Haku

This paper tests for the presence of a credit channel (particularly a bank-lending sub-channel) for monetary policy in the housing market.We argue that the importance of this channel for investment in residential housing ...

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 ...

Mallin tärkeimpiin ominaisuuksiin kuuluvat Blanc-pääomavarallisuuden arvostaminen pääomatulojen nykyarvona, työmarkkinoiden limittäiset Calvo-sopimukset, ja neoklassinen tarjonta Cobb-Douglas hyötyfunktiolla.Mallin ensimmäinen ...

This study discusses the effects of financial intermediation, banks' moral hazard and monitoring on monetary policy transmission in a simple model where borrowers are dependent on loans granted by banks with superior ...