Jyväskylä University School of Business and Economics

Jyväskylä International Macro & Finance Research Group

Research Group on International Macro and Finance at the Jyväskylä University School of Business and Economics (JyIMaF)

Research group on International Macro and Finance at the Jyväskylä University School of Business and Economics (JyIMaF) conducts research on topics of international macroeconomics, macro-finance and finance. Research focuses on policy relevant questions in international macro and finance among the advanced and transition countries.

The macro and finance research group boosts research activities on topics related to international macroeconomics and finance, such as global imbalances, determination of exchange rates, international portfolio allocation, and the performance of international stock, fixed income, and currency markets. As a result of global financial crises these questions have become continuously more important.The problems related to the performance of the euro area, increasing co-movement of international stock and other financial market returns and the strengthening role of emerging economies have gained importance in research agendas of economists specialized in macroeconomic and financial market questions.

The group integrates also the other macro related research activities in the JSBE. It welcomes all the important topics related to the performance of the macro economy. The group also coordinates the research on finance related topics conducted in the whole of JSBE. Research activities in finance are mostly related to asset pricing.

The strongest emphasis in the research agenda of the group is on monetary aspects of international finance but the all the topics in empirical macro and asset pricing are an integral part of the interests of the group. The current research topics deal with policy relevant questions in international finance, such as determination of exchange rates, real exchange rate dynamics, central bank policies, international stock market integration and portfolio allocation, problems related to optimum currency area, the role of financial market information in macroeconomic models, determinants of economic growth and inflation and the central bank policy in open and transition economies.

The supervisors of the research group are professors Kari Heimonen and Juha Junttila.

Research Output

Group Members

  • Kari Heimonen, Professor, Vice dean, School of Business and Economics
  • Juha Junttila, Professor, School of Business and Economics
  • Maliranta, Mika, Research Director, Research Institute of Finnish Economy ETLA, Part-time Professor, School of Business and Economics
  • Ari Hyytinen, Professor, School of Business and Economics
  • Esa Mangeloja, Senior Lecturer School of Business and Economics
  • Juhani Raatikainen, Senior Assistant, School of Business and Economics
  • Timo Tohmo, Senior Researcher, School of Business and Economics
  • Heikki Lehkonen, University Lecturer, School of Business and Economics
  • Shabnamjit Hundal, Ph.D. student School of Business and Economics
  • Mika Nieminen, Ph.D. student School of Business and Economics
  • Olli-Petteri Juvonen, Ph.D. student School of Business and Economics
  • Isto Raatikainen,  Ph.D. student School of Business and Economics
  • Annika Kuusela, Ph.D. student School of Business and Economics
  • Samu Kärkkäinen, Ph.D. student School of Business and Economics
  • Jussi Leskinen, Ph.D. student School of Business and Economics

Research affiliates

  • Risto Rönkkö, Ph.D. student, University of Tampere
  • Juuso Vataja, Senior Lecturer, University of Vaasa
  • Elias Oikarinen, University of Turku
  • Aleksandra Maslowska, Ph.D. University of Turku

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    JSBE research seminar

    Seminar for everyone interested in high quality research in economics and business economics (program).