Search Results - economics

Assessing cost competitiveness : the Bank of Finland approach

Eerola, Essi; Peltonen, Juho; Pönkä, Harri - 2026

This paper describes the framework used by the Bank of Finland to assess the cost competitiveness of the Finnish economy. We discuss the conceptual foundations, data choices, and methodological trade-offs involved in constructing commonly used indicators, with particular emphasis on...

Persistent link: https://econbiz.de/10015632897

How far are we from the single market in Europe? : an analysis of price level convergence

Hukkinen, Juhana; Virén, Matti E. E. - 2026

This paper examines price level differences and their evolvement over time across the European Union to find out how far we are from the Single Market that is cornerstone of European integration. The central question is how large these differences are and how they have evolved during the EMU...

Persistent link: https://econbiz.de/10015666634

The models and analysis behind the Bank of Finland's forecasts for the Finnish economy

Sariola, Mikko; Viertola, Hannu - 2026

The Bank of Finland produces forecasts for the Finnish economy using advanced modelling tools. Central to this process is its Aino model, which is a dynamic stochastic general equilibrium (DSGE) model that integrates various aspects of the Finnish economy. The forecasts support policy decisions...

Persistent link: https://econbiz.de/10015666638

Central bank independence under political pressure

Lehmus, Markku; Pitkäranta, Juho - 2026

Central bank independence has recently come under increasing political pressure. In this article, we examine measures of central bank independence to better understand how de jure independence is associated with the de facto independence of central banks. We then use the Lohmann (1992) framework...

Persistent link: https://econbiz.de/10015677258

Geopoliittisten shokkien välittyminen Suomen inflaatioon ja bruttokansantuotteeseen

Anttonen, Jetro; Lehmus, Markku - 2025

Persistent link: https://econbiz.de/10015450436

Drivers of post-pandemic price dynamics and labour market tightness in the euro area

Juvonen, Petteri; Nelimarkka, Jaakko; Obstbaum, Meri; … - 2025

We study recent inflation and labour market dynamics in the euro area within a general equilibrium framework. Rapid inflation was mainly caused by demand and supply shocks, but labor market-specific shocks also contributed to the surge in inflation. Our results underscore the significance of...

Persistent link: https://econbiz.de/10015410150

Why should fiscal imbalances concern policymakers at independent inflation-targeting central banks?

McClung, Nigel - 2025

This note offers a brief snapshot of selected insights from the literature on monetary-fiscal interactions and their implications for inflation-targeting central banks in an era of high public debt. It highlights the fiscal foundations of price stability and potential coordination issues when...

Persistent link: https://econbiz.de/10015580490

Asset price shocks and inflation in the Finnish economy

Koivisto, Tero - 2024

This study aims to explore the extent to which changes in wealth contributes to inflation utilizing a highly flexible non-Gaussian SVAR framework which minimizes the risk of distributional misspecification. We employ narrative sign restrictions to label the asset price shock and leverage the...

Persistent link: https://econbiz.de/10014573996

Forecasting unemployment in Finland : a flow approach

Lindblad, Annika; Gäddnäs, Niklas - 2024

In this paper we evaluate whether the accuracy of Finnish unemployment rate forecasts can be improved by utilising the information in the flows into and out of unemployment. We compare and contrast different methodologies for constructing the flows. Our results indicate that Bayesian vector...

Persistent link: https://econbiz.de/10014574000

Forecasting inflation : a comparison of the ECB's short-term inflation projections and inflation-linked swaps

Anttonen, Jetro; Laine, Olli-Matti - 2024

According to the efficient-market hypothesis, forecasts derived from efficient market prices should be unbeatable. However, numerous institutions, including the European Central Bank, regularly publish forecasts for future inflation that deviate from market expectations. We investigate the...

Persistent link: https://econbiz.de/10015101910