Haku

To study the presence of a risk-taking channel in the US, we build a comprehensive dataset from the syndicated corporate loan market and measure monetary policy using different measures, most notably Taylor (1993) and Romer ...

The paper reviews the Finnish experience of maintaining an explicit currency band since its creation in 1977. The emphasis is on the latter half of the 1980s, which is a period of free capital movements and unregulated ...

The expanded asset purchase programme (EAPP) has had a significant positive impact on macroeconomic developments in Finland. The ECB’s decisions of December 2015 and March 2016 are forecast to boost Finland’s GDP by ...

Of the various factors of uncertainty surrounding the international economic outlook at the present time, a substantial proportion relates to policy choices. Much expectation focuses on US economic policy in the immediate ...

​Many central banks have lowered their interest rates close to zero in response to the crisis since 2008. In standard monetary models the zero lower bound (ZLB) constraint implies the existence of a second steady state in ...

We examine global dynamics under learning in a nonlinear New Keynesian model when monetary policy uses price-level targeting and compare it to inflation targeting. Domain of attraction of the targeted steady state gives a ...

We study the behavior of key macroeconomic variables in the time and frequency domain. For this purpose, we decompose U.S. time series into various frequency components. This allows us to identify a set of stylized facts: ...

Tämän raportin tarkoituksena on antaa suomalaisille talousasiantuntijoille lisätietoja Viron rahatalouden kehityksestä kahden maailmansodan välisenä aikana. Eniten huomiota olen kiinnittänyt Eesti Pankin ja Viron oman ...

Demographic shifts, such as population ageing, have been suggested as possible explanations for the recent decade-long spell of low inflation. We identify age structure effects on inflation from cross-country variation in ...

Talouspolitiikan liikkumavara on Suomessa viimeisen kymmenen vuoden aikana supistunut ja samalla talouspolitiikan työnjako on muuttunut. Talouspoliittiset päätökset Suomen lähialueilla ovat heijastuneet myös talouspoliittiseen ...