Nea Leinonen

I am a PhD candidate at the University of Helsinki. I am on the job market in 2026-2027.

My research interests lie mainly in macroeconomics, firm dynamics and information frictions. 

Job Market Paper: Labor Market Compliance Cost and Firm Dynamics 

"Using comprehensive Finnish employer–employee register data, I document that furlough use is highly concentrated across firms: most firms never furlough workers, and firm fixed effects explain several times more variation in furlough rates than industry and year effects. Moreover, past furlough use strongly predicts future furlough use. I develop a firm dynamics model that explains the persistence through learning and use it to discipline a quantitative analysis of furlough policy. The cost structure makes the choice between furloughs and layoffs depend on the persistence of the underlying shock and the policy know-how. I calibrate the model to the Finnish data and find that the learning channel explains the empirical patterns, while in a counterfactual analysis furloughs are more evenly distributed across firms."