Bank of Finland Research Discussion Papers

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9/2019: Can large trade shocks cause crises? The case of the Finnish-Soviet trade collapse

Adam Gulan, Markus Haavio and Juha Kilponen

8/2019: Stagnant wages, sectoral misallocation and slowing productivity growth

Michaela Schmöller

7/2019: The effect of TLTRO-II on bank lending

Olli-Matti Laine

6/2019: On the long-run calibration of the credit-to-GDP gap as a banking crisis predictor

Karlo Kauko and Eero Tölö

5/2019: Assessing U.S. aggregate fluctuations across time and frequencies

Thomas A. Lubik, Christian Matthes and Fabio Verona

4/2019: Model-based regulation and firms' access to finance

Saara Tuuli

3/2019: Domestic banks as lightning rods? Home bias and information during Eurozone crisis

Orkun Saka

2/2019: IQ, Expectations, and Choice

Francesco D'Acunto, Daniel Hoang, Maritta Paloviita and Michael Weber

1/2019: Money growth and inflation: International historical evidence on high inflation episodes for developed countries

Marco Gallegati, Federico Giri and Michele Fratianni

26/2018: Securitization and crash risk: Evidence from large European banks

Francesca Battaglia, Bonnie G. Buchanan, Franco Fiordelisi and Ornella Ricci

25/2018: How do shocks to bank capital affect lending and growth?

Eero Tölö and Paavo Miettinen

24/2018: Effects of monetary policy decisions on professional forecasters' expectations and expectations uncertainty

Sami Oinonen, Maritta Paloviita and Matti Viren

23/2018: Predicting relative forecasting performance: An empirical investigation

Eleonora Granziera and Tatevik Sekhposyan

22/2018: Paradise lost? A brief history of DSGE macroeconomics

Adam Gulan

21/2018: The power of forward guidance and the fiscal theory of the price level

Nigel McClung

20/2018: Intermediation in a directed search model

Klaus Kultti, Tuomas Takalo and Oskari Vähämaa

19/2018: Enforcement of banking regulation and the cost of borrowing

Yota Deli, Manthos D. Delis, Iftekhar Hasan and Liuling Liu

18/2018: Democratic development and credit: "Democracy doesn't come cheap" But at least credit to its corporations will be

Manthos D. Delis, Iftekhar Hasan and Steven Ongena

17/2018: Private information and lender discretion across time and institutions

Gene Ambrocio and Iftekhar Hasan

16/2018: Did the Basel process of capital regulation enhance the resiliency of European Banks?

Thomas Gehrig and Maria Chiara Iannino

15/2018: Relative age effects in political selection

Janne Tukiainen, Tuomas Takalo and Topi Hulkkonen

14/2018: Inference in structural vector auto regressions when the identifying assumptions are not fully believed: Re-evaluating the role of monetary policy in economic fluctuations

Christiane Baumeister and James Hamilton

13/2018: Testing the systemic risk differences in banks

Esa Jokivuolle, Radu Tunaru and Davide Vioto

12/2018: Measuring the effects of conventional and unconventional monetary policy in the euro area

Juho Anttila

11/2018: Getting better? The effect of the single supervisory mechanism on banks' loan loss reporting and loan loss reserves

Kim Ristolainen

10/2018: Going with the flows: New borrowing, debt service and the transmission of credit booms

Mathias Drehmann, John Juselius and Anton Korinek

9/2018: Optimal monetary policy under bounded rationality

Jonathan Benchimol and Lahcen Bounader

8/2018: The enduring link between demography and inflation

John Juselius and Elod Takats

7/2018: The equity risk premium and the low frequency of the term spread

Gonçalo Faria and Fabio Verona

6/2018: High trend inflation and passive monetary detours

Guido Ascari, Anna Florio and Alessandro Gobbi

5/2018: Price level targeting with evolving credibility

Seppo Honkapohja and Kaushik Mitra

4/2018: Extreme events and optimal monetary policy

Jinill Kim and Francisco Ruge-Murcia

3/2018: Price rigidities and the granular origins of aggregate fluctuations

Ernosto Pasten, Raphael Schoenle and Michael Weber

2/2018: Systematic risk, bank moral hazard, and bailouts

Marcella Lucchetta, Michele Moretto and Bruno M. Parigi

1/2018: Asymmetric information and the distribution of trading volume

Matthijs Lof and Jos van Bommel

1/2018: Asymmetric information and the distribution of trading volume

Matthijs Lof and Jos van Bommel

37/2017: The real effects of overconfidence and fundamental uncertainty shocks

Gene Ambrocio

37/2017: The real effects of overconfidence and fundamental uncertainty shocks

Gene Ambrocio

36/2017: Why so low for so long? A long-term view of real interest rates

Claudio Borio, Piti Disyatat, Mikael Juselius and Phurichai Rungcharoenkitkul

35/2017: Uncertainty across volatility regimes

Giovanni Angelini, Emanuele Bacchiocchi, Giovanni Caggiano and Luca Fanelli

34/2017: Uncertainty shocks and firm dynamics: Search and monitoring in the credit market

Thomas Brand, Marlène Isoré and Fabien Tripier

33/2017: Worker separation under performance pay: Empirical evidence from Finland

Derek Jones, Panu Kalmi, Takao Kato and Mikko Mäkinen

32/2017: Modelling a small open economy using a wavelet-based control model

David Hudgins and Patrick Crowley

31/2017: On corporate borrowing, credit spreads and economic activity in emerging economies: An empirical investigation

Julián Caballero and Andrés Fernández

30/2017: Welfare effects of R&D support policies

Tuomas Takalo, Tanja Tanayama and Otto Toivanen

29/2017: What does "below, but close to, two percent" mean? Assessing the ECB's reaction function with real time data

Maritta Paloviita, Markus Haavio, Pirkka Jalasjoki and Juha Kilponen

28/2017: Business cycle synchronisation in a currency union: Taking stock of the evidence

Nauro Campos, Jarko Fidrmuc and Iikka Korhonen

27/2017: Monopoly without a monopolist: An economic analysis of the bitcoin payment system

Gur Huberman, Jacob D. Leshno and Ciamac Moallemi

26/2017: Q, investment, and the financial cycle

Fabio Verona

25/2017: Why does portfolio choice correlate across generations?

Samuli Knüpfer, Elias Rantapuska and Matti Sarvimäki