Haku

Timely and accurate assessment of current macroeconomic activity is crucial for policymakers and other economic agents. Nowcasting aims to forecast the current economic situation ahead of official data releases. We develop ...

Central banks worldwide are currently exploring so called Central Bank Digital Currencies (CBDC). The Avant smart card system created by the Bank of Finland in the 1990’s can be considered the world’s first CBDC and the ...

This study examines the Twitter policies and use of European central banks. Almost every European central bank maintains an institutional Twitter account, but tweeting activity, tweet content and usage restrictions on ...

In this paper, we estimate a potential output model for Finland using an unobserved component model. The model builds on a production function approach, and features price and wage Phillips curves, Okun’s law and several ...

This study examines the level, distribution and development of market power in Finland between 1975 and 2016. The paper applies the methods proposed by Hall (2018a) and Hall (2018b). In contrast to some other international ...

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 ...

Keskuspankit ovat perinteisesti laskeneet liikkeeseen seteleitä yleisön käytettäviksi. Digitalisaation myötä setelit alkavat olla teknisesti vanhentunut maksuväline, ja jotkut keskuspankit ovat harkinneet vähittäismaksamiseen ...

When the central bank sets monetary policy according to a conventional or modified Taylor rule (which is known as the Taylor Principle), does this deliver the best outcome for the macroeconomy as a whole? This question is ...

We assess the macroeconomic impact of pandemic-related monetary policy measures of the ECB. Conditioning on counterfactual interest rate paths that would have materialised in the absence of the policies, the macroeconomic ...

In this paper we analyze features of the recent business cycle with a New Keynesian small open economy DSGE model with labour market frictions and wage rigidity. The model complements the existing analytical tools of the ...