Haku
Viitteet 1-2 / 2
Global Uncertainty
(11.02.2021)
Bank of Finland Research Discussion Papers 1/2021
Bank of Finland Research Discussion Papers 1/2021
We estimate a novel measure of global financial uncertainty (GFU) with a dynamic factor framework that jointly models global, regional, and country-specific factors. We quantify the impact of GFU shocks on global output ...
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 ...