Haku
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External adjustment in small open economies : Some recent experience
(15.06.1988)
Bank of Finland Research Discussion Papers 6/1988
Bank of Finland Research Discussion Papers 6/1988
The paper deals with the adjustment problems that small open economies face in a financially integrated world. Particular attention is paid to the assignment of different policy instruments te the achievement different ...
Interest rate elasticity of aggregate consumption : a time varying parameter approach
(20.12.1990)
Bank of Finland Research Discussion Papers 28/1990
Bank of Finland Research Discussion Papers 28/1990
The aim of this note is to examine whether the empirically documented positive interest rate elasticity of aggregate consumption in Finland is an artefact due to the previously widespread credit rationing. The aim is carried ...
Korko- ja valuuttakurssijousto talouden sopeutumisessa
(31.03.1988)
Bank of Finland Research Discussion Papers 1/1988
Bank of Finland Research Discussion Papers 1/1988
Tässä tutkimuksessa tarkastellaan sekä teoreettisesti että empiirisesti koron ja/tai valuuttakurssin jouston suotavuutta talouden eristämiseksi erilaisilta häiriöiltä. Kurssisopeutumisen tarve riippuu ratkaisevasti eräistä ...
Revisiting intertemporal elasticity of substitution in a sticky price model
(09.06.2021)
Bank of Finland Research Discussion Papers 9/2021
Bank of Finland Research Discussion Papers 9/2021
Macroeconomic models typically assume additively separable preferences where consumption enters the utility function in a logarithmic form. This restriction implies that consumption growth is highly sensitive to movements ...