The models and analysis behind the Bank of Finland's forecasts for the Finnish economy

Mikko Sariola and Hannu Viertola

No 3/2026, BoF Economics Review from Bank of Finland

Abstract: The Bank of Finland produces forecasts for the Finnish economy using advanced modelling tools. Central to this process is its Aino model, which is a dynamic stochastic general equilibrium (DSGE) model that integrates various aspects of the Finnish economy. The forecasts support policy decisions within the Eurosystem and are updated regularly. This paper describes the forecasting process, main features of the forecasting models used and their key role in economic analysis at the Bank of Finland.

Keywords: Aino model; forecast; Dynamic Stochastic General Equilibrium; DSGE; monetary policy; Finnish economy (search for similar items in EconPapers)
JEL-codes: E0 E3 E4 E5 (search for similar items in EconPapers)
Date: 2026
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:bofecr:341669

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