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Stable price level and changing prices
Suvanto, Antti; Hukkinen, Juhana - Suomen Pankki - 2004
. This was a period of very low inflation. The rate of growth in the aggregate price level was occasionally very close to … inflation. The declining prices cannot, however, be explained by lack of demand or any generalized deflationary tendencies … develops a new method for looking at the composition of inflation and illustrating how relative price dynamics interact with …
Persistent link: https://www.econbiz.de/10005648879
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Kiss me deadly: From Finnish great depression to great recession
Gulan, Adam; Haavio, Markus; Kilponen, Juha - Suomen Pankki - 2014
We investigate the causes of the Finnish Great Depression, 1990-1993. We find that the collapse of the overheated financial and banking sectors starting in 1989 was the trigger of the economic crisis. Foreign shocks, which include the collapse of trade with USSR in 1991, can account for at most...
Persistent link: https://www.econbiz.de/10010945114
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Financial market volatility: informative in predicting recessions
Annaert, Jan; Ceuster, Marc J.K. De; Valckx, Nico - Suomen Pankki - 2001
It is commonly agreed that the term spread and stock returns are useful in predicting recessions. We extend these empirical findings by examining interest rate and stock market volatility as additional recession indicators. Both risk-return analysis and the theory of investment under uncertainty...
Persistent link: https://www.econbiz.de/10005648836