Haku
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A model for predicting Finnish household loan stocks
(20.06.2022)
BoF Economics Review 4/2022
BoF Economics Review 4/2022
We propose a new Bayesian VAR model for forecasting household loan stocks in Finland. The model is designed to work as a satellite model of a larger DSGE model for the Finnish economy, the Aino 2.0 model. The forecasts ...
Household debt, liquidity constraints and the interest rate elasticity of private consumption
(25.04.2023)
BoF Economics Review 2/2023
BoF Economics Review 2/2023
We study whether the level of household indebtedness is related to the interest rate elasticity of private consumption. Looking at Finnish aggregate data, we find no robust evidence of increased interest rate elasticity ...