Welcome to Eero Tölö's Research page

About me:

I am a Senior Advisor in the Norwegian Ministry of Finance. My work involves among other things mathematical modelling of the Norwegian economy and the Government Pension Fund. I previously worked at the Bank of Finland and studied at the Helsinki University of Technology/Aalto University, London School of Economics, and University of Helsinki. This site is a compilation of my research work with links to articles and to some related materials.

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Blogs:

Research:

More articles (including some non-scholarly texts) are available through my Google Scholar profile

Economics:

Publications:

• Brasch, T. von, Frankovic, I., Tölö, E., 2022. “Corporate taxes and investment when firms are internationally mobile,” International Tax and Public Finance. Available at: https://doi.org/10.1007/s10797-022-09748-8


• Tölö, E., Viren, M., 2021. “How much do non-performing loans hinder loan growth in Europe?” European Economic Review, Vol. 136, 103773. Available at: https://doi.org/10.1016/j.euroecorev.2021.103773


• Tölö, E., Jokivuolle, E., Viren, M., 2021. “Have Too-Big-To-Fail Expectations Diminished? Evidence from the European Overnight Interbank Market,” Journal of Financial Services Research. Available at: https://doi.org/10.1007/s10693-021-00351-2


• Tölö, E., 2020. “Predicting financial crises with recurrent neural networks,” Journal of Financial Stability, Volume 49, August 2020, 100746. Available at: https://doi.org/10.1016/j.jfs.2020.100746 [Code available here][Data available here]


• Tölö, E., Jokivuolle, E., Viren, M., 2017. “Do banks' overnight borrowing rates lead their CDS Price?” Journal of Financial Intermediation, Vol. 31, pp. 93–106. Available at: https://dx.doi.org/10.1016/j.jfi.2017.05.006


• Tölö, E., Laakkonen, H., Kalatie, S., 2018. “Indicators used in setting the countercyclical capital buffer,” International Journal of Central Banking, Vol. 14, No. 2, pp. 51–111. Available at: https://www.ijcb.org/journal/ijcb18q1a2.htm


• Virtanen, T., Tölö, E., Viren, M., Taipalus, K., 2018. “Can bubble theory foresee financial crises?” Journal of Financial Stability, Vol. 36, pp. 66–81. Available at: https://dx.doi.org/10.1016/j.jfs.2018.02.008


• Kauko, K., Tölö, E., 2020. “On the Long-Run Calibration of the Credit-to-GDP Gap as a Banking Crisis Predictor,” Finnish Economic Papers Vol. 29, No. 2: pp. 1-12. Available at: https://www.taloustieteellinenyhdistys.fi/wp-content/uploads/2020/11/FEP_2_2020_Kauko_Tolo_WEB.pdf


• Kauko, K., Tölö, E., 2020. “Crisis prediction with differenced relative credit,” Applied Economics Quarterly Vol. 65, Iss. 4: pp. 277-297. Available at: https://doi.org/10.3790/aeq.65.4


• Tölö, E., 2021. “Financial fragility - Empirical studies on crises and reforms,” Doctoral dissertation, Valtiotieteellisen tiedekunnan julkaisuja. Available at: http://urn.fi/URN:ISBN:978-951-51-6336-3



Unpublished working papers:

• Tölö, E., Miettinen, P., “How do shocks to bank capital affect lending and growth?” Working paper available at: http://urn.fi/URN:NBN:fi:bof-201811282145

Natural sciences:

Publications:

• Reint et al., 2021, “Rapid genome editing by CRISPR-Cas9-POLD3 fusion,” eLife, 10, e75415. Available at: https://doi.org/10.7554/eLife.75415


• Tölö, E. Harju, A., 2010. “Reduced density-matrix functional theory in quantum Hall systems,” Physical Review, B 81, 075321. Available at: https://dx.doi.org/10.1103/PhysRevB.81.075321


• Saarikoski, H., Tölö, E., Harju, A., Räsänen, E., 2008. “Pfaffian and fragmented states at ν = 5⁄2 in quantum Hall droplets,” Physical Review, B 78, 195321. Available at: https://dx.doi.org/10.1103/PhysRevB.78.195321


• Tölö, E., Harju, A., 2009. “Effects of thickness in quantum dots in strong magnetic fields,” Physical Review, B 79, 075301. Available at: https://dx.doi.org/10.1103/PhysRevB.79.075301


• Drut, J, Lähde, T. A., Tölö, E., 2010. “Graphene: from materials science to particle physics,” Proceedings of Science, 105.Available at: https://dx.doi.org/10.22323/1.105.0006


• Tölö, E., Harju, A., 2010. “Optimal confinement potential in quantum Hall droplets,” Physica, E 42, 1050. Available at: https://dx.doi.org/10.1016/j.physe.2009.10.031


• Bårdsen, G., Tölö, E., Harju, A., 2009. “Magnetism in tunable quantum rings,” Physical Review, B 80, 205308. Available at: https://dx.doi.org/10.1103/PhysRevB.80.205308


• Tölö, E., Harju, A., 2009. “Quantum Hall droplet laterally coupled to a quantum ring,” Physical Review, B 80, 045303. Available at: https://dx.doi.org/10.1103/PhysRevB.80.045303


• Hancock, Y., Suorsa, J., Tölö, E., Harju, A., 2008. “Fractional periodicity and magnetism of extended quantum rings,” Physical Review, B 77, 155103. Available at: https://dx.doi.org/10.1103/PhysRevB.77.155103


• Tölö, E., Suorsa, J., Harju, A., 2007. “Two interacting electrons in a square quantum dot,” Physica, E 40, 1038. Available at: https://doi.org/10.1016/j.physe.2007.09.133


• Tölö, E., 2010. “Nanostructures in the quantum Hall regime,” Dissertations of Department of Applied Physics, 162. Available at: http://urn.fi/URN:NBN:fi:aalto-2020120554977