The aim of this paper is to present functioning of financial markets in the Nordic countries. This paper explores financial markets of Denmark, Finland and Sweden during the global crisis and the 80s and 90s crises of the twentieth century. The article presents the results of researches for...

In this paper, we examine if and to what extent the Kaleckian theory of mark-up pricing can explain changes in functional income distribution in an environment of financialization. Following this approach, we expect financialization to influence the aggregate wage share through three channels:...

We study the effect of collateral eligibility of corporate loans on the pricing of these loans by banks in Finland. Speciftcally, we investigate whether loans that are pledgeable as collateral for central bank borrowing have lower liquidity premia and thus lower interest rates. For...