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Shadow banking : financial intermediation beyond banks

Adrian, Tobias; Chrétien, Edouard; Chui, Michael; … - Shadow Banking: Financial Intermediation beyond Banks …; … - 2018

Persistent link: https://www.econbiz.de/10011790739

Sovereign risk, European crisis resolution policies and bond yields

Kilponen, Juha; Laakkonen, Helinä; Vilmunen, Jouko - Suomen Pankki - 2012

We study the effects of the ECB monetary policy and the European crisis resolution policies on the 10 year sovereign bond yields of seven European countries. We find that some of the decisions have had significant impact on sovereign bond yields and have succeeded in reducing stress in the...

Persistent link: https://www.econbiz.de/10011191539

Interest rates and business cycles in emerging economies: The role of financial frictions

Fernández, Andrés; Gulan, Adam - Suomen Pankki - 2012

Countercyclical country interest rates have been shown to be both a distinctive characteristic and an important driving force of business cycles in emerging market economies. In order to account for this, most business cycle models of emerging market economies have relied on ad hoc and exogenous...

Persistent link: https://www.econbiz.de/10010945109

Ending over-lending: Assessing systemic risk with debt to cash flow

Ramsay, Bruce A.; Sarlin, Peter - Suomen Pankki - 2014

linked to the vulnerability of a nation, and hence systemic risk, one less explored measure of leverage is the debt … historic Debt/CF trends, as well as apply the same procedure to individual economic sectors. This assessment of systemic risk …

Persistent link: https://www.econbiz.de/10010819000

The effects of ratings-contingent regulation on international bank lending behavior: Evidence from the Basel 2 accord

Hasan, Iftekhar; Kim, Suk-Joong; Wu, Eliza - Suomen Pankki - 2014

implementation of the Basel 2 risk-based capital regulatory rules. We study the quarterly bilateral flows from G-10 creditor banking …-ratings that lead to changes in risk-weights for capital adequacy requirements have become more significant since the … implementation of Basel 2 rules for assessing banks’ credit risk under the standardized approach. This evidence is consistent with …

Persistent link: https://www.econbiz.de/10010945108

Liquidity and market efficiency : alive and well?

Liikanen, Erkki; Jylhä, Petri; Pennacchi, George G.; … - Joint Conference with the Bank of Finland in Helsinki …; … - 2015

On 3 July 2015, SUERF organized its sixth joint conference with the Bank of Finland in Helsinki on the subject of liquidity and market efficiency. The one-day program consisted of an opening speech, six presentations, including three keynotes, and a lunchtime address. The present SUERF Study...

Persistent link: https://www.econbiz.de/10011414459

Robust monetary policy in the New-Keynesian framework

Leitemo, Kai; Söderström, Ulf - Suomen Pankki - 2004

We study the effects of model uncertainty in a simple New-Keynesian model using robust control techniques. Due to the simple model structure, we are able to find closed-form solutions for the robust control problem, analysing both instrument rules and targeting rules under different timing...

Persistent link: https://www.econbiz.de/10005419678

Essays on small open economy macroeconomics

Freystätter, Hanna - Suomen Pankki - 2012

This thesis consists of an introductory chapter and three essays, all of which aim to study the functioning of a small open economy. The thesis starts with an investigation of export and import price determination and moves to a small open economy DSGE model framework in order to study the role...

Persistent link: https://www.econbiz.de/10011019138

Financial market disturbances as sources of business cycle fluctuations in Finland

Freystätter, Hanna - Suomen Pankki - 2010

This paper studies financial market disturbances as sources of investment fluctuations in Finland during 1995–2008. We construct a DSGE model of the Finnish economy that incorporates two domestic financial market shocks and financial frictions in the form of a BGG financial accelerator. We...

Persistent link: https://www.econbiz.de/10008626083

Housing market and current account imbalances in the international economy

Punzi, Maria Teresa - Suomen Pankki - 2012

This paper presents a two-sector, two-country model showing that inflation in the housing market, a low personal savings rate, and a construction investment boom can contribute to a large current account deficit. In the model, demand by a group of households in the domestic country is...

Persistent link: https://www.econbiz.de/10009397038