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Price level targeting with evolving credibility
(23.02.2018)
Bank of Finland Research Discussion Papers 5/2018
Bank of Finland Research Discussion Papers 5/2018
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 ...
Extreme events and optimal monetary policy
(06.02.2018)
Bank of Finland Research Discussion Papers 4/2018
Bank of Finland Research Discussion Papers 4/2018
This paper studies the implication of extreme shocks for monetary policy. The analysis is based on a small-scale New Keynesian model with sticky prices and wages where shocks are drawn from asymmetric Generalized Extreme ...
External adjustment in small open economies : Some recent experience
(15.06.1988)
Bank of Finland Research Discussion Papers 6/1988
Bank of Finland Research Discussion Papers 6/1988
The paper deals with the adjustment problems that small open economies face in a financially integrated world. Particular attention is paid to the assignment of different policy instruments te the achievement different ...
Monetary policy and housing prices
(21.07.1988)
Bank of Finland Research Discussion Papers 15/1988
Bank of Finland Research Discussion Papers 15/1988
In this paper we study the determination of housing prices. We are particularly interested in how monetary policy affects housing prices. First we derived the explanatory variables for housing prices from the utility ...
Comparing inflation and price level targeting: the role of forward guidance and transparency
(07.04.2015)
Bank of Finland Research Discussion Papers 9/2015
Bank of Finland Research Discussion Papers 9/2015
We examine global dynamics under learning in New Keynesian models with price level targeting that is subject to the zero lower bound. The role of forward guidance is analyzed under transparency about the policy rule. ...
Optimal monetary policy under bounded rationality
(19.04.2018)
Bank of Finland Research Discussion Papers 9/2018
Bank of Finland Research Discussion Papers 9/2018
Optimal monetary policy under discretion, commitment, and optimal simple rules regimes is analyzed through a behavioral New Keynesian model. Flexible price level targeting dominates under discretion; flexible inflation ...
Bank of Finland Bulletin : Bank of Finland articles on the economy 3/2022
(28.10.2022)
Bank of Finland. Bulletin 3/2022
Bank of Finland. Bulletin 3/2022
Energy will dominate euro area’s economic outlook for a long time yet
(28.10.2022)
Bank of Finland. Bulletin 3/2022
Bank of Finland. Bulletin 3/2022
The euro area has been drawn into an energy crisis that could have a long-term impact on the area’s economy. The escalating price of energy is increasing euro area import prices, weakening the current account and further ...
Rahapolitiikalla ja finanssipolitiikalla on molemmilla tärkeä roolinsa inflaation taltuttamisessa
(13.10.2022)
Euro & talous. Blogi
Euro & talous. Blogi
Nopea hintojen nousu ja sen hillitsemiseksi valitut toimet ovat puhuttaneet Suomessakin viime viikkoina. Energiainflaatio kiihtyi euroalueella Eurostatin tuoreimpien syyskuussa julkaistujen lukujen mukaan 40,8 prosenttiin ...
Euro & talous : Suomen Pankin ajankohtaisia artikkeleita taloudesta 3/2022
(29.09.2022)
Euro & talous 3/2022
Euro & talous 3/2022