This paper deals with the issue of how the market structure in banking affects the choice of means of payment.In particular, the demand for cash is analysed from this point of view.The analysis is based on a simple spatial transactions model in which the banks' optimization problem is solved.The...

This study utilises payment system data to analyse market participants liquidity usage and to trace interest rates paid on overnight loans. Our aim is to examine how liquidity usage has changed during the years 2006 2/2011 and to combine this information with data on overnight lending rates...

This study discusses the effects of the Automated Teller Machine (ATM) network market structure on the availability of cash withdrawal ATM services and cash usage.The aim and novelty of the study is to construct the ATM equation.The study also contributes to the earlier discussion on the effects...

In this paper we examine how Finnish municipalities' expenditures depend on the share of citizens with foreign background out of the total population. Empirical analyses make use of Finnish panel data from 295 municipalities and 202 migrant nationalities for the period 1987- 2018. It turns out...

The failure to predict the surge in inflation in 2021 raises questions about whether we are better equipped to anticipate a future decline in inflation. What tools do we intend to use for predicting the trajectory of inflation? Are we still primarily relying on survey data regarding inflation...

When assessing future growth prospects, does it matter how the economy grows now? In other words, does the current structure of demand affect future growth? This question is analyzed in our paper by using global and EU panel data. The result is quite striking: consumption-led growth - either in...

This paper examines the reasons for the declining path of inflation since the 1970s. In particular, it focusses on the role of globalization - covering both changes in the global market structure and technical and structural developments in trade and production. In addition, the paper deals with...

This paper examines whether the determinants of household saving have changed over time and whether they are the same across countries. Using a cross-country data for 34 OECD countries for the 1970-2019, we find that traditional saving rate specifications still perform strik ingly well and can...

This paper tries to find an answer to the question of why has Finnish exports performed so poorly during the last two decades. It also tries to assess the related question of why is the level of openness of the Finnish economy much lower than in neighboring countries and countries with similar...

We analyze the demographics of zombie firms and durations of zombie spells as well as their determinants, including an application on public subsidies using firm level population panel data from Finland. Firm-level analysis of firm demographics reveals that zombie-firms, as commonly defined in...