PhD in Economics, University of Helsinki. Ms. sc. in Economics and Business Administrations, University of Oulu.
Research interests: Economic growth, economic cycles and crises, income inequality.
“The seemingly improbable happens all the time in financial markets. In 1997, the DOW had fallen 7.7 percent in one day. (Probability: one in 50 billion). In July 2002, the index recorded three steep falls within several trading days. (Probability: one in four trillion). And on October 19, 1987, the index fell 29.2 percent. The probability of that happening, based on the standard reckoning of financial theorists, was less than one in 10 to the power 50 – odds so small they have no meaning”. -Benoit Mandelbrot (2008)
The mysteries of trend (Peter C. Phillips)