Juha Kilponen, Research Adviser, Research Unit

Juha Kilponen is Research Adviser in the Research Unit of the Monetary Policy and Research Department. His research interests include dynamic general equilibrium models, optimal monetary policy and robust control, taxation and economic growth.

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Juha Kilponen took his Master's and Licentiate degrees in Social Sciences at the University of Joensuu, where he majored in economics. He completed his PhD in economics with the European University Institute in 1999. Prior to his current responsibilities at the Bank of Finland, Kilponen served as an economist in the forecasting division of the Bank's Economics Department in 2003–2005. Before this, he had been attached to the Government Institute for Economic Research (VTT) as an economist and also worked as a visiting researcher at the Cass Business School in London in 2001, and at the Bank of Finland in 1999 and 2003. Kilponen visited the Directorate General Research at the European Central Bank in autumn 2007 on a five-month contract and 2009–2010 on a 15-month contract. Kilponen worked as Senior Economic Adviser in the European Financial Stability Facility (EFSF) during 2010–2011.

Articles in peer reviewed journals

"Transmission lags and optimal monetary policy" (with Kai Leitemo)
Journal of Economic Dynamics and Control. Volume 35, Issue 4, April 2011, pp. 565–578, available online on 28 December 2010

"Why do growth rates differ? Evidence from cross-country data on private sector production" (with Matti Viren) 
Empirica, published online 31 July 2009

"Model Uncertainty and Delegation: A Case for Friedman's k-percent Money Growth Rule?" (with Kai Leitemo)
Journal of Money Credit and Banking, Vol 40, No. 2-3, 2008

"Un Siglo y Media de Velocidad de Circulación del Dinero en España: Estimatión y Determinantes" (with Concepción Garciá-Iglesias and Albert Carreras)
Revista de Historia Economica (Journal of Iberian and Latin American Economic History) No. 2, 2006

"Taxation and Centralised Wage Setting: The Case of Endogenous Labour Supply"
Scottish Journal of Political Economy, Vol 52. No. 4, September 2005, pp. 587-606

"Labour taxation, public finance and wage-determination" (with Jaakko Kiander and Jouko Vilmunen)
European Journal of Political Economy, Vol. 20, pp. 983-999, 2004

"Labour Market Flexibility in the Euro Area" (with David Mayes and Jouko Vilmunen, Bank of Finland)
European Business Journal, Vol 12, Issue 2, Quarterly, 2000

Articles in scientific books

"Monetary Aspects of Changing Economy" (with Concepción Garciá-Iglesias) in The Road to Prosperity: An Economic History of Finland (Eds. Jari Ojala, Jari Eloranta and Jukka Jalava), Suomen Kirjallisuuden Seura, 2006

"Model Misspecification, Robustness and Monetary Policy" (with Mark Salmon) in Patrick Minford (Ed.), Money Matters, Essays in Honour of Alan Walters, Edwar Elgar Publishing Ltd, 2004. 62-78

"Factor Mobility" (with David Mayes) in the European Union Economics and Policies, 7th Edition, (ed). Ali El-Agraa, Pearson Education, 2004, pp. 311-332

"Factor Mobility" (with David Mayes) in the European Union Economics and Policies, 8th Edition, (ed). Ali El-Agraa, Cambridge University Press, 2007

"Hopeakannasta eurovaluuttaan". ("From Silver to Euro") (with Concepción Garciá-Iglesias) in Muutoksen merkit, (eds.) Jukka Jalava, Jari Ojala, and Jari Eloranta, pp. 264-284, Statistics Finland, 2007 

Work in progress

"Implicit Contracts, Wage Cyclicality and Import Competition". Joint with Torsten Santavirta (5 Nov 2008)

"Productivity and Job Flows: Heterogeneity of New Hires and Continuing Jobs in the Business Cycle". Joint with Juuso Vanhala.
Bank of Finland Research Discussion Papers 15/2009. 

Euler consumption equation with non-separable preferences over consumption and leisure and collateral constraints
Bank of Finland Research Discussion Papers 9/2009 

"The lending channel under optimal choice of monetary policy". Joint with Alistair Milne.
Bank of Finland Research Discussion Papers 33/2007

"GDP at Risk in a DSGE Model: An Application to Banking Sector Stress Testing". Joint with Esa Jokivuolle and Tero Kuusi.
Bank of Finland Research Discussion Papers 26/2007. 

"Discretion and Transmission Lags of Monetary Policy". Joint with Kai Leitemo.
Bank of Finland Research Discussion Papers 8/2007. 

"When Do R&D Subsidies Boost Innovation? - Revisiting the Inverted-U Shape". Joint with Torsten Santavirta.
Bank of Finland Research Discussion Papers 10/2007.