Haku
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Financial markets in the BOF4 model of the Finnish economy
(12.01.1990)
Bank of Finland Research Discussion Papers 1/1990
Bank of Finland Research Discussion Papers 1/1990
This paper describes the modelling of financial markets and the balance of payments in BOF4, a quarterly macroeconomic model developed by the Bank of Finland. The short-term interest rate is determined as a result of the ...
Usean faktorin korkorakennemallit ja immunisaatio
(14.01.1991)
Bank of Finland Research Discussion Papers 1/1991
Bank of Finland Research Discussion Papers 1/1991
Tutkimuksessa tarkastellaan, miten joukkovelkakirjoihin sijoitettaessa voidaan erityyppisten korkorakennemallien avulla saavuttaa immunisaatio. Lähtökohtana on sijoittaja, joka sijoittaa ainoastaan luottoriskittömiin ja ...
Macroeconomic foundations and simulation properties of the BOF4 quarterly model of the Finnish economy
(26.01.1990)
Bank of Finland Research Discussion Papers 2/1990
Bank of Finland Research Discussion Papers 2/1990
This paper describes the structure and simulation properties of the Bank of Finland's macroeconometric model BOF4. BOF4 is a quarterly, medium-sized macro model of the Finnish economy, consisting of about 70 behavioural ...
Wage setting, taxes and demand for labour : Multivariate analysis of the cointegration relations
(01.09.1992)
Bank of Finland Research Discussion Papers 22/1992
Bank of Finland Research Discussion Papers 22/1992
As an outcome of modelling wage setting and demand for labour in a bargaining framework, a lO-dimensional vector space is defined. This overparametrized system is reduced by means of conditioning. Structural restrictions ...
Tax incidence in union models
(02.09.1992)
Bank of Finland Research Discussion Papers 23/1992
Bank of Finland Research Discussion Papers 23/1992
This paper consideres three union inodels with alternative specifications of union preferences. We examine the effects of four tax parameters of interest on both wages and employment.
The main results are as follows. ...
Macroeconomic effects of European integration on the Finnish economy : A simulation study
(19.10.1989)
Bank of Finland Research Discussion Papers 37/1989
Bank of Finland Research Discussion Papers 37/1989
The aim of this study is to discuss and to quantify the macroeconomic effects of further European integration on the countries outside the European Community. We use Finnish economy as an example in our quantitative analysis. ...
Whether to join EMS or not : Signalling and the membership
(29.05.1990)
Bank of Finland Research Discussion Papers 9/1990
Bank of Finland Research Discussion Papers 9/1990
It is argued that if in a dynamic context a central bank wants to signal its commitment to non-inflationary policies an EMS membership makes its task easier by requiring less restrictive policies than if it stays outo ...
Production and employment in the BOF4 quarterly model of the Finnish economy
(14.07.1988)
Bank of Finland Research Discussion Papers 14/1988
Bank of Finland Research Discussion Papers 14/1988
This paper contains a description of the production and labour demand sections of the BOF4 model. CES value added production functions are developed and estimated for the five sectors of the economy. From these the marginal ...