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Analysing euro area inflation outlook with the Phillips curve
(08.09.2021)
BoF Economics Review 5/2021
BoF Economics Review 5/2021
This paper presents the New Keynesian Phillips Curve (NKPC) -based framework for analysing euro area inflation outlook. Our NKPC specification, that relies on market- and surveybased inflation expectations, explains well ...
Bank of Finland's long-run forecast framework with human capital
(16.12.2021)
BoF Economics Review 10/2021
BoF Economics Review 10/2021
Population ageing constitutes a central challenge to Finland. Understanding the Finnish economy’s likely future trajectory and the key sources of growth is important for the design of policies to counteract these adverse ...
Could corporate credit losses turn out higher than expected?
(18.08.2021)
BoF Economics Review 3/2021
BoF Economics Review 3/2021
While corporate credit losses have been low since the start of the Covid-19 pandemic, their future evolution is quite uncertain. Using a forecasting model with a solid track record, we find that the baseline scenario ...