of Liberalisation of the Finnish Telecommunications Market"
Essi Eerola (University of Helsinki): "Essays on the Design of Environmental Policy"
Mikko Mustonen (University of Helsinki): "Essays on the Economics and Communication Technologies: Copyleft, Networks and Compatibility"


Chiara Lombardini-Riipinen (University of Helsinki): "Essays on Environmental Quality Competition in a Vertically Differentiated Duopoly Model"
Aku Penttinen (Swedish School of Economics): "Peso Problems in the Level and Volatility of Stock Returns"
Panu Poutvaara (University of Helsinki): "Essays on the Political Economy of Education and Income Redistribution"


Ari Hyytinen (Helsinki School of Economics): "Essays on Bank Screening and Market Power in Loan Markets"
Marita Laukkanen (University of California): "Economic Insight into Fish Wars: Cooperation and Conflicts in the Management of Shared Fishery Resources"
Kenneth Snellman (Åbo Akademi University): "Studies of Appointments and Incentives under Imperfect Information"
Jussi Tolvi (University of Turku): "Outliers in Nonlinear Series Econometrics"


Jari Järvinen (University of Tampere): "Essays on Industry Portfolios and Macroeconomic News"
Pekka Larkomaa (University of Oulu): "Long-Term Overreaction in the Finnish Stock Market"
Juha-Pekka Niinimäki (University of Helsinki): "Bank Panics, Deposit Insurance and Liquidity"


Juha Junttila (University of Oulu): "Essays on Inflation Expectations and Interest Rates in Modern Finnish Financial Markets"
Petri Niininen (Helsinki School of Economics): "High Technology Investment, Growth and Productivity"
Tuomas Takalo (University of Helsinki): Essays on the Economics of Intellectual Property Protection"


Merja Kauhanen (University of Jyväskylä): "Job Security Provisions, Wage Setting and Unemployment Persistence"
Heli Koski (University of Oulu): "Economic Analysis of the Adoption of the Technologies with Network Externalities"
Jukka Pirttilä (University of Helsinki): "Essays on Environmental Taxation in a Second-Best World"


Seppo Laakso (University of Helsinki): "Urban Housing Prices and the Demand for Housing Characteristics"
Matti Liski (Helsinki School of Economics): "On the Regulation of Pollution and Polluters' Long-Term Compliance Strategies"