Haku
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The effects of age and cohort on household saving
(30.08.2022)
BoF Economics Review 6/2022
BoF Economics Review 6/2022
According to the standard life cycle model, household saving rate should peak at the best working age and turn then to decline so that households dissolve their savings after retirement. This study examines, how age and ...
Optimal bank capital requirements : What do the macroeconomic models say?
(29.04.2022)
BoF Economics Review 2/2022
BoF Economics Review 2/2022
The optimal level of banks’ capital requirements has been a key research topic since at least the introduction of the Basel rules in the late 1980s. In this paper, we review the literature, focusing on recent findings from ...
Why is Finland lagging behind in export growth?
(22.06.2022)
BoF Economics Review 5/2022
BoF Economics Review 5/2022
This paper tries to find an answer to the question of why has Finnish exports performed so poorly during the last two decades. It also tries to assess the related question of why is the level of openness of the Finnish ...
A model for predicting Finnish household loan stocks
(20.06.2022)
BoF Economics Review 4/2022
BoF Economics Review 4/2022
We propose a new Bayesian VAR model for forecasting household loan stocks in Finland. The model is designed to work as a satellite model of a larger DSGE model for the Finnish economy, the Aino 2.0 model. The forecasts ...
Has there been a change in household saving behavior in the low inflation and interest rate environment?
(10.05.2022)
BoF Economics Review 3/2022
BoF Economics Review 3/2022
This paper examines whether the determinants of household saving have changed over time and whether they are the same across countries. Using a cross-country data for 34 OECD countries for the 1970-2019, we find that ...
Taming the tides of capital – Review of capital controls and macroprudential policy in emerging economies
(17.01.2022)
BoF Economics Review 1/2022
BoF Economics Review 1/2022
This paper gives an overview on the use of macroprudential policy measures (MPMs) and capital flow management measures (CFMs) by emerging economies, and reviews literature on the effectiveness of these measures in containing ...