Juha Tarkka, Adviser to the Board

​ ​ ​ Address
Snellmaninaukio
00170 HELSINKI
FINLAND
Telephone
010 831 2581 (national)
+358 10 831 2581 (international)
 
Postal address
PO Box 160
FI – 00101 HELSINKI
FINLAND
Fax
010 831 2294 (national)
+358 10 2294 (international)
 
Email
Firstname.Lastname@bof.fi
 
 

 Introduction

 
Juha Tarkka (Dr. Soc.Sc.) is Adviser to the Board at the General Secretariat of the Bank of Finland. He works on the bank's bicentennial history project and advises the Governor on developing the bank's strategy.
 

 CV

 

Dr. Juha Tapio Tarkka

Present and past employment

Adviser to the Board, General Secretariat, Bank of Finland 2004– present
Head of Research Department, Bank of Finland 1996–2004
Research Supervisor, Research Department, Bank of Finland 1989–1995
Acting Head of Division, Economics Department, Bank of Finland 1984–1985
Research Officer, Research Department, Bank of Finland 1980–1988
Postgraduate Research Fellow, Department of Economics, University of Helsinki 1979

Education
Dr.Soc.Sc. (economics), University of Helsinki, 1995. Thesis "Approaches to Deposit Pricing" supervised by prof. Seppo Honkapohja and prof. Erkki Koskela
Lic.Soc.Sc. (economics), University of Helsinki, 1985, including completion of the Yrjo Jahnsson Foundation Postgraduate Programme in Economics given by prof. Willem Buiter and prof. Marcus Miller
M.Soc.Sc. (economics), University of Helsinki, 1979. Included as minor subjects statistics and mathematics.
Finnish matriculation examination 1974
U.S. High School Diploma, Hemlock High School, Hemlock, Mich. 1973

Other training
High level management training programme of the ESCB "Transformational Leadership" 2001
Management training programme of the ESCB "Heading for Leadership" 1996

Languages
Finnish native
English excellent
Swedish good
German basic

Academic and professional associations
President of the Finnish Economic Association (Kansantaloudellinen Yhdistys) 2005–2006
Member of the executive council of the Finnish Economic Association 2003–2006

Research interests
Monetary Policy, economic modelling, payment systems, history of money and central banking

 

Publications

Refereed articles

 

Schmiedel, Heiko; Malkamäki, Markku and Tarkka, Juha: Economies of scale and technological development in securities depository and settlement systems. Journal of Banking and Finance,Vol. 30, No. 6, 2006.

Tarkka, Juha: Pricing of transaction services: The distortionary effects of taxation. Research in Banking and Finance,Volume 2, 2002.

Tarkka, Juha. The effects of EMU on the Finnish economy: Some early conjectures. The Economic and Social Review, Vol. 33, No. 2, 2002

Shy, Oz and Tarkka, Juha: The market for electronic cash cards. Journal of Money, Credit, and Banking, Vol. 34, No. 2, 2002.

Mayes, David and Tarkka, Juha: Transparency in European central banks: The role of forecasts. Current Politics and Economics of Europe, Vol. 11, No. 3, 2002.

Tarkka, Juha and Åkerholm, Johnny: Fiscal federalism and European monetary integration. In Honkapohja, Seppo and Ingberg, Mikael (eds.): Macroeconomic Modelling and Policy Implications. Contributions to Economic Analysis, Vol. 216, North-Holland 1993.

Männistö, Hanna-Leena; Tarkka, Juha and Willman, Alpo: The structure and foundations of the BOF4 model. In Bergman, Lars and Olsen, Øystein (eds.): Economic Modelling in the Nordic Countries. Contributions to Economic Analysis, Vol. 210, North-Holland 1992.

Tarkka, Juha and Virén, Matti: Population shocks and employment. Testing the labor market equilibrium hypothesis. Economics Letters, Vol. 23, No. 1, 1987.

Kanniainen, Vesa and Tarkka, Juha: On the shock-absorption view of money: international evidence from the 1960's and 1970s. Applied Economics, Vol. 18, No.10, 1986.

Tarkka, Juha: Monetary policy in the BOF3 quarterly model of the Finnish economy. Economic Modelling, Vol. 2, No. 4, 1985.

Haavisto, Esko and Tarkka, Juha: Pankkiluottojen korkoporrastus keskikorkosäännöstelyn vallitessa. Liiketaloudellinen Aikakauskirja/Finnish Journal of Business Economics, Vol. 35, No. 3, 1985. (Setting the interest rates on loans when the average lending rate is regulated. In Finnish with English summary)

Kanniainen, Vesa and Tarkka, Juha: The role of capital flows in the adjustment of money demand: The case of Finland. Empirical Economics, Vol. 9, No, 2. 1984.

Lybeck, Johan, Juha Tarkka et al.: A comparison of the dynamic properties of five Nordic macroeconometric models. Scandinavian Journal of Economics, Vol. 86, No. 1, 1984.

 

Books

 

Kuusterä, Antti and Tarkka, Juha: Bank of Finland 200 years, Vol. II. Parliament's bank. Otava, 2012.
(Also published in Finnish as: Suomen Pankki 200 vuotta, osa II. Parlamentin Pankki, Otava, 2012.)

Kuusterä, Antti and Tarkka, Juha: Bank of Finland 200 years, Vol. I. Imperial cashier to central bank. Otava, 2011.
(Also published in Finnish as: Suomen Pankki 200 vuotta, osa I. Keisarin kassasta keskuspankiksi. Otava, 2011.)

Mayes, David; Tarkka, Juha et al. The future of financial markets. Palgrave, 2006.

Tarkka, Juha: Approaches to Deposit Pricing: A Study in the Determination of Deposit Interest Rates and Bank Service Charges. Bank of Finland Series E:2, 1995.

Tarkka, Juha: Raha ja rahapolitiikka. Gaudeamus, 1993 (Money and monetary policy. A textbook. In Finnish)

Suominen, Matti and Tarkka, Juha: Rahoituspalvelujen markkinat ja tuotanto Suomessa. Bank of Finland Series A:82, 1991 (The market for and the production of financial services in Finland. In Finnish with English abstract)

Tarkka, Juha and Willman, Alpo et al.: The BOF4 quarterly model of the Finnish economy. Bank of Finland Series D:73, 1990.

Tarkka, Juha: Rahoitus- ja valuuttamarkkinoiden liberalisoinnista esitettyjä näkökohtia. Bank of Finland A:66, 1987 (Viewpoints on liberalizing the financial and foreign exchange markets. In Finnish)

Tarkka, Juha: Suomalaiset pankkiluottomarkkinat ja uusklassinen rahateoria. Bank of Finland, Series D:61, 1986 (Finnish bank loan markets and neoclassical monetary theory. In Finnish with English abstract).

Tarkka, Juha and Willman, Alpo (eds.): The BOF3 quarterly model of the Finnish economy. Bank of Finland, Series D:59, 1985 (parallel edition in Finnish also published in the same series as: Suomen kansantalouden neljännesvuosimalli BOF3).

Tarkka, Juha; Tolonen, Leo; Mäkelä, Matti and Valkki, Ismo: Kymen jääkäripataljoona 60 vuotta. Sanomalehti Oy Kotka, 1981 (Kymi infantry battalion 60 years. In Finnish)

 

Articles (a selection)

 

Tarkka, Juha: Pitkä tie kullasta paperirahaan. Ulkopolitiikka, Vol. 49, No. 4 (2012). (The long road from gold to paper money. In Finnish)

Tarkka, Juha: Razvitie monetarnoy sistemy Velikogo knyazhestva Finlyandskogo. Vestnik Banka Rossii, No. 30 (1199), 26.05.2010. (The Development of the Monetary System of the Grand Duchy of Finland. In Russian)

Tarkka, Juha: Suomalaisen taloustieteen tila kriisin jälkeen. Kansantaloudellinen aikakauskirja (The Finnish Economic Journal), Vol. 106, No. 1. (2010) (Finnish Economics After the Crisis. in Finnish)

Tarkka, Juha ja Ikonen, Vappu: Suomen Pankki. In Savolainen, Raimo (ed.) Oma hallinto. Kansakuntaa rakentamassa 1809-2009. Edita (2009) (The Bank of Finland. In Finnish)

Tarkka, Juha: Financial Regulation in Finland from the 1950s Until the 1980s: Stability at What Price? In Gigliobianco, Alfredo and Toniolo, Gianni (eds.): Financial Market Regulation in the Wake of Financial Crises: The Historical Experience. Banca d’Italia Workshops and Conferences Vol. 1. (November 2009).

Tarkka, Juha: The North European Model of Early Central Banking. In Mayes, David and Wood, Geoffrey (eds.): Designing Central Banks. Routledge 2009.

Mayes, David and Tarkka, Juha: Transparency in European Central Banks: The Role of Forecasts (chapter 4, pp. 57–81)
EU Economic Policy at the Dawn of the Century, ed. Patrick M. Crowley, Nova Science Publishers, 2008  

Tarkka, Juha: Keskuspankin viestintä rahaliitossa. Euro ja Talous, Vol. 16, No. 3 (2008). (Central Bank Communication in a Monetary Union. In Finnish)

Tarkka, Juha: Erik Dahmén and Finnish Economic Policy. In Karlson, Nils, Storm, Per, Johansson, Dan and Mölleryd, Bengt (eds.): Erik Dahmén och det industriella företagandet. Ratio 2007. 

Tarkka, Juha: Vielä makrotaloustieteen tilasta. Kansantaloudellinen Aikakauskirja (The Finnish Economic Journal), Vol. 102, No. 2 (2006). (More on the state of macroeconomics. In Finnish)

Tarkka, Juha: Onko suomalainen makrotaloustiede kriisissä? Kansantaloudellinen Aikakauskirja (The Finnish Economic Journal), Vol. 102, No. 1 (2006). (Is Finnish macroeconomics in crisis? In Finnish)

Spolander, Mikko and Tarkka, Juha: Taxation and employment: international comparisons. Bank of Finland Bulletin, Vol. 79: No. 1 (2005). Also published in Finnish as "Verotus ja työllisyys: kansainvälistä vertailua" in Euro&Talous, Vol. 13, No.1 (2005).

Hasan, Iftekhar ; Lothian James R: and Tarkka, Juha : Overview of the special issue on banking, development and structural change. Journal of International Money and Finance Vol. 23, No. 3, (2004).

Kontulainen, Jarmo ; Mayes, David and Tarkka, Juha : Monetary policy assumptions in central bank forecasts. Bank of Finland Bulletin Vol. 78, No. 4 (2004).

Kontulainen, Jarmo and Tarkka, Juha: Suomi ja Euroopan rahapoliittinen järjestelmä. In Loikkanen, Heikki; Pekkarinen, Jukka and Vartia, Pentti: Kansantaloutemme rakenteet ja muutos. Taloustieto 2002 (Finland and the European monetary policy system. In Finnish)

Tarkka, Juha . Discussion. A comment on "Infrastructure investment and economic activity" by Helmut Seitz. In Deutsche Bundesbank (ed.): Investing today for the world of tomorrow. Springer, 2001.

Tarkka, Juha and Kortelainen, Mika : Analysing monetary policy credibility with a model of the euro area. Bank of Finland Bulletin , Vol. 75, No 3 (2001).

Tarkka, Juha and Mayes, David : The value of publishing official central bank forecasts. Bank of Finland Bulletin , Vol. 74, No. 1 (2000).

Tarkka, Juha and Ikonen, Vappu: The Bank of Finland. In Selovuori, Jorma (ed.): Power and Bureaucracy in Finland 1809-1998. Edita, 1999. (Parallel editions published also in Finnish, German and Swedish)

Tarkka, Juha: Korot. In Andreasson, Kristina and Helin, Vesa (eds.): Suomen vuosisata. Tilastokeskus, 1999. (Interest rates. In Finnish)

Tarkka, Juha: Valuuttakurssit. In Andreasson, Kristina and Helin, Vesa (eds.): Suomen vuosisata. Tilastokeskus, 1999. (Exchange rates. In Finnish)

Tarkka, Juha. Deflaatiovaara tutkimuskohteena. Kansantaloudellinen Aikakauskirja (The Finnish Economic Journal) Vol. 95, No. 4 (1999). (The danger of deflation as an object of research. In Finnish with English summary)

Kontulainen, Jarmo and Tarkka, Juha: Rahapolitiikka ja inflaatio. In Loikkanen, Heikki; Pekkarinen, Jukka and Siimes, Suvi-Anne (eds.): Kansantaloutemme. Rakenteet ja muutos. Taloustieto Oy, 1998. (Monetary policy and inflation. In Finnish)

Tarkka, Juha: Issues in the pricing of transaction deposit accounts. Bank of Finland Bulletin, Vol. 70, No. 1 (1996).

Tarkka, Juha: Taloustiede ja talletuskilpailu. Kansantaloudellinen Aikakauskirja (The Finnish Economic Journal) Vol. 91, No. 3 (1995). (Economics of competition in the deposit market. In Finnish)

Tarkka, Juha: Ulkoisten tekijöiden merkitys Suomen talouskriisissä. Kansantaloudellinen Aikakauskirja (The Finnish Economic Journal) Vol. 90, No. 1 (1994). (The impact of external factors in the Finnish economic crisis. In Finnish)

Tarkka, Juha: Onko suhdannepolitiikka vain tahdon asia? Kansantaloudellinen Aikakauskirja (The Finnish Economic Journal) Vol. 89, No. 2 (1993). (Is countercyclical policy only a matter of will? In Finnish)

Tarkka, Juha: Experiences of the Bank of Finland's econometric simulation model. In Uuspää, Pentti and Pulkkis, Göran (eds.): Information technology and economic modelling. VTT Symposium 135. Technical Research Centre of Finland, 1992.

Suominen, Matti and Tarkka, Juha; Trends in the demand for and pricing of banking services in Finland. Bank of Finland Bulletin, Vol. 65, No.10 (1991).

Tarkka, Juha: Rahan reaalipoliitikko – Klaus Wariksen haastattelu. Kansantaloudellinen Aikakauskirja (The Finnish Economic Journal), Vol. 86, No. 1 (1990). (Realpolitik of money – an interview with Klaus Waris. In Finnish)

Tarkka, Juha: A governor for turbulent times: Centenary of the birth of Risto Ryti. Bank of Finland Bulletin, Vol. 63, No. 2. (1989).

Tarkka, Juha: Rahataloudellinen tutkimus. In Kosonen, Kalevi; Huttunen, Juhani. and Vartiainen, H. J. (eds.): Rahatalouden käsikirja. Gummerus 1989. (Monetary research. In Finnish).

Tarkka, Juha and Alhonsuo, Sampo: Rahoitustoiminnan tuottavuus ja tehokkuus Suomessa. In Pankkitoiminnan kannattavuus, tehokkuus ja riskit Suomessa. Bank of Finland, Series A:72, 1989. (The productivity and efficiency of financial services in Finland. In Finnish with English abstract)

Tarkka, Juha and Hämäläinen, Timo: Kassavarantovelvoite rahapolitiikan välineenä. In Kassavarantotalletukset ja rahapolitiikka. Bank of Finland, Series A:70, 1989. (Reserve requirement as an instrument of monetary policy. In Finnish)

Tarkka, Juha: Kahlitun rahan aika – Suomen rahoitusmarkkinoiden säännöstelyn vuosikymmenet. In Honkapohja, Seppo and Suvanto, Antti (eds.) : Raha, inflaatio ja talouspolitiikka. Valtion painatuskeskus, 1988. (The times of enchained money – the decades of regulation of Finnish financial markets. In Finnish)

Åkerholm, Johnny and Tarkka, Juha: Kan de nordiska länderna föra en självständig penningpolitik? In Stenkula, Peter (ed.): Nordiska Ekonomiska Forskningsrådets Årsbok 1986. Nordiska ministerrådets skriftserie 55, 1987. (Can de Nordic countries conduct an independent monetary policy? In Swedish)

Åkerholm, Johnny and Tarkka, Juha: Finland. In Stenius, Marianne (ed.): Penningpolitik i Norden. Nordiska Ekonomiska Forskningsrådet, 1987 (Finland. In Swedish)

Myhrman, Rolf; Kinnunen, Juha; Lyytikäinen, Ilkka; Sourama, Heikki and Tarkka, Juha: Palkanlisäyksen kokonaistaloudelliset vaikutukset kolmessa ekonometrisessä mallissa. Kansantaloudellinen Aikakauskirja (The Finnish Economic Journal), Vol. 82, No. 3 (1986). (The macroeconomic effects of wage increases in three econometric models. In Finnish)

Willman, Alpo and Tarkka, Juha: The BOF3 quarterly model of the Finnish economy. Bank of Finland Monthly Bulletin, Vol. 59, No. 11 (1985).

Pikkarainen, Pentti; Tarkka, Juha and Willman, Alpo: Korkojen kokonaistaloudellisista vaikutuksista BOF3-mallissa. Kansantaloudellinen Aikakauskirja (The Finnish Economic Journal), Vol. 81, No. 2 (1983). (On the macroeconomic effects of interest rates in the BOF3 model. in Finnish)

Tarkka, Juha: Rahapoliittisesta itsenäisyydestä. Taloustieteellisen seuran vuosikirja 1983/84, 1983. (On autonomy of monetary policy. In Finnish)

Tarkka, Juha and Pikkarainen, Pentti: Hinnat, palkat ja avoimen sektorin kasvu. Kansantaloudellinen Aikakauskirja (The Finnish Economic Journal), Vol. 79, No. 2 (1983). (Prices, wages and open sector growth. In Finnish)

Tarkka, Juha: Suomen kansantalous ja uusklassinen synteesi: BOF3-mallin rakenne ja lähtökohdat. Taloustieteellisen seuran vuosikirja 1983, 1982. (The Finnish economy and the neoclassical synthesis: the foundations of the BOF3 model. In Finnish)

Bingham, Gavin, Halttunen, Hannu, Kostiainen, Seppo and Tarkka, Juha: Some developments in financial and monetary research in Finland. Kansantaloudellinen Aikakauskirja (The Finnish Economic Journal), Vol. 77, No. 3 (1981).

Kostiainen, Seppo and Tarkka, Juha: Rahapolitiikan vaikutuksista luotonsäännöstelyn vallitessa. Unitas Vol. 51, No. 3 (1980). (The effects of monetary policy under credit rationing. In Finnish)

Unpublished discussion papers (a selection)

 

Tarkka, Juha and Kortelainen, Mika: International economic spillovers and the liquidity trap. Bank of Finland Discussion Papers No. 18/2005.

Shy, Oz and Tarkka, Juha: Stock exchange alliances, access fees and competition. Bank of Finland Discussion Papers No. 22/2001.

Tarkka, Juha and Mayes, David: The value of publishing official central bank forecasts. Bank of Finland Discussion Papers 22/1999.

Tarkka, Juha: A model of common monetary policy. Bank of Finland Discussion Papers 15/1997.

Alhonsuo, Sampo; Söderlund, Kjell Peter and Tarkka, Juha: Joukkovelkakirjalainojen tuotto Suomessa 1948–1986. Bank of Finland Discussion Papers No. 10/1989. (Bond yields in Finland, 1948–1986. In Finnish with English abstract)

Tarkka, Juha: A test of credit rationing in Finland. An experiment with the data of 1967–1977. University of Helsinki, Economics Department Research and Discussion Papers No. 130. 1979.