Jonne Lehtimäki

Economist @VMuutiset, Secretariat for EU and International Affairs.
PhD of #Economics @UniTurku.
Prev. @ECB & @ESM_press. Tweets personal.

[Mauri Kotamäki @Mau_And]

On tärkeää, että 🇪🇺 investoinnit puolustusteollisuuteen kohdistuvat pääosin🇪🇺.

Idea on tulla riippumattomammaksi 🇺🇸, johon ei voi täysin luottaa.

Ja nyt Whitaker valittaa protektionismista. Trumpin keittämän tullisopan ja muun sekoilun jälkeen.

Uskomatonta, mutta totta.

[Olli Kärkkäinen @OlliKarkkainen]

Päivän korjaus: Jutussa todettiin aiemmin virheellisesti, että valtiovarainministeriö olisi suosittanut tekemään sopeutukset pääosin leikkaamalla. Todellisuudessa ministeriöllä ei ole kantaa siitä, miten sopeutukset tulisi toteuttaa.

[Jonne Lehtimäki @jonleh]

@RiccardoTrezzi Perhaps of interest; our recent paper argues this very point from the viewpoint of an extreme case:
https://t.co/tlFkTb2o4v

[ESM @ESM_Press]

📊 When labour supply constrains growth, fiscal policy needs a new playbook.

As Europe ages and labour markets tighten, traditional fiscal stimulus is losing effectiveness and can fuel inflation instead of boosting output.

In the latest #ESMBrief, ESM's Kai Behrens and University of Turku's @jonleh show that without labour market reforms, fiscal multipliers can fall below 0.5. But combine public investment with structural reforms and multipliers can exceed 1.5—even in tight labour markets.

🔑 Timing matters. Reforms must precede or accompany investment, as they need time to reduce long-term unemployment and create productive capacity.

This is especially urgent as Europe faces major investment needs in climate transition, digitalisation, and security—all while labour supply becomes more limited. The path forward requires coordinating fiscal policy with structural reforms to ensure public investment translates into real economic growth.

🔗 Full Brief: https://t.co/VE8NzrwZc0

[Kai Behrens @TechnocrtcTakes]

In this new publication with @jonleh, we examine public investment in ageing societies. 🧵

We find that labour-market reforms in ageing societies can be very powerful in raising fiscal #multipliers and supporting growth. [1/5]

https://t.co/D1b11uvEz5

[Jonne Lehtimäki @jonleh]

Fresh ESM brief with @TechnocrtcTakes just out discussing public investment in tight labour markets.
#economics #publicinvestment #econtwitter

[ESM @ESM_Press]

📊 When labour supply constrains growth, fiscal policy needs a new playbook.

As Europe ages and labour markets tighten, traditional fiscal stimulus is losing effectiveness and can fuel inflation instead of boosting output.

In the latest #ESMBrief, ESM's Kai Behrens and University of Turku's @jonleh show that without labour market reforms, fiscal multipliers can fall below 0.5. But combine public investment with structural reforms and multipliers can exceed 1.5—even in tight labour markets.

🔑 Timing matters. Reforms must precede or accompany investment, as they need time to reduce long-term unemployment and create productive capacity.

This is especially urgent as Europe faces major investment needs in climate transition, digitalisation, and security—all while labour supply becomes more limited. The path forward requires coordinating fiscal policy with structural reforms to ensure public investment translates into real economic growth.

🔗 Full Brief: https://t.co/VE8NzrwZc0

[Mauri Kotamäki @Mau_And]

Julkaistiin tutkimusartikkeli @jonleh kanssa asiaan liittyen.

Suomen heikon talouskasvun yhtenä syynä väestön ikääntyminen.

Tavoittelun arvoinen asia, kansantaloudellisesti haastava juttu.

Keskustelu jatkukoon.

#ikääntyminen #kasvu

[Jonne Lehtimäki @jonleh]

@KauppalehtiFi käsittelee kovin ajankohtaista asiaa, osittain myös @Mau_And ja allekirjoittaneen jokin aika sitten ilmestyneen yhteispaperin näkökulmasta.
#taloustiede #julkinentalous
https://t.co/G11tGCYzHB

[Jonne Lehtimäki @jonleh]

@DanielKral1 @zzelenika1 In the RRF the Commission's preliminary assessment is only the first step in the payment request approval process. Actual disbursements take place after several committee stages, usually roughly two months after the Commission assessment.

[Daniel Kral @DanielKral1]

With one year left for the 🇪🇺 pandemic-era Recovery Fund, more than 40% remains to be absorbed (with the low-hanging fruit long gone). Focus on it has also delayed the absorption of the structural funds. Again shows the issue is not the lack of funds but absorption capacity.

[Liz Webster @LizWebsterSBF]

This is seismic.

When the Telegraph - the house paper of Brexit - publishes a 2,000-word obituary admitting:

📉 Brexit has cut UK GDP by up to 8%
📉 Investment down 18%
📉 Productivity down 4%
📉 Employment down 4%
📉 No trade benefits
📉 No regulatory freedom
📉 No immigration control
📉 No growth

…it’s over.

This isn’t Remainers talking.
This is the Telegraph saying Brexit has been an unmitigated economic failure.

The numbers are now so bad, so undeniable, that even the architects of the project can’t keep pretending.

Brexit wasn’t a reset.
It wasn’t sovereignty.
It wasn’t taking back control.

It was a slow economic strangulation: a textbook case of national self-harm, dragging investment, wages, growth and confidence down with it.

We can’t build a future on a foundation of lies.

Time to repair the damage.
Time to rejoin the single market.
Time to put the country first.

[Jonne Lehtimäki @jonleh]

💡New journal article👨‍🦳

Very excited to announce that a new paper co-authored with @Mau_And "Getting too old for this: Population ageing and its economic consequences in Finland" is now available in Economic Analysis and Policy.
#econtwitter #economics
https://t.co/8hA3enemw5

[Jonne Lehtimäki @jonleh]

Fix the Debt—Without Killing Innovation https://t.co/utKOEvEQlw

[Jonne Lehtimäki @jonleh]

💡 New article 💻
"Digitalisation, institutions and governance, and diffusion: mechanisms and evidence"

In this paper we study the diffusion of digital technologies & how it is affected by institutions.
#digitalisation #diffusion #economics

Full article: https://t.co/HupjfLtc4i

[Jonne Lehtimäki @jonleh]

#juhannus #parainen

[Jonne Lehtimäki @jonleh]

💡 New publication
Recently published in Journal of Economics: The fiscal and macroeconomic effects of fiscal rules

The paper studies effects on government debt, budget balances, public investment and economic growth.
#economics #fiscalrules #taloustiede

https://t.co/bjjfNj8aTt

[Spencer Hakimian @SpencerHakimian]

Elon waves the white flag on fixing the deficit.

DOGE goes down in American history as the most ineffective initiative ever.

Obvious 6 months ago.

Obvious now.

[Jonne Lehtimäki @jonleh]

This turned out to be a pretty decent Friday after all.
#taloustiede #economics

[Jonne Lehtimäki @jonleh]

Was going to write a paper on the economic effects of Brexit with the title "The Greatest Unforced Economic Error in History" but suddenly that does not seem 100 % accurate. #economics #tariffs

[Jonne Lehtimäki @jonleh]

💡 New working paper 💡

Published today in the @ecb @ECB_Research working paper series, we study the diffusion of climate technologies and policies and how the effects of institutions and governance aspects.
#economics #climatetechnology #climatepolicy

https://t.co/M13OTrx8IM