A heated debate about research policy recommendations has recently taken place among financial experts. The researchers responsible for these recommendations have produced a number of publications, including the “rescue package”. However, the nature of these recommendations and how they should be received remains a topic of controversy.
The dispute began when Helsinki University’s professor of social policy, Heikki Hiilamo, criticized a publication by The Economic Research Institute Etla. Hiilamo accused the institute of selective research and questioned the integrity of its tax recommendations. In response, Etla’s CEO defended the quality of their research and accused Hiilamo of bias against party politics.
To better understand this controversy and gain insights from experts in the field, HS sought the opinions of three economics researchers. Mika Maliranta emphasized the importance of conducting balanced and systematic reviews of research literature in policy recommendations. Marita Laukkanen stressed the need to take into account all previous research when making recommendations, while Kaisa Kotakorpi highlighted the difficulty in providing unambiguous policy recommendations based on economic research due to differences in country contexts and reliability of studies.
Ultimately, this debate highlights the complexity and challenges associated with translating economic research into clear and effective policy recommendations that benefit public welfare as a whole.