Finnish money markets have undergone profound changes in recent years. In particular, the transition to a more market oriented system has changed,the way domestic interest rates are formed. This paper presents and quantifies one way of describing the structure and main linkages of the current...

The aim of this note is to examine whether the empirically documented positive interest rate elasticity of aggregate consumption in Finland is an artefact due to the previously widespread credit rationing. The aim is carried out using a novel time valying parameter approach and data from the...

Finnish money markets have undergone profound changes in recent years. In particular, the transition to a more market oriented system has changed the way domestic interest rates are formed. This paper presents and quantifies one way of describing the structure and main linkages of the current...

Kotitalouksien säästämisaste on trendimäisesti alentunut Suomessa jo useamman vuoden ajan. Tämä näyttäisi muodostuvan ongelmalliseksi kasvavan vaihtotaseen alijäämän olosuhteissa. Säästämisasteen alenemiseen on useita syitä, joista yksi keskeisimmistä on kotitalouksien...