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The finnish experience on maintaining a currency band in the 1980s
(17.12.1990)
Bank of Finland Research Discussion Papers 26/1990
Bank of Finland Research Discussion Papers 26/1990
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 ...
Competitive deposit rates and bank service charges
(30.07.1989)
Bank of Finland Research Discussion Papers 26/1989
Bank of Finland Research Discussion Papers 26/1989
This paper presents a partial equilibrium model of the determination of deposit rates of interest and bank service charges in a competitive banking industry. It is shown that uncertainty regarding the future use of ...
Devaluation expectations and speculative attacks on the currency
(17.06.1988)
Bank of Finland Research Discussion Papers 8/1988
Bank of Finland Research Discussion Papers 8/1988
In this paper balance-of-payments crises are studied in a framework in which investors do not know the threshol~ level of foreign reserves, the attainment of which implies that the central bank abandons its fixed exchange ...
International capital flows, deregulation and the offset coefficient in Finland 1975-1990
(16.05.1991)
Bank of Finland Research Discussion Papers 7/1991
Bank of Finland Research Discussion Papers 7/1991
This study examines, using variable-parameter regression, how the offset coefficient in the capital flow equation for Finland has changed over time. We found the constant parameter estimate of the offset coefficient to be ...
Ensimmäisestä maailmansodasta toiseen kultakantaan : Katsaus kelluvien valuuttakurssien ajanjaksoon vuosina 1914-1925
(28.04.1993)
Bank of Finland Research Discussion Papers 7/1993
Bank of Finland Research Discussion Papers 7/1993
Ensimmäinen maailmansota vaikutti maailmantaloudellisiin olosuhteisiin mullistavasti: vuosikymmeniä sovellettu kiinteiden valuuttakurssien järjestelmä, kultakantajärjestelmä, lakkasi olemasta.Hallitusten harjoittama ...
Re-opening of banks' certificates of deposit market
(29.04.1990)
Bank of Finland Research Discussion Papers 6/1990
Bank of Finland Research Discussion Papers 6/1990
The paper analyzes the applicability of variable parameter models to examine the behaviour of the interest rates in the market for cd's on the first market day after the bank strike, 7.3.1990, and on the first "normal" ...
Velkakirjojen hinnoittelu arbitraasimallissa
(23.01.1991)
Bank of Finland Research Discussion Papers 3/1991
Bank of Finland Research Discussion Papers 3/1991
Tutkimuksessa tarkastellaan velkakirjan hinnan määräytymistä modernista portfolioteoriasta peräisin olevassa arbitraasikehikossa. Erityisesti käsitellään Coxin, Ingersollin ja Rossin (CIR) intertemporaalista hinnoittelumallia ...
Investment and financing considerations : Evidence from Finnish panel data
(21.01.1994)
Bank of Finland Research Discussion Papers 4/1994
Bank of Finland Research Discussion Papers 4/1994
This paper presents a simple intertemporal model for the determination of corporate investment when the required rate on debt financing depends on the financial risk involved. When the actual lending rate does not fully ...
How are the key Finnish market interest rates determined?
(20.06.1988)
Bank of Finland Research Discussion Papers 11/1988
Bank of Finland Research Discussion Papers 11/1988
Finnish money markets have undergone profound changes in recent years. In particular, the transition to a more market oriented system has changed,the way domestic interest rates are formed. This paper presents and quantifies ...
Rahoitusvaateiden verotus : Kotimaiset rahoitusvaateet 1991 verotuksessa
(16.12.1991)
Bank of Finland Research Discussion Papers 26/1991
Bank of Finland Research Discussion Papers 26/1991
Tässä keskustelualoitteessa julkaistaan kaksi kirjoitusta rahoitusmarkkinoiden verotuksesta Suomessa ja muualla. Rahoitussijoitusten verosäädökset ovat muuttuneet viime vuosien aikana jatkuvasti kaikissa teollistuneissa ...