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2006 OECD Economic Surveys: Finland 2006

image of OECD Economic Surveys: Finland 2006

This 2006 edition of OECD's periodic survey of the Finnish economy opens with a general assessment of recent economic performance and key economic challenges.  Among the challenges it addresses in more detail in succeeding chapters are ensuring fiscal sustainability in the face of imminent ageing, restricting early retirment to make the pension reform a success, increasing flexibility in centralised wage agreements, and using active and passive labour market measures to meet the employment target. This issue's special feature discusses reducing risks and improving policies in the housing market.

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Increasing Flexibility in Centralised Wage Agreements

The centralised wage agreements have helped to contain inflation. There is evidence that wage increases were more moderate when a central agreement was concluded than in periods when no central agreement was reached. Nevertheless, there is also evidence that centralised wage setting has had some drawbacks in terms of reducing employment among low-skilled and younger workers because of high minimum wage floors.

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