BOFIT Discussion Papers

ISSN 1456-4564 (print) // ISSN 1456-5889 (online)

A series devoted to academic studies by BOFIT economists and guest researchers. The focus is on works relevant for economic policy and economic developments in transition/ emerging economies by BOFIT economists and guest researchers .

BOFIT Discussion Papers are intended to disseminate research quickly in preliminary form to encourage discussion and suggestions for revision or improvement. They may have been presented at conferences or workshops already, but will not yet have been published in journals.

Please keep in mind that the papers are published in the name of the author(s). Their views do not necessarily reflect those of the Bank of Finland or BOFIT.

Anna Krupkina – Alexey Ponomarenko: BOFIT Discussion Paper 32/2015: Deposit dollarization in emerging markets: modelling the hysteresis effect
2015. 21 pages.
John P. Bonin – Dana Louie: BOFIT Discussion Paper 31/2015: Did foreign banks “cut and run” or stay committed to Emerging Europe during the crises?
2015. 29 pages.
Jyri Kinnunen – Minna Martikainen: BOFIT Discussion Paper 30/2015: Expected returns and idiosyncratic risk: Industry-level evidence from Russia
2015. 32 pages.
John Fernald – Eric Hsu – Mark M. Spiegel: BOFIT Discussion Paper 29/2015: Is China fudging its figures? Evidence from trading partner data
2015. 36 pages.
Mariarosaria Comunale: BOFIT Discussion Paper 28/2015: Current account and REER misalignments in Central Eastern EU countries: an update using the macroeconomic balance approach
2015. 42 pages.
Simo Leppänen – Laura Solanko – Riitta Kosonen : BOFIT Discussion Paper 27/2015: Could climate change affect government expenditures? Early evidence from the Russian regions
2015. 35 pages.
Published in: Online First in Environmental and Resource Economics (2015), pp 1-26 as The Impact of Climate Change on Regional Government Expenditures: Evidence from Russia
Zuzana Fungáčová – Riikka Nuutilainen – Laurent Weill : BOFIT Discussion Paper 26/2015: Reserve requirements and the bank lending channel in China
2015. 33 pages.
Christian Dreger – Jarko Fidrmuc – Konstantin Kholodilin – Dirk Ulbricht: BOFIT Discussion Paper 25/2015: The Ruble between the hammer and the anvil: Oil prices and economic sanctions
2015. 29 pages.
Elena Deryugina – Alexey Ponomarenko – Andrey Sinyakov – Constantine Sorokin: BOFIT Discussion Paper 24/2015: Evaluating underlying inflation measures for Russia
2015. 31 pages.
Rui Mao – Yang Yao: BOFIT Discussion Paper 23/2015: Fixed exchange rate regimes, real undervaluation and economic growth
2015. 39 pages.
Mikhail Mamonov – Andrei Vernikov: BOFIT Discussion Paper 22/2015: Bank ownership and cost efficiency in Russia, revisited
2015. 52 pages.
Haining Wang – Zhiming Cheng – Russell Smyth: BOFIT Discussion Paper 21/2015: Does consuming more make you happier? Evidence from Chinese panel data
2015. 30 pages.
Qing He – Iikka Korhonen – Junjie Guo – Fangge Liu: BOFIT Discussion Paper 20/2015: The geographic distribution of international currencies and RMB internationalization
2015. 33 pages.
Alexey Porshakov – Elena Deryugina – Alexey Ponomarenko – Andrey Sinyakov: BOFIT Discussion Paper 19/2015: Nowcasting and short-term forecasting of Russian GDP with a dynamic factor model
2015. 41 pages.
Christian Hattendorff: BOFIT Discussion Paper 18/2015: Economic concentration and finance: Evidence from Russian regions
2015. 23 pages.
José R. Sánchez-Fung: BOFIT Discussion Paper 17/2015: Estimating the impact of monetary policy on inequality in China
2015. 13 pages.
Kefei You: BOFIT Discussion Paper 16/2015: What drives China’s outward FDI? A regional analysis
2015. 40.
Mikhail Stolbov: BOFIT Discussion Paper 15/2015: Causality between credit depth and economic growth: Evidence from 24 OECD countries
2015. 38 pages.
Alexander Libman – Björn Vollan: BOFIT Discussion Paper 14/2015: Anti-Western conspiracy thinking and expectations of collusion: Evidence from Russia and China
2015. 51 pages.
Heiner Mikosch – Stefan Neuwirth: BOFIT Discussion Paper 13/2015: Real-time forecasting with a MIDAS VAR
2015. 34 pages.
Linlin Niu – Xiu Xu – Ying Chen: BOFIT Discussion Paper 12/2015: An adaptive approach to forecasting three key macroeconomic variables for transitional China
2015. 47 pages.
Iftekhar Hasan – Nada Kobeissi – Haizhi Wang – Mingming Zhou : BOFIT Discussion Paper 11/2015: Banking structure, marketization and small business development: Regional evidence from China
2015. 35 pages.
Published in: Pacific Economic Review, Volume 20, Issue 3, pages 487–510, August 2015
Riikka Nuutilainen: BOFIT discussion paper 10/2015: Contemporary monetary policy in China: A move towards price-based policy?
2015. 33 pages.
Published in: Pacific Economic Review, Volume 20, Issue 3, pages 461–486, August 2015 as Contemporary Monetary Policy in China: An Empirical Assessment
Michael Funke – Petar Mihaylovski – Haibin Zhu: BOFIT Discussion Paper 9/2015: Monetary policy transmission in China: A DSGE model with parallel shadow banking and interest rate control
2015. 51 pages.
Elena Deryugina – Olga Kovalenko – Irina Pantina – Alexey Ponomarenko: BOFIT Discussion Paper 8/2015: Disentangling loan demand and supply shocks in Russia
2015. 33 pages.
Jarko Fidrmuc – Zuzana Fungácová – Laurent Weill: BOFIT Discussion Paper 7/2015: Does bank liquidity creation contribute to economic growth? Evidence from Russia
2015. 23 pages.
Published in: Open Economies Review, Volume 26, Issue 3, 2015, Pages 479-496
Jarko Fidrmuc – Iikka Korhonen: BOFIT Discussion Paper 6/2015: Meta-analysis of Chinese business cycle correlation
2015. 35 pages.
Yu-Fu Chen – Michael Funke – Kunyu Tao: BOFIT Discussion Paper 5/2015: Financial market reform – A new driver for China’s economic growth?
2015. 38 pages.
Joshua Aizenman: BOFIT Discussion Paper 4/2015: The internationalization of the RMB, capital market openness, and financial reforms in China
2015. 27 pages.
Published in: Pacific Economic Review, Volume 20, Issue 3, pages 444–460, August 2015
V.V. Mironov – A.V. Petronevich: BOFIT Discussion Paper 3/2015: Discovering the signs of Dutch disease in Russia
2015. 54 pages.
Ke Pang – Pierre L. Siklos: BOFIT Discussion Paper 2/2015: Macroeconomic consequences of the real-financial nexus: Imbalances and spillovers between China and the U.S.
2015. 33 pages.
Qing He – Liping Lu – Steven Ongena: BOFIT Discussion Paper 1/2015: Who gains from credit granted between firms? Evidence from inter-corporate loan announcements made in China
2015. 49 pages.

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