Työssä tutkitaan pankkiluottojen hinnoittelun vuosina 1987-1992. Perusaineistona on asiakaskohtainen otosaineisto säästöpankkien asiakkaista. Tutkittavaan periodiin sisältyvät sekä voimakkaan luottoekspansion kausi että pankkikriisin alkuvuodet. Tulosten mukaan luoton sai halvalla...

The purpose of this paper is to put forward a valuation framework for interest rate sensitive claims. We concentrate on secured loans. The value of the secured loan depends upon the coupon rate, the maturity, the term structure of interest rates and the value of the collateral as well as the...

In this paper, I estimate nonlinear autoregressive models for Finnish short-term interest rates using daily data.The nonlinear models considered in the paper are the logistic (LSTAR) and exponential (ESTAR) autoregressive models.The estimated LSTAR model appears to capture some of the interest...

This paper studies the value of a bank under different banking policy regimes.As banks run into financial distress, authorities in different countries have used different approaches to deal with the crisis.The Nordic countries provide examples of different policy approaches.The results show that...