Haku
Viitteet 1-10 / 15
Monetary Policy and Stock Market Valuation
(01.03.2023)
International Journal of Central Banking 1 ; March 2023
International Journal of Central Banking 1 ; March 2023
This paper estimates the effect of monetary policy on the term structure of stock market risk premia. The implied stock market risk premia are obtained using analysts' dividend forecasts and dividend future prices. The ...
IQ, Expectations, and Choice
(15.10.2023)
Review of Economic Studies 5 ; October 2023
Review of Economic Studies 5 ; October 2023
We use administrative and survey-based micro data to study the relationship between cognitive abilities (IQ), the formation of inflation expectations, and the consumption plans of a representative male population. High-IQ ...
The Politics of Bank Failures in Russia
(19.05.2023)
Post-Soviet Affairs 6
Post-Soviet Affairs 6
Russia has witnessed a high number of bank failures over the last two decades. Using monthly data for 2002–2020, spanning four election cycles (2004, 2008, 2012, 2018), we test the hypothesis that bank failures are less ...
Does Bank Efficiency Affect the Bank Lending Channel in China?
(19.09.2022)
Emerging Markets Review June : 2023
Emerging Markets Review June : 2023
This work examines the impact of bank efficiency on the bank lending channel in China. Using a sample of 148 Chinese banks over the period 2006–2017, we investigate how the reaction of the loan supply to monetary policy ...
Monetary policy transmission to firms’ investments — It may depend on the tool
(15.06.2023)
Economics Letters August 2023
Economics Letters August 2023
This letter studies monetary policy transmission to public companies’ investments in the euro area using firm-level data. Rate hikes are estimated to decrease investments. When it comes to unconventional monetary policy ...
Negative Economic Sentiment Index Based on Finnish News Titles
(06.10.2023)
Journal of the Finnish Economic Association 1
Journal of the Finnish Economic Association 1
We construct an index for measuring negative economic sentiment in Finland by using news titles collected from the Finnish broadcasting company Yle's archive. Our approach uses supervised machine learning text classification ...
Suomalaisten talousosaaminen tarkastelussa
(08.10.2023)
Kansantaloudellinen aikakauskirja 3/2023
Kansantaloudellinen aikakauskirja 3/2023
Tässä artikkelissa tarkastellaan suomalaisten talousosaamista hyödyntäen Taloudellisen yhteistyön ja kehityksen järjestön OECD:n piirissä olevan kansainvälisen talousopetusverkoston (International Network on Financial ...
Consumption-led expansions lead to lower future output growth
(28.02.2023)
Przeglad Statystyczny. Statistical Review 3 ; 2022
Przeglad Statystyczny. Statistical Review 3 ; 2022
When assessing future growth prospects, does the current structure of demand matter, i.e. does it affect the future growth? This question is analysed in our paper using global and EU panel data. The result is quite striking: ...
Inflation dynamics in the frequency domain
(10.08.2023)
Economics Letters October 2023
Economics Letters October 2023
We use a New Keynesian Phillips Curve to study the dynamics of inflation in the frequency domain. Inflation expectations dominate medium-to-long-run cycles, energy inflation dominate short cycles and also longer cycles ...
Coherence without rationality at the zero lower bound
(31.10.2023)
Journal of Economic Theory December 2023
Journal of Economic Theory December 2023
Standard rational expectations models with an occasionally binding zero lower bound constraint either admit no solutions (incoherence) or multiple solutions (incompleteness). This paper shows that deviations from ...