Haku

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 ...

I construct a novel measure of household uncertainty based on survey data for European countries. I show that household uncertainty shocks do not universally behave like negative demand shocks. Notably, household uncertainty ...

We analyze the economic performance of different monetary policy strategies, or rules, in a low interest rate environment, using simulations with a DSGE model which has been estimated for the euro area. We study how often ...

I study the effects of the Covid-19 pandemic on business confidence in 11 Euro area countries and its consequent impact on economic activity. To obtain causal effects, I instrument business confidence with domestic household ...

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

This paper analyses the role of inflation expectations in the euro area. On one hand, the question is how inflation expectations affect both inflation and output,and, on the other hand, how inflation expectations reflect ...

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 ...

I provide a measure of household uncertainty available for European Union (EU) countries. The measure draws from the same consumer survey data used to construct widely-used consumer sentiment indices. I find that increases ...

This paper analyses the procyclicality of euro area total factor productivity and its role in business cycle amplification by estimating a medium-scale DSGE model with endogenous productivity mechanism on euro area data. ...