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Learning, inflation expectations and optimal monetary policy

Schaling, Eric - Suomen Pankki - 2003

In this paper we analyse disinflation policy in two environments. In the first, the central bank has perfect knowledge, in the sense that it understands and observes the process by which private sector inflation expectations are generated; in the second, the central bank has to learn the private...

Persistent link: https://www.econbiz.de/10005648895

The transparency of the banking industry and the efficiency of information-based bank runs

Chen, Yehning; Hasan, Iftekhar - Suomen Pankki - 2005

In this paper, we investigate the relationship between the transparency of banks and the fragility of the banking system. We show that information-based bank runs may be inefficient because the deposit con-tract designed to provide liquidity induces depositors to have excessive incentives to...

Persistent link: https://www.econbiz.de/10005648950

Contagion and interdependence: measuring CEE banking sector co-movements

Jokipii, Terhi; Lucey, Brian - Suomen Pankki - 2006

largest Central and Eastern European Countries (CEECs) can be attributed to contagion or to interdependence. Our tests based … on simple unadjusted correlation analysis uncover evidence of conta-gion between all pairs of countries. Adjusting for … market volatility during turmoil, however, produces dif-ferent results. We then find contagion from the Czech Republic to …

Persistent link: https://www.econbiz.de/10005648954

Financial interlinkages and risk of contagion in the Finnish interbank market

Toivanen, Mervi - Suomen Pankki - 2009

Using the maximum entropy method, this paper estimates the danger of contagion in the Finnish interbank market in 2005 …–2007 as well as the existence of contagion during a Finnish banking crisis. The contagion analysis of the early 1990s is able … that five of ten deposit banks are possible starting points for contagious effects. The magnitude of contagion is …

Persistent link: https://www.econbiz.de/10005648959

Essays on financial crises in emerging markets

Komulainen, Tuomas - Suomen Pankki - 2004

-fulfilling crises were possible. Essay 3 studies financial contagion and develops a model of the international financial system. It uses … contagion. Essay 4 analyses the causes of financial crises in 31 emerging market countries in 1980–2001. A probit model is …

Persistent link: https://www.econbiz.de/10008692076

Contagion in the interbank network: An epidemiological approach

Toivanen, Mervi - Suomen Pankki - 2013

method to model the spreading of the contagion in the interbank network by implementing an epidemiologic model. Actual data … on European banks is exploited with simulated scale-free networks. The average contagion affected 70% and 40% of European … of contagion. Bank clustering, large incoming interbank loans and bank reputation are more prominent explanatory …

Persistent link: https://www.econbiz.de/10010818996