Haku

In this paper we challenge the conventional view that increasing working time exibility limits the amplitude of unemployment fluctuations. We start by showing that hours per worker in European countries are much less ...

European banks have been criticized for holding excessive domestic government debt during economic downturns, which may have intensified the diabolic loop between sovereign and bank credit risks. By using a novel bank-level ...

The recent financial crises have brought into focus questions regarding the quality of banks' assets. We study the patterns in banks reserving for and reporting of loan losses in the EU before and after implementation of ...

I estimate the effects of conventional and unconventional monetary policy in the euro area by using a factor-augmented vector autoregression.I complement the standard monetary policy analysis using the short rate with ...

The aim of this study is to explore budget planning in the euro area countries in 2004-2014. Our analyses are based on annual real-time data from the IMF World Economic Outlook publications. As forecasts made by different ...

This study examines aggregated short- and long-term inflation expectations in the unbalanced panel of the ECB Survey of Professional Forecasters. The focus of the study is on heterogeneity of expectations and changing panel ...

Euroopan keskuspankin neuvosto päätti eilen nostaa EKP:n rahapoliittisia ohjauskorkoja 0,25 prosenttiyksiköllä. Käytännössä tämä tarkoittaa, että ensi viikosta alkaen pankkien EKP:sta vakuuksia vastaan hakemista rahapoliittisista ...

Suurin keskuspankkitoiminnan riski liittyy aina toteutettavaan rahapolitiikkaan. Päästäänkö tehdyillä politiikkapäätöksillä haluttuun hintakehitykseen? Ajautuminen inflaatio- tai deflaatiokierteeseen aiheuttaisi merkittäviä ...

This paper first applies the MODWT (Maximal Overlap Discrete Wavelet Transform) to Euro Area quarterly GDP data from 1995 – 2014 to obtain the underlying cyclical structure of the GDP components. We then design optimal ...

Our objective is to examine empirically the behavior of foreign banks regarding real loan growth during a financial crisis for a set of countries in which these banks dominate the banking sectors due primarily to having ...