Haku
Viitteet 11-20 / 34
Conditional risk and predictability of Finnish stock returns
(28.10.1992)
Bank of Finland Research Discussion Papers 31/1992
Bank of Finland Research Discussion Papers 31/1992
This paper studies the driving forces of predictable variation in Finnish stock returns. The dynamics of Ferson and Harvey's (1991) methodology are extended and applied within the Sharpe-Lintner CAPM. We find that market ...
Dynamic models of the roundwood market in Finland
(16.12.1988)
Bank of Finland Research Discussion Papers 31/1988
Bank of Finland Research Discussion Papers 31/1988
We contribute to the discussion of the reasons why the supply of roundwood has lagged behind the growth of forests since the early 1970s. Our dynamic models of the roundwood market provide some evidence that the very low ...
Incomplete exchange rate pass-through and hysteresis in trade : A survey of recent theories and an empirical study of export pricing of Finnish paper manufacturies
(01.10.1992)
Bank of Finland Research Discussion Papers 29/1992
Bank of Finland Research Discussion Papers 29/1992
This paper analyzes factors affecting the pass-through from exchange rates to import prices. The prevailing market ·structure, product differentiation, intertemporal optimization and the role of expectations regarding the ...
Granger causality between money, output, prices and interest rates : Some cross-country evidence from the period 1875 - 1984
(22.02.1989)
Bank of Finland Research Discussion Papers 11/1989
Bank of Finland Research Discussion Papers 11/1989
This paper studies the Granger causality between money, output, prices and nominal interest rates by making use of long time series from 11 countries. Empirical analyses, both in the time and frequency domain, suggest that ...
Real exchange rate as an unobservable variable
(13.03.1989)
Bank of Finland Research Discussion Papers 13/1989
Bank of Finland Research Discussion Papers 13/1989
The Finnish real exchange rate is estimated as a latent variable in a model of current account determination. The measure thus constructed behaves in the 70's much like the measures most often used (relative unit labour ...
Monetary policy and housing prices
(21.07.1988)
Bank of Finland Research Discussion Papers 15/1988
Bank of Finland Research Discussion Papers 15/1988
In this paper we study the determination of housing prices. We are particularly interested in how monetary policy affects housing prices. First we derived the explanatory variables for housing prices from the utility ...
Comparing inflation and price level targeting: the role of forward guidance and transparency
(07.04.2015)
Bank of Finland Research Discussion Papers 9/2015
Bank of Finland Research Discussion Papers 9/2015
We examine global dynamics under learning in New Keynesian models with price level targeting that is subject to the zero lower bound. The role of forward guidance is analyzed under transparency about the policy rule. ...
Optimal monetary policy under bounded rationality
(19.04.2018)
Bank of Finland Research Discussion Papers 9/2018
Bank of Finland Research Discussion Papers 9/2018
Optimal monetary policy under discretion, commitment, and optimal simple rules regimes is analyzed through a behavioral New Keynesian model. Flexible price level targeting dominates under discretion; flexible inflation ...
Macroprudential measures and housing markets: a note on the empirical literature
(20.06.2016)
Bank of Finland Research Discussion Papers 18/2016
Bank of Finland Research Discussion Papers 18/2016
The global financial crisis has led to increased attention on the relationship of household indebtedness and systemic risks. As a result, macroprudential measures aimed at reducing the risks have been introduced in many ...
House prices, household saving and financial market liberalization in Finland
(25.10.1991)
Bank of Finland Research Discussion Papers 22/1991
Bank of Finland Research Discussion Papers 22/1991
This paper describes some institutional aspects of housing, markets and analyzes the price development of owner-occupied housing and its interaction with the household saving ratio in Finland during the last two decades. ...