Download or read book How are the Key Finnish Market Interest Rates Determined written by Christian C. Starck and published by . This book was released on 1988 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: Tiivistelmä.
Download or read book Determination of Interest Rates in Small Open Economies written by Matti Virén and published by . This book was released on 1988 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Overnight Market Interest Rates and Banks Demand for Reserves in Finland written by Markku Pulli and published by . This book was released on 1992 with total page 154 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Bank Interest Rates in a Small European Economy written by Karlo Kauko and published by . This book was released on 2018 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents econometric analyses on the determination of bank deposit and lending rates using longitudinal Finnish data. Interest rate pass-through is very strong, possibly complete, in the case of lending rates; in the case of deposit rates the pass-through is far from complete, even in the long term.The monetary union has benefited customers by decreasing the average rate on new loans.Credit and interest rate risk premiums are clearly observable in banks' lending rates.The impact of money market rates on loan stock rates seems to have been non-linear; no obvious explanation for this phenomenon has been found. Key words: banking, interest rates JEL classification numbers: G21, E43, E44.
Download or read book Finland s Exchange Rate Regime and European Integration written by Markku Kotilainen and published by . This book was released on 1988 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: Tiivistelmä.
Download or read book The Term Structure and Interest Rates in the Finnish Money Markets written by Risto Murto and published by . This book was released on 1990 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Testing an Augmented Fisher Hypothesis for Money Market Interest Rates in Finland written by Juha-Pekka Junttila and published by . This book was released on 1998 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper we augment the famous Fisher hypothesis by introducing foreign interest rate and exchange rate variables to a tradional Fisherian test equation for the Finnish money market interest rates. Theoretically this augmentation is based on the use of uncovered interest rate parity for nominal rates and certain assumptions concerning the formation of exchange rate expectations. The empirical data covers monthly observations from the beginning of 1987 until the time of Finnish ERM-connection in October 1996. For the purposes of this analysis we have previously generated a time series of adaptive inflation expectations in Finland utilising a univariate time series model and a special structural change procedure in Junttila (1997). The use of cointegration techniques enables to include this generated regressor to the estimation equation, because the possible error-in-variable problem connected to the use of generated regressor in the empirical analysis asymptotically vanishes when unit root methods are applied. In this work the primary method in the cointegration analysis is the Johansen procedure, which is based on maximum likelihood estimation. Furthermore, we also apply Kalman filtering to the recursive estimation of error-correction models for Finnish interest rates. The foreign interest rates and exchange rates are chosen in view of obtaining some empirical results to be used as a background for the vivid discussion in Finland at the moment concerning the possible joining to the European Monetary Union (EMU) at its first phase in 1999. The foreign interest rates corresponding to the analysed domestic money market rates are from Germany, the United Kingdom and Sweden. The effects of each of them were analysed separately in a context, where also the world, i.e. U.S. market effects were examined. The main empirical result from this study is that the decision to float the Finnish markka in September 1992 might have caused remarkable structural changes in the economic relationships. However, applying recursive estimation to error-correction models indicated that at least for the monetary variables analysed here the structural instabilities were more connected to the short-run dynamics than the long-run (stationary) economic relationships. We were able to identify the Fisherian one-to-one positive relationship between the domestic nominal interest rate and domestic inflation expectations in all the analysed settings involving different foreign variables, but at varying maturities in different settings. We also found that the Finnish money market is very much dependent on the development both in the German and Swedish markets, but also the role of British market would seem to be important, because at least both at shortest and longest maturities the Fisherian one-to-one long-run relationship between domestic interest rates and inflation expectations with corresponding expectation horizons was accepted when the effects of British and world markets were controlled for.
Download or read book Monetary Policy and Housing Prices written by Anne Kerttula and published by . This book was released on 1988 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Financial Markets in Finland written by and published by . This book was released on 1986 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Financial Reform in Finland written by International Monetary Fund and published by International Monetary Fund. This book was released on 1988-10-11 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the evolution of the Finnish financial system from a restrictive system based on credit limitations and rationing to an open system which relies on indirect, market-oriented policies. The main beneficiaries are found to be the banks and those that previously had restricted access to bank credit. Two major remaining problems are the anti-savings biases associated with the generous tax treatment of household interest payments and the cartel-like system used in providing tax-free deposits to households. The paper also challenges the argument that the reform caused a loss of monetary autonomy.
Download or read book Customs Unions and National Budgets written by Pertti Haaparanta and published by . This book was released on 1988 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: Tiivistelmä.
Download or read book The Great Financial Crisis in Finland and Sweden written by Lars Jonung and published by Edward Elgar Publishing. This book was released on 2009-01-01 with total page 351 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Nordic financial crisis had it all: a botched liberalization, a huge boom followed by an even bigger bust, massive taxpayer-financed bailouts and, finally, deep long-run gains. The first-class team of scholars mobilized in this book convincingly tell a story that should be carefully studied by economists, bankers and policymakers. After this book, no one should be able to say: If we only knew ! Charles Wyplosz, Graduate Institute of International Studies, Geneva, Switzerland The financial crisis in Scandinavia in the early 1990s was a forerunner of the later world-wide crisis in 2007/8. Although the initial causation was different, the impact on their banks, though more localised, was just as severe. So we can benefit, and already policymakers have done so, from learning the lessons in this book on how to restore shattered banking systems to health. For this we owe a debt of gratitude to the editors, who have put together a series of key papers that emerged from a much larger exercise on the crisis that was earlier reported in four volumes in Swedish and Finnish. Amongst the many studies on current and past financial crises, this is a classic must-read . Charles A.E. Goodhart, London School of Economics, UK The Nordic experience with financial crisis resolution could not be more timely. Everyone cites it as an example of how it should be done , but rarely does one find careful and detailed analysis. Now policymakers and others searching for guidance will know where to look. Barry Eichengreen, University of California, Berkeley, US Following World War II, Nordic countries were commonly regarded as successful and stable economies. This perception was, however, shattered in the early 1990s when Finland and Sweden encountered severe financial crises. Here, the authors explore the symptoms of financial crisis decreasing real income, soaring unemployment and exploding public deficits and their devastating effects. The book compares and contrasts the experiences of Finland and Sweden, then adopts an international perspective, encompassing the experiences of Asia, Latin America, Denmark and Norway. Lessons from the 1990s crisis are drawn, and possible solutions prescribed. The conclusion is that long-term effects of financial crises financial liberalization and integration are not as dramatic as the short-term effects, but may prove to be of greater importance over time. Only the future will show whether these long-term benefits will balance or even outweigh the enormous short-term costs of the crises. Highly relevant to the current international financial crisis currently afflicting the world economy, this timely book will prove invaluable to economists and other social scientists with a general interest in financial crises, and to those with a more specific interest in the evolution and models of Scandinavian economies.
Download or read book Monetary Union Among Member Countries of the Gulf Cooperation Council written by Mr.Ugo Fasano-Filho and published by International Monetary Fund. This book was released on 2003-08-29 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt: The six member countries of the Gulf Cooperation Council (GCC)--Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates--have made important progress toward economic and financial integration, with the aim of establishing an economic and monetary union. This paper provides a detailed analysis of the economic performance and policies of the GCC countries during 1990-2002. Drawing on the lessons from the experience of selected currency and monetary unions in Africa, Europe, and the Caribbean, it assesses the potential costs and benefits of a common currency for GCC countries and also reviews the options for implementing a monetary union among these countries.
Download or read book Public Private Partnerships written by Akintola Akintoye and published by Routledge. This book was released on 2015-09-16 with total page 453 pages. Available in PDF, EPUB and Kindle. Book excerpt: This timely new book provides an international perspective on Public Private Partnerships. Through 21 case studies, it investigates the existing and fast developing body of principles and practices from a wide range of countries and is the first book to bring together leading international academics and practitioners under a common framework that enables convenient cross-country comparisons. The authors focus on the impact of the financial crisis has had on how governments have reviewed and overhauled their PPP policies as they have examined or tested new ways of partnering more effectively, efficiently and sustainably with the private sector. Readers will be able to gauge the level of maturity of PPP development in the book’s case studies, understand similarities and differences in their practices, and gain useful insights into the regulatory framework and institutional infrastructure in place to support implementation of PPP. Finally, the book offers insights into the future challenges and opportunities that PPP offers stakeholders.
Download or read book Heinemann Economics for Edexcel written by Susan Grant and published by Heinemann. This book was released on 2003 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: This text offers clear examples, key ideas and activities to ensure full access to the economics specification. It also includes exam hints contributed by an examiner from the relevant board.
Download or read book International Capital Markets written by International Monetary Fund and published by International Monetary Fund. This book was released on 1999-09-24 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt: Following a review and assessment of recent developments in capital market and banking systems, this year's International Capital Markets report reviews and assesses recent developments in mature and emerging financial markets and continues the analysis of key issues affecting global financial markets. It examines the systemic implications of the continued rapid development of the global over-the-counter derivatives markets and the expansion of foreign-owned banks into emerging markets. The report also analyzes market participants' assessments of the proposals for private sector involvement in the prevention and resolution crises.
Download or read book National Treatment Study written by United States. Department of the Treasury and published by . This book was released on 1986 with total page 250 pages. Available in PDF, EPUB and Kindle. Book excerpt:
