Haku
Viitteet 21-30 / 38
Enforcement of banking regulation and the cost of borrowing
(18.10.2018)
Bank of Finland Research Discussion Papers 19/2018
Bank of Finland Research Discussion Papers 19/2018
We show that borrowing firms benefit substantially from important enforcement actions issued on U.S. banks for safety and soundness reasons. Using hand-collected data on such actions from the main three U.S. regulators and ...
Democratic development and credit : “Democracy doesn't come cheap” But at least credit to its corporations will be
(11.10.2018)
Bank of Finland Research Discussion Papers 18/2018
Bank of Finland Research Discussion Papers 18/2018
Does democratization reduce the cost of credit? Using global syndicated loan data from 1984 to 2014, we find that democratization has a sizeable negative effect on loan spreads: a one-point increase in the zero-to-ten ...
The Aino 3.0 model
(26.05.2020)
Bank of Finland Research Discussion Papers 9/2020
Bank of Finland Research Discussion Papers 9/2020
In this paper we present Aino 3.0, the latest vintage of the dynamic stochastic general equilibrium (DSGE) model used at the Bank of Finland for policy analysis. Aino 3.0 is a small-open economy DSGE model at the intersection ...
State dependence of monetary policy across business, credit and interest rate cycles
(06.09.2019)
Bank of Finland Research Discussion Papers 16/2019
Bank of Finland Research Discussion Papers 16/2019
We investigate how the business, credit and interest rate cycles affect the monetary transmission mechanism, using state-dependent local projection methods and data from 18 advanced economies. We exploit the time-series ...
Risky debt, bad bank and government
(30.11.1993)
Bank of Finland Research Discussion Papers 16/1993
Bank of Finland Research Discussion Papers 16/1993
The purpose of this paper is to put forward a valuation framework for interest rate sensitive claims. We concentrate on secured loans. The value of the secured loan depends upon the coupon rate, the maturity, the term ...
When uncertainty decouples expected and unexpected losses
(26.01.2022)
Bank of Finland Research Discussion Papers 4/2022
Bank of Finland Research Discussion Papers 4/2022
A parsimonious extension of a well-known portfolio credit-risk model allows us to study a salient stylized fact – abrupt switches between high- and low-loss phases– from a risk-management perspective. As uncertainty about ...
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 ...
Financial shocks, financial stability, and optimal Taylor rules
(26.08.2014)
Bank of Finland Research Discussion Papers 21/2014
Bank of Finland Research Discussion Papers 21/2014
We assess the performance of optimal Taylor-type interest rate rules, with and without reaction to financial variables, in stabilizing an economy following financial shocks. The analysis is conducted in a DSGE model with ...
Fixed rate loan contracts, maturity transformation and competition in the deposit market
(23.06.1993)
Bank of Finland Research Discussion Papers 12/1993
Bank of Finland Research Discussion Papers 12/1993
This paper suggests that the optimal contract in lending under asymmetric information is a fixed rate loan contract. It is shown that deposit banks have an advantage to provide maturity transformation with fixed rate ...
Yritysten likvidien varojen kysyntä Suomessa 1960-1985
(08.11.1988)
Bank of Finland Research Discussion Papers 25/1988
Bank of Finland Research Discussion Papers 25/1988
Tutkimuksessa tarkastellaan suomalaisten yritysten likvidien varojen eli rahoitus- ja vaihto-omaisuuden sekä velkojen kehitystä 60-luvun alusta vuoteen 1985. Teollisuudesta kartoitetaan eräitä aiempia tutkimuksia sekä ...