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Viitteet 21-30 / 278
Pienin askelin kohti normaalia rahapolitiikkaa
(08.04.2011)
Suomen Pankki. Blogi
Suomen Pankki. Blogi
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 ...
Estimating the impact of monetary policy on inequality in China
(13.05.2015)
BOFIT Discussion Papers 17/2015
BOFIT Discussion Papers 17/2015
The paper estimates the impact of monetary policy on income inequality in China. The empirical modelling finds that a battery of monetary indicators, including a monetary overhang measure derived from a money demand ...
Macroeconomic consequences of the real-financial nexus: Imbalances and spillovers between China and the U.S.
(18.01.2015)
BOFIT Discussion Papers 2/2015
BOFIT Discussion Papers 2/2015
Relying on quarterly data since 1998 we estimate, for China and the U.S., small scale econometric models that economize on the number of variables employed and yet are rich enough to provide useful insights about spillover ...
A monetary policy rule for Russia, or is it rules?
(10.02.2016)
BOFIT Discussion Papers 2/2016
BOFIT Discussion Papers 2/2016
We estimate several monetary policy rules for Russia for the period 2003–2015. We find that the traditional Taylor rule describes the conduct of monetary policy in Russia reasonably well, whether coefficients are restricted ...
Optimal policy rules at home, crisis and quantitative easing abroad
(26.10.2016)
BOFIT Discussion Papers 15/2016
BOFIT Discussion Papers 15/2016
This paper examines the international transmission of financial shocks which originate in, and are partially offset by, quantitative easing in a large financially-stressed country. Using a two-country model, we evaluate ...
State dependence of monetary policy across business, credit and interest rate cycles
(06.09.2019)
Bank of Finland Research Discussion Papers 16/2019
Bank of Finland Research Discussion Papers 16/2019
We investigate how the business, credit and interest rate cycles affect the monetary transmission mechanism, using state-dependent local projection methods and data from 18 advanced economies. We exploit the time-series ...
U.S. Macroeconomic Policy Evaluation in an Open Economy Context using Wavelet Decomposed Optimal Control Methods
(10.07.2019)
Bank of Finland Research Discussion Papers 11/2019
Bank of Finland Research Discussion Papers 11/2019
It is widely recognized that the policy objectives of fiscal and monetary policymakers usually have different time horizons, and this feature may not be captured by traditional econometric techniques. In this paper, we ...
Rahapolitiikkaa, mutta millä riskillä?
(31.03.2011)
Suomen Pankki. Blogi
Suomen Pankki. Blogi
Suurin keskuspankkitoiminnan riski liittyy aina toteutettavaan rahapolitiikkaan. Päästäänkö tehdyillä politiikkapäätöksillä haluttuun hintakehitykseen? Ajautuminen inflaatio- tai deflaatiokierteeseen aiheuttaisi merkittäviä ...
Contemporary monetary policy in China: A move towards price-based policy?
(12.03.2015)
BOFIT Discussion Papers 10/2015
BOFIT Discussion Papers 10/2015
This paper focuses on monetary policy in China. A set of different specifications for the monetary policy reaction function are empirically evaluated using monthly data for 1999––2012. Variation is allowed both in the ...
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 ...