Haku
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A monopoly union model of wage determination with taxes and endogenous capital stock : an empirical application to the finnish manufacturing industry
(21.11.1990)
Bank of Finland Research Discussion Papers 24/1990
Bank of Finland Research Discussion Papers 24/1990
The paper formulates a model of wage determination in accordance with the notion of a monopoly union determining wages after which the firm decides on employment. The novelty is to incorporate investment and capital decisions ...
Income distribution and government finances in the BOF4 model of the Finnish economy
(30.04.1990)
Bank of Finland Research Discussion Papers 7/1990
Bank of Finland Research Discussion Papers 7/1990
This paper describes how income distribution and government finances are modelled i n BOF4, a quarterly econometric model of the Bank of Finland. The equations eomprising the ineome distribution and government finanees ...
Floating exchange rates and capital mobility
(28.02.1990)
Bank of Finland Research Discussion Papers 5/1990
Bank of Finland Research Discussion Papers 5/1990
Re-opening of banks' certificates of deposit market
(29.04.1990)
Bank of Finland Research Discussion Papers 6/1990
Bank of Finland Research Discussion Papers 6/1990
The paper analyzes the applicability of variable parameter models to examine the behaviour of the interest rates in the market for cd's on the first market day after the bank strike, 7.3.1990, and on the first "normal" ...
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 ...
Suomalaisten fox-indeksioptioiden hinnoittelu Monte Carlo -simulointia käyttäen
(14.06.1990)
Bank of Finland Research Discussion Papers 13/1990
Bank of Finland Research Discussion Papers 13/1990
The empirical work of this study consists of three parts: a time series analysis of the Finnish FOX stock index, Monte Carlo simulation of the theoretical index option prices and a comparison of the performance of the ...
An analysis of advance effects of anticipated policy actions : Recent results with the finnish MICRO-QMED model
(10.07.1990)
Bank of Finland Research Discussion Papers 15/1990
Bank of Finland Research Discussion Papers 15/1990
This paper reports some policy simulations carried out with the Finnish MICRO-QMED model. This rational expectations model built at the Economics Department of Bank of Finland is used to evaluate the short-run effects of ...
Government size and economic growth : some evidence from a market price approach
(13.06.1990)
Bank of Finland Research Discussion Papers 12/1990
Bank of Finland Research Discussion Papers 12/1990
This paper presents a simple model of aggregate demand in current market prices, in which public sector employment affects aggregate (and private) demand via the total output, the lump-sum taxes and the valuation of public ...
Financial markets in the BOF4 model of the Finnish economy
(12.01.1990)
Bank of Finland Research Discussion Papers 1/1990
Bank of Finland Research Discussion Papers 1/1990
This paper describes the modelling of financial markets and the balance of payments in BOF4, a quarterly macroeconomic model developed by the Bank of Finland. The short-term interest rate is determined as a result of the ...
Macroeconomic foundations and simulation properties of the BOF4 quarterly model of the Finnish economy
(26.01.1990)
Bank of Finland Research Discussion Papers 2/1990
Bank of Finland Research Discussion Papers 2/1990
This paper describes the structure and simulation properties of the Bank of Finland's macroeconometric model BOF4. BOF4 is a quarterly, medium-sized macro model of the Finnish economy, consisting of about 70 behavioural ...