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Monitoring and Market Power in Loan Markets
Hyytinen, Ari; Toivanen, Otto - Suomen Pankki - 2000
Whether or not banks are engaged in ex ante monitoring of customers may have important consequences for the whole economy. We approach this question via a model in which banks can invest in either information acquisition or market power (product differentiation). The two alternatives generate...
Persistent link: https://www.econbiz.de/10005190749
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Market power and merger simulation in retail banking
Molnár, József - Suomen Pankki - 2008
paper is among the first to apply this methodology on a detailed, bank-level dataset from the retail banking sector. It …
Persistent link: https://www.econbiz.de/10005648871
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The 1990’s financial crises in Nordic countries
Honkapohja, Seppo - Suomen Pankki - 2009
The current financial crisis, which has lasted almost one and a half years, is the 19th such crisis in the post-war period in advanced economies. Recent literature classifies the Nordic crises in Norway, Sweden and Finland in late 1980's and early 1990’s among the Big Five crises that have...
Persistent link: https://www.econbiz.de/10005207165
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The lending channel under optimal choice of monetary policy
Kilponen, Juha; Milne, Alistair - Suomen Pankki - 2007
Building on Cecchetti and Li (2005), we show that the bank lending channel affects monetary policy trade-offs only when … monetary policy model. In our calibrated model the resulting impact of the bank lending channel on output-inflation trade …-offs is quantitatively small and of ambiguous sign. When bank capital varies counter cyclically and bank loan rates have a …
Persistent link: https://www.econbiz.de/10005648972
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Economic evaluation of bank exit regimes in US, EU and Japanese financial centres
Granlund, Peik - Suomen Pankki - 2003
This paper evaluates bank exit regimes in selected financial centres using econometric methods. The focus is on bank … exit regimes applicable to commercial banks in New York, London, Frankfurt, Helsinki and Tokyo in 1998–2002. Bank exit … regimes are studied from the perspective of bank creditors and bank shareholders. In order to apply econometric methods, the …
Persistent link: https://www.econbiz.de/10005423720
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When do R&D subsidies boost innovation? Revisiting the inverted U-shape
Kilponen, Juha; Santavirta, Torsten - Suomen Pankki - 2007
We show theoretically that a proportional R&D subsidy accelerates innovation activity at all degrees of competition in the modern Schumpeterian growth model, but less so at high degrees of competition. We then use company-level data on patenting activity, product market competition and R&D...
Persistent link: https://www.econbiz.de/10005648847
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Economies of scale and technological development in securities depository and settlement systems
Schmiedel, Heiko; Malkamäki, Markku; Tarkka, Juha - Suomen Pankki - 2002
The paper investigates the existence and extent of economies of scale in depository and settlement systems. Evidence from 16 settlement institutions across different regions for the years 1993–2000 indicates the existence of significant economies of scale. The degree of such economies,...
Persistent link: https://www.econbiz.de/10005771143
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Finnish consumers' expectations on developments and changes in payment habits. Survey in connection with the research project 'Finnish payment habits 2010'
Dahlberg, Tomi; Öörni, Anssi - Suomen Pankki - 2006
The Bank of Finland’s Finnish Payment Habits 2010 project predicts that Finnish payment habits will face substantial …
Persistent link: https://www.econbiz.de/10005190760
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Are there Economies of Scale in Stock Exchange Activities?
Malkamäki, Markku - Suomen Pankki - 1999
This is the first paper that examines economies of scale in stock exchanges. The data employed in the study include cost and output statistics for 37 stock exchanges in four continents around the world for the year 1997. I estimate two traditional cost functions and find that ray (overall) scale...
Persistent link: https://www.econbiz.de/10005648842
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Are Expansions Cost Effective for Stock Exchanges? A Global Perspective
Hasan, Iftekhar; Malkamäki, Markku - Suomen Pankki - 2000
This paper investigates the existence and extent of economies of scale and scope among stock exchanges. Evidence from 38 exchanges in 32 countries and 4 continents around the world for the years 1989-1998 indicates the existence of significant economies of scale and scope. The degree of such...
Persistent link: https://www.econbiz.de/10005648960