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Asset price shocks and inflation in the Finnish economy

Koivisto, Tero - 2024

restrictions to label the asset price shock and leverage the property of the Bayesian approach to compute the posterior probability … of each shock satisfying these proposed restrictions. The structural shock associated with wealth has a positive impact … on private consumption and GDP. The asset price shock is also positively related on consumer prices. Therefore …

Persistent link: https://www.econbiz.de/10014573996

Drivers of post-pandemic price dynamics and labour market tightness in the euro area

Juvonen, Petteri; Nelimarkka, Jaakko; Obstbaum, Meri; … - 2025

We study recent inflation and labour market dynamics in the euro area within a general equilibrium framework. Rapid inflation was mainly caused by demand and supply shocks, but labor market-specific shocks also contributed to the surge in inflation. Our results underscore the significance of...

Persistent link: https://www.econbiz.de/10015410150

Transmission of recent shocks in a labour-DSGE model with wage rigidity

Obstbaum, Meri; Oinonen, Sami; Pönkä, Harri; Vanhala, … - 2023

In this paper we analyze features of the recent business cycle with a New Keynesian small open economy DSGE model with labour market frictions and wage rigidity. The model complements the existing analytical tools of the Bank of Finland by enabling detailed analysis of labour markets in a DSGE...

Persistent link: https://www.econbiz.de/10014265623

The effects of the ECB's pandemic-related monetary policy measures

Nelimarkka, Jaakko; Laine, Olli-Matti - 2021

We assess the macroeconomic impact of pandemic-related monetary policy measures of the ECB. Conditioning on counterfactual interest rate paths that would have materialised in the absence of the policies, the macroeconomic effects are measured using structural vector autoregressions. In the...

Persistent link: https://www.econbiz.de/10012622376

How effective is the Taylor rule? : some insights from the time-frequency domain

Crowley, Patrick M.; Hudgins, David - 2020

When the central bank sets monetary policy according to a conventional or modified Taylor rule (which is known as the Taylor Principle), does this deliver the best outcome for the mac-roeconomy as a whole? This question is addressed by extending the wavelet-based control (WBC) model of Crowley...

Persistent link: https://www.econbiz.de/10012170972

Yield curve control

Kortelainen, Mika - 2020

friction to break Wallace's neutrality. We calibrate a bond supply shock that corresponds to the observed change in the time …

Persistent link: https://www.econbiz.de/10012221811

The impact of uncertainty shocks : continental Europe versus the Anglo-Saxon world

Wind, Joris de; Grabska, Katarzyna - 2016

Persistent link: https://www.econbiz.de/10011536189

De økte utgiftene for husholdningene i 2022 : hvem rammes mest?

Lian, Bård; Nygård, Odd Erik; Thoresen, Thor Olav; … - 2022

Persistent link: https://www.econbiz.de/10013433582

War in Ukraine : implications for the ECB : compilation of papers : study requested by the ECON committee

Europäisches Parlament / Policy Department for … - 2022

Persistent link: https://www.econbiz.de/10013410928

Economic effects of a debt-to-income constraint in Finland : evidence from Aino 3.0 model

Kärkkäinen, Samu; Nyholm, Juho - 2021

We analyze the economic effects of a debt-to-income constraint for the Finnish economy. Our benchmark is a DSGE model which is designed to capture the most prominent features of the Finnish economy and is calibrated using Finnish macroeconomic data. The baseline model incorporates a...

Persistent link: https://www.econbiz.de/10012506146