Showing 1 - 10 of 64
We investigate the causes of the Finnish Great Depression, 1990-1993. We find that the collapse of the overheated financial and banking sectors starting in 1989 was the trigger of the economic crisis. Foreign shocks, which include the collapse of trade with USSR in 1991, can account for at most...
Persistent link: https://www.econbiz.de/10010945114
return stock market index for Finland in an approach similar to Mehra and Prescott (2003), we find the equity premium for … Finland to be 10.14 per cent from 1913 to 2009. …
Persistent link: https://www.econbiz.de/10009643485
The possible participation of Finland in the Stage III of the European Monetary Union would constitute a major change … cycles in Finland? This is the question the present paper seeks to analyze. <p> In the first part of this paper, we review …-correction system to quantify the extent to which monetary autonomy has served to stabilize the real economy in Finland. This model is …
Persistent link: https://www.econbiz.de/10005190737
This paper reviews the first thirty years of finance research and education in Finland, starting with publication of … Finland – among the first in the Nordic countries. This review shows how Finnish financial education and research developed …
Persistent link: https://www.econbiz.de/10005190756
Finland is quite small, it is still important that payment system risk control be further developed. The environment in which …
Persistent link: https://www.econbiz.de/10005190765
This report is the basic documentation of the present (fifth) version of the Bank of Finland macroeconomic model, BOF5 …
Persistent link: https://www.econbiz.de/10005648844
In this paper we analyse the empirical relevance of the mechanisms through which the Bank of Finland's actions are … is the impact of a change in the Bank of Finland's one month tender rate on interest rates of longer maturities and on …? To what extent can recent developments in Finnish interest rates be attributed to the Bank of Finland's policies? We find …
Persistent link: https://www.econbiz.de/10005648891
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 to predict the most troublesome and defaulting...
Persistent link: https://www.econbiz.de/10005648959
This paper is an overview of domestic payment and settlement systems in Finland. It contains an up-to-date description …
Persistent link: https://www.econbiz.de/10005649002
This paper continues the data collection procedure and analysis set forth in Nyberg and Vaihekoski (2009). A number of new time series that are commonly used in finance literature are collected, created, and analyzed for the first time. These series include, among others, monthly dividend yields...
Persistent link: https://www.econbiz.de/10010818973