Haku
Viitteet 11-20 / 163
Time-frequency characterization of the U.S. financial cycle
(23.05.2016)
Bank of Finland Research Discussion Papers 14/2016
Bank of Finland Research Discussion Papers 14/2016
Despite an increase in research – motivated by the global financial crisis of 2007-08 – empirical studies on the financial cycle are rare compared to those on the business cycle. This paper adds some new evidence to this ...
Formation of inflation expectations in turbulent times : Can ECB manage inflation expectations of professional forecasters?
(28.06.2017)
Bank of Finland Research Discussion Papers 13/2017
Bank of Finland Research Discussion Papers 13/2017
This paper studies the formation of inflation expectations in the euro area. We first analyse the forecast accuracy of ECB inflation projections relative to private sector forecasts. Then, using the ECB Survey of Professional ...
Juanin kansainvälistyminen ei etene suoraviivaisesti
(21.12.2018)
BOFIT Policy Brief 11/2018
BOFIT Policy Brief 11/2018
Talouden kasvun ja kehityksen myötä Kiina on noussut yhä tärkeämmäksi toimijaksi maailmantaloudessa, ja pitkällä tähtäimellä maan rahoitusmarkkinoiden avaamisen ja integroitumisen maailmanmarkkinoihin voidaan nähdä jatkuvan. ...
Can large trade shocks cause crises? The case of the Finnish-Soviet trade collapse
(05.06.2019)
Bank of Finland Research Discussion Papers 9/2019
Bank of Finland Research Discussion Papers 9/2019
We study macroeconomic consequences of a major trade disruption using the example of the Finnish-Soviet trade collapse in 1991. This is a rare case of a well-identified large trade shock in a developed economy. We find ...
Financial depth, debt, and growth
(17.05.2017)
Bank of Finland. Scientific monographs. E 51
Bank of Finland. Scientific monographs. E 51
This thesis applies several econometric methods to a selection of country panels to study how growth is influenced by financial development and government debt. The first part presents the thesis discussion, including a ...
Leverage constraints and real interest rates
(18.11.2014)
Bank of Finland Research Discussion Papers 27/2014
Bank of Finland Research Discussion Papers 27/2014
This paper investigates the macroconomics of real interest rates when there are constraints on debt finance, used both for insurance against income shocks and transferability of resources over time. We amend a standard ...
Risks in China’s financial system
(17.01.2018)
BOFIT Discussion Papers 1/2018
BOFIT Discussion Papers 1/2018
Motivated by growing concerns about the risks and instability of China’s financial system, this article reviews several commonly perceived financial risks and discusses their roots in China’s politico-economic institutions. ...
Does People’s Bank of China communication matter? Evidence from stock market reaction
(25.04.2019)
BOFIT Discussion Papers 9/2019
BOFIT Discussion Papers 9/2019
This paper tests whether the People's Bank of China's communication affects expectations of market participants and matters as a monetary policy instrument. For that purpose, we first rely on a computational linguistic ...
The credit risk of Chinese households : A micro-level assessment
(07.05.2018)
BOFIT Discussion Papers 12/2018
BOFIT Discussion Papers 12/2018
Household borrowing in China has increased considerably in recent years, raising concerns about the household sector’s vulnerability and implications for the stability of the financial system. We construct a number of ...
Financial shocks, financial stability, and optimal Taylor rules
(26.08.2014)
Bank of Finland Research Discussion Papers 21/2014
Bank of Finland Research Discussion Papers 21/2014
We assess the performance of optimal Taylor-type interest rate rules, with and without reaction to financial variables, in stabilizing an economy following financial shocks. The analysis is conducted in a DSGE model with ...