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Juha Tervala
Director of the Bachelor’s Programme in Economics, University of Helsinki

Contact Information:


Office: Economicum (Arkadiankatu 7), room A319
Office hour: Mondays at 13-14

Postal address:
P.O. Box 17
FI-00014 University of Helsinki

Phone (work) +358 50 3182244
Phone (mobile) +358 50 5862968

Recent working papers:

“Building the Education Revolution: The Employment Effects of Fiscal Stimulus in Australia” (with Timothy Watson) (download) Australian National University, CAMA Working Paper No. 58/2022 (2022)

“The JobKeeper Payment: How Good Are Wage Subsidies?” (with Timothy Watson and Tristram Sainsbury) (download) Australian National University, CAMA Working Paper No. 36/2022 (2022)

“Hysteresis and Full Employment in a Small Open Economy” (with Timothy Watson) (download) Australian National University, CAMA Working Paper No. 46/2021 (2021)

Recent publications:

“Current Account Adjustment of the Euro Area in the 2010s: Causes and Policies” (with Sandra Pasch) (download) Open Economies Review forthcoming

“Hysteresis and Fiscal Stimulus in a Recession” (with Timothy Watson) (download) Journal of International Money and Finance vol. 124, 102614 (2022)

“Hysteresis and the Welfare Costs of Recessions”(download) Economic Modelling, vol. 95, pp 136-144 (2021)

“Welfare Multiplier of Public Investment” (with Giovanni Ganelli) (download) IMF Economic Review vol. 68, pp 390-420 (2020)

“U.S. Monetary Policy and China’s Exchange Rate Policy during the Great Recession” (download) International Journal of Finance and Economics vol 24, pp 113-130 (2019)

“Hysteresis and Fiscal Policy” (with Philipp Engler) (download) Journal of Economic Dynamics and Control vol 93, pp. 39-53 (2018)

“Third Country Effects of Fiscal Devaluations” (with Philipp Engler and Sandra Pasch) (download) Economics Letters vol 165, pp. 13–16 (2018)

“Fiscal Devaluation in a Monetary Union” (with Philipp Engler, Giovanni Ganelli and Simon Voigts) (download), IMF Economic Review vol 65 (2) pp. 241–272 (2017)