A Cambridge professor of macroeconomics has been appointed as a Board member of the Bank of Finland.
A Cambridge professor of macroeconomics has been appointed as a Board member of the Bank of Finland.
Professor Seppo Honkapohja was appointed by Mrs Tarja Halonen, President of the Republic of Finland, who made the final decision on the appointment. He will start his five-year post in January 2008.
Having spent the past four years lecturing and doing research at the Faculty of Economics, Professor Honkapohja is now heading to Helsinki to lead the Monetary Policy and Research section in the Bank of Finland. The full spectrum of his duties has not yet been finalised but he will have a chance to continue with his own research.
At Cambridge Professor Honkapohja has been researching modelling of learning and expectations, bounded rationality and their implications for monetary and fiscal policy.
The new appointment means Professor Honkapohja will also say good bye to the Cambridge University Finnish Society's Senior Treasurer post, which he has held for the past three years, but it will take him closer to his family who currently live near Helsinki.
“Cambridge is a unique place to live and I will miss the university community greatly,” said Professor Honkapohja. “I feel sad to leave but sometimes you have to make big decisions in life.”
In line with the Finnish Constitution, the Bank of Finland operates under the guarantee and supervision of the Parliament. The Bank's operations are supervised by Parliamentary Supervisory Council, appointed by the Parliament.
The Bank's executive is its Board and the Board members are nominated by the President, upon the recommendation of the Parliamentary Supervisory Council.
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