Bank of Finland
Bank of Finland paper attempts to isolate European fiscal multipliers
Research seeks to account for effects of policy co-ordination and business cycles to produce more accurate estimates of European fiscal multipliers
Bank of Finland expects continuing recession in 2013
Central bank lowers its growth forecasts for next three years, saying GDP will contract by 0.8% in 2013 while unemployment will rise to 8.6% the following year
Price stability ‘pivotal’ in shaping exchange rate pressures
Bank of Finland discussion paper analyses pressure on exchange rates during financial crisis; says countries that experienced high inflation beforehand were hardest hit
Paper examines roster of RMB bilateral swap partners
BOFIT researchers find the list of countries signing a swap agreement with China is determined by a range of factors - and suggest the agreements are not used as a ‘soft power' political tool
Fin paper says hybrid monetary policy regimes are unsustainable
Bank of Finland working paper finds most former Soviet Republics operate without a free-floating exchange rate or hard peg; says hybrid policies are unsustainable
Liikanen adds voice to defenders of central bank independence
Bank of Finland governor calls value of central bank independence a ‘lasting lesson’ of recent decades; cautions that both fiscal and financial dominance represent threats
BOFIT paper finds Turkish depositors prefer banks with political connections
Study analysing Turkish banks finds those with former members of parliament among their top executives are subject to 'less discipline' from depositors
New DSGE model finds anticipated 'low for long' policy can cause a boom
Finnish paper, inspired by US policy of the early 2000s, finds combination of too-low-for-too-long interest rate policy and optimism leads to an increase in overall leverage
Accumulating reserves to guard against inflation is 'misplaced'
Researchers at Bofit institute find that using reserves as a ‘bulwark against goods price inflation' is a mistake; say best protection against costly reserves accumulation is flexible exchange rate
Bank of Finland paper urges QE use outside crises
Analysis based on DSGE model finds asset purchases are a useful monetary policy tool in all states of the economy, but should be co-ordinated with conventional interest rate policy
Finnish deputy stresses support for SSM within ECB
Pentti Hakkarainen says lack of co-ordination between central banks and supervisors is the biggest lesson of the financial crisis
Bank of Finland researchers examine role of liquidity creation in bank failures
Experience of Russia from 2000–07 suggests early identification of excessive liquidity creators can 'mitigate systemic distress'
Finnish paper finds sterilisation bonds can benefit Asia
Bank of Finland discussion paper examines rising use of sterilisation bonds by six central banks in Asia and finds ‘encouraging’ evidence of their effectiveness
People: Dijsselbloem bids for Eurogroup chair; Sanusi takes reins at WAMZ
Eurozone finance ministers to elect new chair on Monday; West African Monetary Zone chair passes to Nigeria governor; Finland picks audit head
Liikanen urges government to strengthen public finances
Bank of Finland governor says public debt reduction is threatened by lower-than-expected economic growth
Bank of Finland's Erkki Liikanen on bank separation in Europe
Bank of Finland governor, Erkki Liikanen, tells Christopher Jeffery why he believes the separation of ‘risky’ activities at banks represents the third leg to ensure financial stability in Europe
Finland paper sizes up Chinese reforms
Research published by the Bank of Finland examines financial liberalisation in China and what it means for the country’s monetary policy framework
Arab Spring countries boast higher credit limits, says Finnish paper
Bank of Finland research shows Middle Eastern and North African countries that experienced uprisings lend more to small businesses
Fin paper assesses eurozone’s fiscal planning
Research finds countries on the periphery had adjusted their budgets before the euro crisis event; others were more reactive and may have suffered as a result
National Bank of Denmark rejects Liikanen report
Danish central bank governor says nations should be able to opt out of proposed Liikanen banking rules; favours bail-inable debt
Finnish paper proposes further ATM regulation
Largest ATM provider in Finland has foreign fee it can charge capped; socially optimal level only reached with regulated interchange fee
International reserves provided shelter from crisis, says Finland paper
Bank of Finland study says the accumulation of international reserves provided some countries with a buffer against the crisis; not such a clear-cut relationship with economic growth
Finland paper advocates partial commitment to inflation targeting
Bank of Finland study warns of dangers involved in ‘over-committing’ to interest rate adjustments in reaction to price changes; suggests short-term reactions may be appropriate
Bank of Finland’s Honkapohja gets second five-year term
Seppo Honkapohja reappointed for a second five-year term on the board of the Bank of Finland; only three board members of a possible six currently in office