Haku
Viitteet 1-2 / 2
Are fiscal multipliers estimated with proxy-SVARs robust?
(13.07.2020)
Bank of Finland Research Discussion Papers 13/2020
Bank of Finland Research Discussion Papers 13/2020
How large are government spending and tax multipliers? The fiscal proxy-SVAR literature provides heterogeneous estimates, depending on which proxies - fiscal or non-fiscal - are used to identify fiscal shocks. We reconcile ...
Forecasting expected and unexpected losses
(21.12.2020)
Bank of Finland Research Discussion Papers 18/2020
Bank of Finland Research Discussion Papers 18/2020
Extending a standard credit-risk model illustrates that a single factor can drive both expected losses and the extent to which they may be exceeded in extreme scenarios, ie “unexpected losses.” This leads us to develop a ...