This paper studies the gain from using money as an indicator when monetary policy in made under data uncertainty. We use a forward and backward looking model, calibrated for the euro area. The policymaker cannot completely observe the state of the economy. Money reveals some of the private...

Tämä tutkimus käsittelee kiinteisiin valuuttakursseihin liittyviä spekulatiivisia hyökkäyksiä teoreettisesti ja empiirisesti. Aluksi esitellään spekulatiivisten hyökkäysten teorian nimellä kulkevaa keskustelua. Esittely on pyritty kirjoittamaan helppotajuiseksi. Seuraavaksi...

The purpose of this study was to examine whether evidence of the possible effects of firms' indebtedness on their investment decisions can be found in empirical aggregate investment equations. Three different types of equations for aggregate investment in Finland were estimated.The equations...

This paper studies the gain from using money as an indicator when monetary policy in made under data uncertainty.We use a forward and backward looking model, calibrated for the euro area.The policymaker cannot completely observe the state of the economy. Money reveals some of the private...

This study presents a framework for extracting long-run GDP growth and inflation expectations from financial market data on a real-time basis.The framework uses information from both stock and bond markets.It builds on a dividend discount model of stock valuation and on a linearized consumption...

This study presents a framework for extracting long-run GDP growth and inflation expectations from financial market data on a real-time basis. The framework uses information from both stock and bond markets. It builds on a dividend discount model of stock valuation and on a linearized...

This paper studies the gain from using money as an indicator when monetary policy is made under data uncertainty. We use a forward and backward looking model, calibrated for the euro area. The policymaker cannot completely observe the state of the economy. Money reveals some of the private...