Haku
Viitteet 1-10 / 27
Time-frequency forecast of the equity premium
(23.10.2020)
Quantitative Finance 12 ; 2021
Quantitative Finance 12 ; 2021
Any time series can be decomposed into cyclical components fluctuating at different frequencies. Accordingly, in this paper, we propose a method to forecast the equity premium which exploits the frequency relationship ...
Nowcasting Finnish GDP growth using financial variables : a MIDAS approach
(28.11.2021)
Journal of the Finnish Economic Association 1 ; 2021
Journal of the Finnish Economic Association 1 ; 2021
We analyse the performance of financial market variables in nowcasting Finnish quarterly GDP growth. In particular, we assess if prediction accuracy is affected by the sampling frequency of the financial variables. Therefore, ...
The Effect of Targeted Monetary Policy on Bank Lending
(18.06.2021)
Journal of Banking and Financial Economics 15
Journal of Banking and Financial Economics 15
This paper studies the effect of central banks’ targeted refinancing operations on bank lending. It utilizes data from the European Central Bank’s targeted longer-term refinancing operations (TLTROs) together with monthly ...
Have Too-Big-To-Fail Expectations Diminished? Evidence from the European Overnight Interbank Market
(15.08.2021)
Journal of Financial Services Research 1
Journal of Financial Services Research 1
Using the Eurosystem’s proprietary interbank loan data from June 2008–June 2020, we show that larger European banks have had a lower cost of overnight borrowing than smaller banks. The size premium remains significant after ...
Patenttien yksityinen arvo : kirjallisuuskatsaus ja uusia tuloksia Suomesta
(04.10.2021)
Kansantaloudellinen aikakauskirja 3
Kansantaloudellinen aikakauskirja 3
Tässä kirjoituksessa tehdään katsaus patenttien taloustieteellisiin arvottamismenetelmiin ja niistä johdettuihin arvioihin patenttien arvosta. Sen lisäksi raportoidaan uusia tuloksia suomalaisten yritysten (ja eräiden ...
Onko inflaatio rahataloudellinen vai fiskaalinen ilmiö?
(04.10.2021)
Kansantaloudellinen aikakauskirja 3
Kansantaloudellinen aikakauskirja 3
Rahapolitiikan ja finanssipolitiikan yhteinen mittava elvytys koronakriisin aikana on nostanut esiin huolen velkaantumisesta ja fiskaalisesta dominanssista. Nämä huolet liittyvät läheisesti talouden hintatason määräytymiseen ...
The Transmission of International Shocks to CIS Economies : A Global VAR Approach
(22.06.2021)
Economic Systems 2 ; June
Economic Systems 2 ; June
This paper employs a Global Vector Auto Regressive (GVAR) model to study the evolution of the response of the Commonwealth of Independent States (CIS) to foreign output and oil price shocks. During an observation period ...
High Liquidity Creation and Bank Failures
(10.09.2021)
Journal of Financial Stability December
Journal of Financial Stability December
We formulate the “High Liquidity Creation Hypothesis” (HLCH) that a proliferation in the core activity of bank liquidity creation increases failure probability. We test the HLCH in the context of Russian banking, where ...
Can large trade shocks cause crises? The case of the Finnish-Soviet trade collapse
(24.04.2021)
Journal of International Economics July
Journal of International Economics July
We study the macroeconomic consequences of a major trade disruption using the example of the Finnish–Soviet trade collapse in 1991. This is a rare case of a well–identified large trade shock in a developed economy. We find ...
Bond vs bank finance and the Great Recession
(15.03.2021)
Finance Research Letters March
Finance Research Letters March
The typical increase of the corporate bond-to-bank ratio during downturns is known to mitigate business cycle recessions. In the three longest and deepest post-war U.S. recessions this ratio didn't increase from their ...