Discussion Papers

Research reports that are completed at the Bank of Finland are published at first as discussion papers. The series distributes information on the key research areas and results that are topical from the viewpoint of the Bank's strategic aims. The aim of the series is also to inspire discussion among experts.

Discussion papers are published in English, and they include an abstract in Finnish. They are published online in PDF format. Discussion papers may also be subscribed to electronically, in which case the subscriber receives an alert via email immediately after a new discussion paper has been released online.

The series has been published since 1988. The discussion papers that have been published after 1996 are available on the Bank of Finland website, and previous publications will be added to this site in PDF format.

Previously published discussion papers may be obtained in PDF format by email from the Bank of Finland (research@bof.fi). Copies can also be borrowed from the Bank of Finland library.

 

2009

36/2009
Annalisa Castelli – Gerald P Dwyer – Iftekhar Hasan: Bank relationships and firms’ financial performance: the Italian experience
2009. 55 pages.

35/2009
Yuliya Demyanyk – Iftekhar Hasan: Financial crises and bank failures: a review of prediction methods
2009. 35 pages.

34/2009
Leonardo Becchetti – Andrea Carpentieri – Iftekhar Hasan: The determinants of option-adjusted delta credit spreads: a comparative analysis of the United States, the United Kingdom and the euro area
2009. 78 pages.

33/2009
Patrick M Crowley – Tony Schildt: An analysis of the embedded frequency content of macroeconomic indicators and their counterparts using the Hilbert-Huang transform
2009. 51 pages..

32/2009
Patrick M Crowley: How do you make a time series sing like a choir? Using the Hilbert-Huang transform to extract embedded frequencies from economic or financial time series
2009. 37 pages.

31/2009
Martin T Bohl – David G Mayes – Pierre L Siklos: The quality of monetary policy and inflation performance: globalization and its aftermath
2009. 51 pages.

30/2009
Efrem Castelnuovo – Paolo Surico: Monetary policy, inflation expectations and the price puzzle
2009. 35 pages.

29/2009
Jukka Vauhkonen: Bank safety under Basel II capital requirements
2009. 33 pages.

28/2009
Juha Tervala: Export pricing and the cross-country correlation of stock prices
2009. 31 pages.

27/2009
Laura Vajanne: Inferring market power from retail deposit interest rates in the euro area
2009. 31 pages.

26/2009
Esa Jokivuolle – Matti Viren – Oskari Vähämaa: Transmission of macro shocks to loan losses in a deep crisis: the case of Finland
2009. 31 pages.

25/2009
Alistair Milne – Mario Onorato: Risk-adjusted measures of value creation in financial institutions
2009. 37 pages.

24/2009
George W Evans – Seppo Honkapohja: Expectations, deflation traps and macroeconomic policy
2009. 35 pages.

23/2009
Esa Jokivuolle – Ilkka Kiema – Timo Vesala: Credit allocation, capital requirements and procyclicality
2009. 40 pages.

22/2009
Mari Komulainen – Tuomas Takalo: Does State Street lead to Europe? The case of financial exchange innovations
2009. 53 pages.

21/2009
Peter Nyberg – Mika Vaihekoski: A new value-weighted total return index for the Finnish stock market
2009. 61 pages.

20/2009
Efrem Castelnuovo: Testing the structural interpretation of the price puzzle with a cost channel model
2009. 34 pages.

19/2009
Juha-Pekka Niinimäki: Screening in the credit market when the collateral value is stochastic
2009. 29 pages.

18/2009
Markku Lanne – Pentti Saikkonen: Noncausal vector autoregression
2009. 63 pages.

17/2009
David G Mayes: Early intervention and prompt corrective action in Europe
2009. 41 pages.

16/2009
Juha-Pekka Niinimäki – Ville Mälkönen: Blanket guarantee and restructuring decisions for multinational banks in a bargaining model
2009. 37 pages.

15/2009
Juha Kilponen – Juuso Vanhala: Productivity and job flows: Heterogeneity of new hires and continuing jobs in the business cycle
2009. 48 pages.

14/2009
Markus Haavio – Heikki Kauppi: House price fluctuations and residential sorting
2009. 56 pages.

13/2009
Iftekhar Hasan – Michael Koetter – Michael Wedow: Regional growth and finance in Europe: Is there a quality effect of bank efficiency?
2009. 27 pages.

12/2009
Mikael Juselius – Moshe Kim – Staffan Ringbom: Do markup dynamics reflect fundamentals or changes in conduct?
2009. 45 pages.

11/2009
Jim Lee – Patrick M Crowley: Evaluating the stresses from ECB monetary policy in the euro area
2009. 35 pages.

10/2009
Risto Herrala: Credit crunch? An empirical test of cyclical credit policy
2009. 27 pages.

9/2009
Juha Kilponen: Euler consumption equation with non-separable preferences over consumption and leisure and collateral constraints
2009. 33 pages.

8/2009
Giovanni Ganelli – Juha Tervala: Public infrastructures, public consumption and welfare in a new open economy macro model
2009. 36 pages.

7/2009
Bill B Francis – Iftekhar Hasan – Xian Sun: Political connections and the process of going public: evidence from China
2009. 49 pages.

6/2009
Mervi Toivanen: Financial interlinkages and risk of contagion in the Finnish interbank market
2009. 33 pages.

5/2009
Seppo Honkapohja: The 1990’s financial crises in Nordic countries
2009. 29 pages.

4/2009
Sherrill Shaffer – Iftekhar Hasan – Mingming Zhou: New small firms and dimensions of economic performance
2009. 35 pages.

3/2009
Peter Palmroos: Effects of unobserved defaults on correlation between probability of default and loss given default on mortgage loans
2009. 28 pages.

2/2009
Alistair Milne – Geoffrey Wood: The bank lending channel reconsidered
2009. 59 pages.

1/2009
Leonardo Becchetti – Rocco Ciciretti – Iftekhar Hasan: Corporate social responsibility and shareholder's value: an empirical analysis
2009. 50 pages.