Associate Professor, Department of Economics, 
Aalto University School of Business  and 	   
 Helsinki GSE 
 
Vice Director (co-PI), Education for the Future Flagship Center
 
Associate Research Professor (part-time), VATT Institute for Economic Research 
Research Fellow, IZA
External Research Fellow, CReAM
 matti.sarvimaki[a]aalto.fi 
Ekonominaukio 1, 02150 Espoo, Finland 
Working papers
 Randomization as an Incentive Device: Evidence from Public Procurement of Immigrant Integration Services    | Slides    
with Hanna Pesola and 
Tuomo Virkola  
 The Local Scarring Effect of Negative Trade Shocks: Evidence from the Collapse of Finnish-Soviet Trade  | Slides   
   
with Arnaud Costinot and Jonathan Vogel (Original version: Exposure(s) to Trade and Earnings Dynamics)
 The Impact of Childhood Immigrant Exposure on Adult Intermarriage   
 with Aino Kalmbach and 
 Liam Wren-Lewis 
 Forced Migration and Long-Term Mental Disorders in post-WWII Finland   
with Henri Salokangas, 
	Jari Haukka, 
	Pekka Martikainen and 
	 Jaana Suvisaari 
  
  
Agglomeration in the Periphery |
  Appendix 
  [resting]
  
Publications / forthcoming
 Intergenerational Spillovers of Integration Policies: Evidence from Finland's Integration Plans  
   
with Hanna Pesola  
 
Review of Economics and Statistics, forthcoming 
 
  
 The Making of Social Democracy: The Economic and Electoral Consequences of Norway's 1936 Folk School Reform  
   
with Daron Acemoglu, Tuomas Pekkarinen and Kjell Salvanes   
   
Journal of the European Economic Association, 2025, 23(1): 119–158 
 
 Slides   |  Project Syndicate Column    
 Paths to Integration: 
Earnings, Skill Investments, and Outmigration across Immigrant Admission Categories  
   
with Hanna Pesola  and Tuomo Virkola    
 
Scandinavian Journal of Economics, 2025, 127(4), 742–764 
 
  
Social Interaction in the Family: Evidence from Investors' Security Holdings  
with Samuli Knüpfer and Elias Rantapuska  
  
Review of Finance, 2023, 27(4): 1297–1327 
 Habit Formation and the Misallocation of Labor: Evidence from Forced Migrations   
   
with Roope Uusitalo and 
Markus Jäntti    
  
Journal of the European Economic Association, 2022, 20(6): 2497–2539 
 
 Appendix   |  Slides  
  
Immigration History, Entry Jobs and the Labor Market Integration of Immigrants
  
with  Laura Ansala  and Olof Åslund     
 
Journal of Economic Geography, 2022, 22(3): 581–604 
Slides  
  | IZA summary
 The Local Economic Impacts of Regeneration Projects: Evidence from UK's Single Regeneration Budget 
with Steve Gibbons and Henry Overman  
  
Journal of Urban Economics, 2021, 122, 103315
Managing Refugee Protection Crises:
Policy Lessons from Economics and Political Science
  
with  Dominik Hangartner and Judith Spirig     
 
Journal of the Finnish Economic Association, 2021, 2(1): 1–24
Post-Secondary Education and Information on Labor Market Prospects: A Randomized Field Experiment  
 
 with Sari Pekkala Kerr, Tuomas Pekkarinen and Roope Uusitalo  
 
Labour Economics, 2020, 66, 101888 
 
Treatment material |
Preprint 
 Age at Arrival, Parents and Neighborhoods: Understanding the Educational Attainment of Immigrants' Children  
 with  Laura Ansala   and  Ulla Hämäläinen   
 
Journal of Economic Geography, 2020, 20(2): 459–480  
 Appendix 
|  Preprint  
 
Secular Rise in Economically Valuable Personality Traits   
with Markus Jokela, 
Tuomas Pekkarinen, 
 Marko Terviö and 
Roope Uusitalo   
 
Proceedings of the National Academy of Sciences, 2017, 114(25): 6527–6532  
  Appendix  |
  Vox column 
Formative Experiences and Portfolio Choice: Evidence from the Finnish Great Depression  
 
  with Samuli Knüpfer and Elias Rantapuska 
  
  Journal of Finance, 2017, 72(1): 133–166  
  Appendix 
The Evolution of Social Mobility: Norway during the 20th Century  
  
with Tuomas Pekkarinen and Kjell Salvanes   
  
Scandinavian Journal of Economics, 2017, 119(1): 5–33  
  
  Appendix    
  
The Impact of Forced Migration on Mortality: a Cohort Study of 242,075 Finns in 1939-2010 
  with  Jari Haukka, 
  Pekka Martikainen and 
  
  Jaana Suvisaari 
  
  Epidemiology, 2017, 28(4): 587–593 
Labor Market Integration of Refugees in Finland 
Nordic Economic Policy Review, 2017, 7(1): 91–114 
 Integrating Immigrants: The Impact of Restructuring Active Labor Market Policies 
  
with Kari Hämäläinen
 Journal of Labor Economics, 2016, 34(2): 479–508 
Assimilation to a Welfare State: Labor Market Performance and 
Use of Social Benefits by Immigrants to Finland 
 Scandinavian Journal of Economics, 2011, 113(3): 665–688
Selected work in progress
 Refining Early Childhood Education: Finland's Two-Year Pre-School Experiment 
with  	Ramin Izadi, 
		Maarit Alasuutari, 
		Oskari Harjunen,
		Mirjam Kalland,
		Mikko-Jussi Laakso,
		Marja-Kristiina Lerkkanen,
		Pekka Räsänen, and
		Katariina Salmela-Aro.
		Status: field work in progress.  AEA RCT Registry 
 
 Teachers at Work: Preventing Social Exclusion of Immigrants 
with  	Michela Carlana, 
		Mikko Silliman, and
		Marco Tabellini
		
 Status: field work in progress.  AEA RCT Registry  
		
 
 Oma linja school intervention: Improving Post-Compulsory Educational Choices 
 with Hanna Pesola and 
  Maria Sauval 
 Status: field work completed.  AEA RCT Registry 
 Forced displacement shapes personality traits across generations 
with  	Dominik Hangartner, 
		Ilona Lahdelma, and
		Maarit Olkkola 
		
 The Impact of Foreign Acquisitions on Wages and Compensation 
 
with David Autor, Tuomas Kosonen and Tuomo Virkola
Selected policy papers
 
Taloustieteilijät EDUCA-lippulaivassa 
Kansantaloudellinen aikakauskirja 2/2025: 100-107 
 
Mitä tiedämme maahanmuuttajien kotoutumispolitiikan vaikuttavuudesta? 
with
 Hanna Pesola and 
 Tuomo Virkola. 
Talous & Yhteiskunta 4/2024 
 1990-luvun laman pitkät jäljet 
with
 Kristiina Huttunen,
Eloranta and Uusitalo (eds):  
Ankarat ajat. Suomalaisten talouskriisien pitkä historia.  Gaudeamus, 2024. 
 
Pienituloisten perheiden lapset joutuvat kiusatuksi muita useammin  
with
 Mikko Silliman,
 Ellen Sahlström and Niina Nurkka. 
Kansallinen koulutuksen arviointikeskus. Tiivistelmät 4: 2024.
 
Koto-SIB -kokeilun vaikutukset ja käytännön toteutus 
with
Risto Karinen, Nella Koivula, Tiina Koivula, Olli Oosi,
 Hanna Pesola and 
 Tuomo Virkola. 
Publications of the Ministry of Economic Affairs and Employment 2024:33.
English translation:  
Impacts and practical implementation of the Koto-SIB experiment 
 
Eri syistä maahan muuttaneiden työllistyminen Suomessa 
with
 Hanna Pesola and 
 Tuomo Virkola. 
Publications of the Ministry of Economic Affairs and Employment 2024:9.
Kaksivuotisen esiopetuksen kokeilu: Väliraportti
with  	Maarit Alasuutari, 
		Oskari Harjunen,
		Anna Holvio,
		Ramin Izadi, 
		Mirjam Kalland,
		Julia Kuusiholma-Linnamäki,
		Mikko-Jussi Laakso,
		Marja-Kristiina Lerkkanen,
		Heli Muhonen, 
		Pekka Räsänen,
		Katariina Salmela-Aro,
		Lotta Saranko, 
		Mimmu Sulkanen, 
		Katja Upadyaya.
Publications of the Ministry of Education and Culture, Finland 2023:19 
Rekisteriaineistojen hyödyntäminen peruskoulujen tarveperusteisessa resurssoinnissa
with  Ramin Izadi,  Venla Bernelius and Oskari Nokso-Koivisto.
Kaksivuotinen  esiopetus  -kokeilu.  Tutkimussuunnitelma 
with  	Ramin Izadi, 
		Elisa Luukkonen and 
		Oskari Nokso-Koivisto. 
		Aalto Economic Institute.
Vaikutusarvioinnit osaksi päätöksentekoa - Miten varmistamme politiikassa, että teemme oikeita asioita 
with  Oskari Nokso-Koivisto and Otto Toivanen. Edistys-raportti 01/2019.
  
Parempi tapa valita korkeakouluopiskelijat 
with Tuomas Pekkarinen. VATT Policy Brief 1-2016
 
Kotoutumissuunnitelmien vaikutukset maahanmuuttajien lasten koulutusvalintoihin 
with  Kari Hämäläinen and 
 Hanna Pesola. 
Publications of the Ministry of Economic Affairs and Employment 43/2015 
  
Maahanmuuttajien integroituminen Suomeen  
with  Laura Ansala, 
 Essi Eerola, 
 Kari Hämäläinen, 
Ulla Hämäläinen  , 
 Hanna Pesola and 
 Marja Riihelä. VATT Analyysi 2, 2014.
 
Integroitumista vai eriytymistä? Maahanmuuttajalapset ja -nuoret Suomessa  
with Laura Ansala 
and  Ulla Hämäläinen. 
KELA Työpapereita 56/2014
 
Muuttoliikkeet, työmarkkinat ja julkinen talous 
in Martikainen, Saukkonen, Säävälä (ed.): 
Muuttajat: Kansainvälinen muuttoliike ja suomalainen yhteiskunta. Gaudemus, 2013.
 
Vievätkö maahanmuuttajat kantaväestön työpaikat? 
Talous & Yhteiskunta 4/2010: 10-15.
 Maahanmuuton taloustiede: lyhyt johdatus 
Kansantaloudellinen aikakauskirja 3/2010: 253-270.
Teaching
 
Taloustieteen perusteet (Principles of Economics) 
History of Economic Growth and Crises 
Principles of Empirical Analysis (with Miri Stryjan) 
Integration of Immigrants 
Labor Economics (with Tuomas Pekkarinen)
International Economics 
