Narrow search
Showing 1 - 10 of 82
Cover Image
An approach to bank insolvency in transition and emerging economies
Mayes, David G. - Suomen Pankki - 2004
banks that are in trouble through prompt corrective action and if necessary resolving them if their net worth falls to zero …
Persistent link: https://www.econbiz.de/10005190773
Cover Image
Further evidence on the link between finance and growth: An international analysis of community banking and economic performance
Berger, Allen N.; Hasan, Iftekhar; Klapper, Leora F. - Suomen Pankki - 2004
of the relative health of community banks on economic growth and investigating potential transmission mechanisms for … market shares and higher efficiency rankings for small, private, domestically owned banks are associated with better economic … performance, and that the marginal benefits of larger shares are greater when the banks are more efficient. Only mixed support is …
Persistent link: https://www.econbiz.de/10005649013
Cover Image
Investor protection and business creation
Hyytinen, Ari; Takalo, Tuomas - Suomen Pankki - 2003
We study the effects of investor protection on the availability of external finance, entrepreneurship, and creation of new firms in an equilibrium search model of private capital markets. In addition to search frictions, we examine contract frictions, specifically interim and ex post moral...
Persistent link: https://www.econbiz.de/10005207158
Cover Image
Quantity rationing of credit
Waters, George A. - Suomen Pankki - 2012
Quantity rationing of credit, when firms are denied loans, has greater potential to explain macroeconomic fluctuations than borrowing costs. This paper develops a DSGE model with both types of financial frictions. A deterioration in credit market confidence leads to a temporary change in the...
Persistent link: https://www.econbiz.de/10009416201
Cover Image
Limited asset market participation: does it really matter for monetary policy?
Ascari, Guido; Colciago, Andrea; Rossi, Lorenza - Suomen Pankki - 2011
We study the design of monetary policy in an economy characterized by staggered wage and price contracts together with limited asset market participation (LAMP). Contrary to previous results, we find that once nominal wage stickiness, an incontrovertible empirical fact, is considered: i) the...
Persistent link: https://www.econbiz.de/10009643486
Cover Image
Lender of last resort and the moral hazard problem
Niskanen, Mikko - Suomen Pankki - 2002
The paper considers a model in which limited liability causes an asset substitution problem for banks. The problem can … support depend on the bank’s risk profile can be effective in improving the bank’s incentives to make the desired risk choice …
Persistent link: https://www.econbiz.de/10005423682
Cover Image
Policy words and policy deeds: the ECB and the euro
Siklos, Pierre; Bohl, Martin - Suomen Pankki - 2006
This paper examines the role of the ECB communication activities on daily Eurodollar exchange rate and interest rates. We estimate the relationship between monetary policy and the exchange rate using a technique that explicitly recognises the joint determination of both the levels and...
Persistent link: https://www.econbiz.de/10005648902
Cover Image
Monetary policy, expected inflation and inflation risk premia
Ravenna, Federico; Seppälä, Juha - Suomen Pankki - 2007
Within a New Keynesian business cycle model, we study variables that are normally unobservable but are very important for the conduct of monetary policy, namely expected inflation and inflation risk premia. We solve the model using a third-order approximation that allows us to study time-varying...
Persistent link: https://www.econbiz.de/10005648925
Cover Image
Law of finance: Evidence from Finland
Hyytinen, Ari; Kuosa, Iikka; Takalo, Tuomas - Suomen Pankki - 2002
Although it is widely acknowledged that the benefits of corporate governance reform could be substantial, systematic evidence on such reforms is scant. We both document and evaluate a contemporary corporate governance reform by constructing 18 measures of shareholder and creditor protection for...
Persistent link: https://www.econbiz.de/10005648951
Cover Image
Incomplete Insurance Market and Its Policy Implications within European Monetary Union
Jääskelä, Jarkko - Suomen Pankki - 1997
The purpose of this discussion paper is to consider consumption insurance and its various channels at the level of the individual and at the level of the economy as a whole in the context of the European Monetary Union. First we introduce a theoretical framework to derive implications of...
Persistent link: https://www.econbiz.de/10005190754