Contact Information at Aalto University.
What used to be known as the Helsinki School of Economics (HSE) became, due to a merger of universities, The Aalto University School of Economics on January 1, 2010. It was renamed The Aalto University School of Business on August 1, 2012.


Research papers

Welfare Effects of Housing Transaction Taxes. With Niku Määttänen.

Returns to Office in National and Local Politics: A Bootstrap Method and Evidence from Finland
with Kaisa Kotakorpi and Panu Poutvaara.
Forthcoming in The Journal of Law, Economics, & Organization.

A Theory of Inter-Industry Poaching

Overworked and Overpaid: Failure in the Market for Job Experience


Secular Rise in Economically Valuable Personality Traits
with Markus Jokela, Matti Sarvimäki, Tuomas Pekkarinen, and Roope Uusitalo.
Proceedings of the National Academy of Sciences, 2017, 114(25), p. 6527-6532. [doi]
Supplementary appendix VoxEU column

Is Economics a House Divided? Analysis of Citation Networks. With Ali Sina Önder.
Economic Inquiry, 2015, 34(3), p. 1491-1505. [doi] [data]

Income Distribution and Housing Prices: An Assignment Model Approach. With Niku Määttänen.
Journal of Economic Theory, 2014, 151, p. 381-410. [doi]
An early version used data from Helsinki instead of the U.S.

Exit Options and Dividend Policy under Liquidity Constraints. With Pauli Murto.
International Economic Review, 2014, 55(1), p.197-221. [doi]
Matlab programs (zip).

Self-Esteem, Moral Capital and Wrongdoing. With Ernesto Dal Bó.
Journal of the European Economic Association, 2013, 11(3), p. 599–663. [doi]

Divisions Within Academia: Evidence from Faculty Hiring and Placement.
Review of Economics and Statistics, 2011, 93(3), p. 1053–1062. [jstor , doi]
Hiring/Placement matrix for economics in 2004: HiringMatrix.csv.
All data files and programs (zip).

Superstars and Mediocrities: Market Failure in the Discovery of Talent.
Review of Economic Studies, 2009, 76(2), p. 829-850. [jstor, doi]
An earlier version circulated under the title “Mediocrity in Talent Markets.”
Web appendix: Model with gradual learning.
Superstars and Mediocrities - a simple example + director's cut of "Applications."

Talk on Uncertain Superstars (28 mins)

The Difference that CEOs Make: An Assignment Model Approach
American Economic Review, 2008, 98(3), p. 642-668. [jstor, doi]

Transfer Fee Regulations and Player Development.
Journal of the European Economic Association, 2006, 4(5), p. 957-987. [jstor, doi]
Accompanying calculations and extensions (
.nb file)

Does Trade Raise Income? Evidence from the Twentieth Century. With Douglas A. Irwin.
Journal of International Economics, 2002, 58(1), p. 1-18. [doi]
The data is available upon request.


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