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Assessing targeted longer-term refinancing operations : identification through search intensity
(21.09.2023)
Bank of Finland Research Discussion Papers 13/2023
Bank of Finland Research Discussion Papers 13/2023
We evaluate the effects of targeted credit injections of the central bank in the euro area. The aggregate policy impacts of credit easing on financial markets, bank lending and key macroeconomic variables are measured with ...
Public funding of banks and firms in a time of crisis
(27.06.2022)
Bank of Finland Research Discussion Papers 8/2022
Bank of Finland Research Discussion Papers 8/2022
We study public funding of banks and non-financial firms in a time of crisis. We find that bank capitalization is more effective in stabilizing the economy than direct funding to firms, but it also creates larger distortions. ...
Stress test precision and bank competition
(02.02.2024)
Bank of Finland Research Discussion Papers 3/2024
Bank of Finland Research Discussion Papers 3/2024
We study a competitive banking sector in which banks choose the level of risk of their asset portfolios and, upon the public disclosure of stress test results, raise funding by promising investors a repayment. We show that ...