Refereed research

The aim of the Bank of Finland's research activities is to meet the academic quality criteria set for high level research.
Therefore, the Bank aims to have the results of these research projects published in internationally recognised journals,
in which quality is guaranteed by peer review.

Please see also BOFIT refereed research.
 

 

 
TAB WEBPART
 

 Forthcoming

 

Tuomas Takalo  Tanja Tanayama Otto Toivanen
Market failures and the additionality effects of public support to private R&D: Theory and empirical implications
International Journal of Industrial Organization
(BoF DP 2/2013)

Maritta Paloviita – Matti Viren
Inflation and output growth uncertainty in individual survey expectations
Empirica
(BoF DP 37/2012)
Fabio Verona   Maik Wolters
Sticky information models in Dynare
Computational Economics
 

Fabio Verona – Manuel M. F. Martins Inês Drumond
(Un)anticipated monetary policy in a DSGE model with a shadow banking system
International Journal of Central Banking
(BoF DP 4/2013)

Timo Korkeamaki –  Elina Rainio – Tuomas Takalo
Reforming Corporate Law in an Emerging Market: The Case of Finland in the 1970’s
Economics of Transition 
(BoF DP 1/2010)

Mikael Bask
Exchange Rate Volatility without the Contrivance of Fundamentals
Frontiers in Finance and Economics
(BoF DP 8/2006)

 

 2013

 

Tuomas Takalo – Tanja Tanayama – Otto Toivanen
Estimating the Benefits of Targeted R&D Subsidies
Review of Economics and Statistics, March 2013, Vol. 95, No. 1, Pages 255-272 
Doi (BoF DP 7/2008)

Helinä Laakkonen
Exchange Rate Volatility, Macroeconomic Announcements and the Choice of Intraday Periodicity Filtering Method
Quantitative Finance
Doi
 
Helinä Laakkonen – Markku Lanne
The Relevance of Accuracy for the Impact of Macroeconomic News on Exchange Rate Volatility
International Journal of Finance and Economics
Doi


Paavo Miettinen
Information acquisition during a Dutch auction
Journal of Economic Theory
Doi (BoF DP 8/2012 & 7/2010)

Domenico Curcio– Iftekhar Hasan
Earnings and capital management and signaling: the use of loan-loss provisions by European banks
European Journal of Finance
Doi
 

Dona Siregar Asokan Anandarajan Iftekhar Hasan
Commercial Banks and Value Relevance of Derivative Disclosures after SFAS 133: Evidence from the USA
Review of Pacific Basin Financial Markets and Policies, Volume 16, Issue 01, March 2013: 1-28
Doi 

    
 

 2012

 

Tuomas Takalo
Rationales and Instruments for Public Innovation Policies  
Journal of Reviews on Global Economics, 1,  157-167 (2012)

Tuomas Takalo – Otto Toivanen
Entrepreneurship, Financiership, and Selection
Scandinavian Journal of Economics, Vol 114 Issue 2, June 2012; 601-628
Doi (BoF DP 6/2003)

Juha Kilponen
Consumption, Leisure and Borrowing Constraints
B.E. Journal of Macroeconomics
Vol. 12 (2012), Issue 1 (Topics), Article 10
Doi

Karlo Kauko
Can credit risk be rated through-the-cycle?
Frontiers in Finance and Economics
Vol.9, No 1, April 2012;  1-32

Kauko Karlo
External deficits and non-performing loans in the recent financial crisis
Economics Letters, 115, 2 (2012) 196–199
Doi

George W. Evans  – Seppo Honkapohja – Kaushik Mitra

Does Ricardian Equivalence Hold When Expectations Are Not Rational?
Journal of Money, Credit and Banking  44. 7 (Oct 2012): 1259-1283
Doi (BoF DP 13/2010

Elisa Newby
The Suspension of the Gold Standard as Sustainable Monetary Policy 
Journal of Economic Dynamics and Control, Volume 36, Issue 10, October 2012;  1498–1519
Doi 

Jukka Vauhkonen
The impact of Pillar 3 disclosure requirements on bank safety
Journal of Financial Services Research
Volume 41, Numbers 1-2, 2012: 37-49
Doi (BoF DP 29/2009)

Matti Viren 
Is the Housing Allowance Shifted to Rental Prices?
Empirical Economics, Online
Doi (BoF DP 11/2011)

Kari Takala  –  Matti Viren
Why does a Large Shadow Economy not show up in Administrative Inspections?
Economic Analysis & Policy, 42 No 2, September 2012: 257-272

Matti Viren
Housing allowance: subsidy to landlords?  
Recent Contributions in Applied Economics, Kovacs, P. (ed.) University of Szeged Press, p. 957-972     

Bill B. Francis – Iftekhar Hasan – Michael Koetter – Qiang Wu
Corporate boards and bank loan contracting
Journal of Financial Research, Volume 35, Issue 4, December 2012: 521-552
Doi (BoF DP 14/2012)

Leonardo Becchetti – Rocco Ciciretti – Iftekhar Hasan – Nada Kobeissi
Corporate social responsibility and shareholder's value: an empirical analysis
Journal of Business Research, Volume 65, Issue 11, November 2012: 1628–1635
Doi (BoF DP 1/2009)

Bill B. Francis – Iftekhar Hasan – Qiang Wu
Do corporate boards matter during the current financial crisis?
Review of Financial Economics,  Volume 21, Issue 2, April 2012; 39–52
Doi (BoF DP 11/2012) 

Isabelle Distinguin Iftekhar Hasan Amine Tarazi
Predicting rating changes for banks: how accurate are accounting and stock market indicators?
Annals of Finance, Online 3 April 2012
Doi (BoF DP 15/2012)
 
Chung-Hua Shen – Yu-Li Huang – Iftekhar Hasan
Asymmetric benchmarking in bank credit rating
Journal of International Financial Markets, Institutions and Money, 22,1, February 2012: 171-193
Doi

Annalisa Castelli –  Gerald P Dwyer  – Iftekhar  Hasan
Bank relationships and firms' financial performance: the Italian experience
European Financial Management, Vol 18, issue 1, 28-67, January 2012 
Doi (BoF DP 36/2009)
 
Iftekhar Hasan Heiko Schmiedel Liang Song
Returns to Retail Banking and Payments
Journal of Financial Services Research, Volume 41, Number 3 (2012); 163-195
Doi (BoF DP 3/2010)
 

Alistair Milne – Mario Onorato
Risk-Adjusted Measures of Value Creation in Financial Institutions
European Financial Management, 18. 4 (Sep 2012): 578-601
Doi (BoF DP 25/2009

Juha-Pekka Niinimäki
Hidden loan losses, moral hazard and financial crises
Journal of Financial Stability, Volume 8, Issue 1, January 2012; 1-14
 
Ville Mälkönen – Juha-Pekka Niinimäki
Blanket guarantee, deposit insurance and restructuring decisions for multinational banks
Journal of Financial Stability, Volume 8, Issue 2, April 2012; 84–95 
Mikael Bask
A case for interest rate inertia in monetary policy
International Journal of Finance and Economics, Online 26 Nov 2012
Doi (BoF DP 25/2007)

Efrem Castelnuovo Luciano Greco Davide Raggi
Policy rules, regime switches, and trend inflation: an empirical investigation for the United States
Macroeconomic Dynamics, Online 20 November 2012
Doi
 

 2011

 

Mika Kortelainen – Maritta Paloviita – Matti Viren
Expectations and Inflation: Evidence from Euro Area, Japan and USA
International Economics, Vol 64, Issue 4 (2011), 465-487

Esa Jokivuolle – Matti Viren
Cyclical default and recovery in stress testing loan losses
Journal of Financial Stability, Online 19 October 2011
Doi 

M
ari Komulainen – Tuomas Takalo
Does State Street Lead to Europe? The Case of Financial Exchange Innovations
European Financial Management, Online 6 June 2011
Doi
(BoF DP 22/2009)

Marko Melolinna
What explains risk premia in crude oil futures?
OPEC Energy Review,35 (4) December 2011: 287-307
Doi

Harry Leinonen
Debit card interchange fees generally lead to cash-promoting cross-subsidisation
European Competition Journal, Vol. 7 No 3, December 2011: 527-557
Doi 

(BoF 3/2011)

Hanna Westman
The impact of management and board ownership on profitability in banks with different strategies
Journal of Banking & Finance, Volume 35, Issue 12, December 2011; 3300-3318  
Doi

(Bof DP 2/2011)

Jarmo Pesola
Joint effect of financial fragility and macroeconomic shocks on bank loan losses: Evidence from Europe
Journal of Banking & Finance, Volume 35, Issue 11, November 2011; 3134-3144  
Doi
(BoF DP 15/2007)

Mika Kortelainen – Maritta Paloviita – Matti Viren
Observed Inflation Forecasts and the New Keynesian Macro Model
Economics Letters, Volume 112, Issue 1, July 2011: 88–90
Doi

Markus Haavio – Kaisa Kotakorpi
The political economy of sin taxes
European Economic Review, Volume 55, Issue 4, May 2011; 575–594 
Doi

Juha Kilponen – Kai Leitemo
Transmission lags and optimal monetary policy
Journal of Economic Dynamics and Control, Volume 35, Issue 4, April 2011: 565–578
(BoF DP 8/2007)

Juha-Pekka Niinimäki
Nominal and true cost of loan collateral 
Journal of Banking and Finance, Vol. 35, Issue 10 (October 2011): 2782-2790
Doi 
(BoF DP 19/2010)

Timo Korkeamäki
Interest rate sensitivity of the European stock markets before and after the euro introduction
Journal of International Financial Markets, Institutions and Money, 21. 5 (Dec 2011): 811-831
Doi
 
Martin Ellison  _ Joseph Pearlman
Saddlepath learning
Journal of Economic Theory  Volume 146, Issue 4, July 2011: 1500-1519
Doi      

Martin Ellison – Giacomo Carboni
Inflation and output volatility under asymmetric incomplete information
Journal of Economic Dynamics and Control, 35. 1 (Jan 2011): 40–51.
Doi

Bill Francis – Iftekhar Hasan – Zenu Sharma
Leverage and growth: Effect of stock options
Journal of Economics and Business  63 (6) Nov-Dec 2011: 58-581
Doi
(BoF DP 19/2011)

Sungho Choi – Iftekhar Hasan
Bank Privatization and Convergence of Performance: International Evidence
Journal of Financial Research 34. 2 (Jul 2011): 387-410
Doi

Yi
wei Fang – Iftekhar Hasan – Katherin Marton 
Bank efficiency in transition economies: recent evidence from South-Eastern Europe
Economics of Transition, Vol 19 Issue 3, July 2011: 495–520
Doi
(BoF DP 5/2011) 

Rajeev Goel -  Iftekhar Hasan
Economy-wide corruption and bad loans in banking: international evidence
Applied Financial Economics  21, no. 7 (2011): 455-461
Doi    
 
Bill B. Francis 
 Iftekhar Hasan Kose John  Liang Song
Corporate Governance and Dividend Payout Policy: A Test Using Antitakeover Legislation
Financial Management Vol 40, Issue 1, 83–112, Spring 2011
Doi   

Iftekhar Hasan – Asokan Anandarajan – Bill Francis – Kose John
Value relevance of banks: global evidence
Review of Quantitative Finance and Accounting, 36, no. 1 (2011): 33–55
Doi

Guido Ascari – Efrem Castelnuovo – Lorenza Rossi
Calvo vs. Rotemberg in a trend inflation world: An empirical investigation
Journal of Economic Dynamics and Control Volume 35, Issue 11, November 2011; 1852-1867
Doi
 

 2010

 

David Mayes – Matti Viren
The impact of Asset Prices and their Information Value for Monetary Policy  
Ensayos sobre Politica Economica, VOL. 28, NÚM. 61; Ago 2010; 134-167

Juha Kilponen – Torsten Santavirta
New evidence on implicit contracts from linked employer-employee data
Scandinavian Journal of Economics, Special Issue 112, no. 4 (2010): 864–883 
(BoF DP 12/2010)

Kari Takala – Matti Viren
Is Cash Used only in the Shadow Economy?  
International Economic Journal 24:4, December 2010: 525–540
 
Juha-Pekka Niinimäki
Liquidity Creation without Bank Panics and Deposit Insurance
Journal of Institutional and Theoretical Economics, Vol. 166, No. 3, 521–547 

Efrem Castelnuovo – Salvatore Nisticò
Stock Market Conditions and Monetary Policy in a DSGE Model for the U.S.
Journal of Economic Dynamics and Control, Volume 34, Issue 9, September 2010: 1700–1731
(BoF DP 11/2010)

Harry Leinonen
Transparent price competition or two-sided subsidisation in card payments?
Is there a need for a more efficient business model for the card industry?
Payments Strategy & Systems, Vol 4 Number 2 , June 2010: 102–115

Timo Korkeamaki – Eva Liljeblom – Daniel Pasternacka
Tax reform and payout policy: Do shareholder clienteles or payout policy adjust?
Journal of Corporate Finance, Volume 16, Issue 4, September 2010: 572–587
Doi

Juha Kilponen – Matti Viren
Why do growth rates differ? Evidence from cross-country data on private sector production
Empirica, Volume 37, Number 3 / July, 2010: 311–328
(BoF DP 13/2008)

James Bullard – George W. Evans – Seppo Honkapohja
A Model of Near-Rational Exuberance
Macroeconomic Dynamics,  April 2010, 14, 2: 166–88 

Esa Jokivuolle – Samu Peura
Rating targeting and dynamic economic capital 
Journal of Risk,  Vol 12 No 4 2010
(BoF DP 27/2006) 
 
George W. Evans – Seppo Honkapohja –Noah Williams
Generalized stochastic gradient learning
International Economic Review,  Vol. 51, No. 1, February 2010: 237–262

Tuomas Takalo – Tanja Tanayama
Adverse Selection and Financing of Innovation: Is There a Need for R&D Subsidies
Journal of Technology Transfer,  Volume 35 Number 1 / February, 2010, 16–41
(BoF DP 19/2008)

Olli Castrén – Tuomas Takalo – Geoffrey Wood
Unemployment persistence and the sustainability of exchange rate pegs
Scottish Journal of Political Economy,  Vol. 57 No. 1, February 2010: 85–102
(BoF DP 22/2004)

Iftekhar Hasan – Leonardo Becchetti – Andrea Carpentieri
Option-Adjusted Delta Credit Spreads: a Cross-Country Analysis
European Financial Management, Online 2010
Doi
(BoF DP 34/2009)

Sungho Choi – Bill B Francis – Iftekhar Hasan
Cross-Border Bank M&As and Risk: Evidence from the Bond Market
Journal of Money, Credit and Banking, June 2010, v. 42, iss. 4: 615–45

Allen N. Berger – Iftekhar Hasan – Mingming Zhou
The effects of focus versus diversification on bank performance: Evidence from Chinese banks
Journal of Banking & Finance, Volume 34, Issue 7, July 2010: 1417–1435

Yuliya Demyanyka – Iftekhar Hasan
Financial crises and bank failures: A review of prediction methods
Omega, Volume 38, Issue 5, October 2010: 315–324
(Empirical Research in the EU Banking Sector and the Financial Crisis)
Abstract
(BoF DP 35/2009)

Bill B. Francis – Iftekhar Hasan – Kose John – Maya Waisman
The effect of state antitakeover laws on the firm's bondholders
Journal of Financial Economics,  Volume 96, Issue 1, April 2010: 127–154

Bill B Francis – Iftekhar Hasan – James R Lothian – Xian Sun
Signaling Hypothesis Revisited: Evidence from Foreign IPOs
Journal of Financial and Quantitative Analysis, 2010, 45:81–106
(BoF DP 10/2008)

Harry Leinonen
Fördelaktigare betalsystem genom transparent prissättning – Den nuvarande affärsmodellen leder till ineffektivitet
Ekonomiska Samfundets Tidskrift  63:1 (2010): 13–28

Paolo Zagaglia
The Sources of Volatility Transmission in the Euro Area Money Market: From Longer Maturities to the Overnight?
Applied Economics Letters, May-June 2010, v. 17, iss. 7–9, pp. 865–68

 

 2009

 
Bill Francis – Iftekhar Hasan – Dona Siregar
The Choice of IPO versus M&A: Evidence from Banking Industry
Applied Financial Economics, November-December 2009, v. 19, iss. 24: 1987–2007

Peik Granlund
Supervisory approaches and financial market development: Some correlation-based evidence
Journal of Banking Regulation 2009, 11, 6–30
Abstract
(BoF DP 1/2008)

Samu Kurri
Price changes in Finland. Some evidence from the micro CPI data
Finnish Economic Papers Volume 22 Number 2, Autumn 2009:  47–62

George W.Evans – Seppo Honkapohja – Kaushik Mitra
Anticipated fiscal policy and adaptive learning
Journal of Monetary Economics, Volume 56 Issue 7, October 2009, Pages 930–953

Maritta Paloviita – Matti Viren
The role of expectations in the inflation process in the euro area
The Role of Expectations in Modelling and Monetary Policy Making, Routledge International Studies in Money and Banking,  
Chapter 8, 07 December 2009
(BoF DP 6/2005)

Maritta Paloviita
Estimating open economy Phillips curves for the euro area with directly measured expectations
New Zealand Economic Papers, Volume 43, Issue 3, December 2009: 233–254
(BoF DP 16/2008)

Maritta Paloviita – Matti Viren
The Role of Inflation Expectations in the EMU
Applied Economics Letters, Volume 16, Issue 16, November 2009: 1671–1675
Abstract 
(BoF DP 6/2005)

Heli Snellman – Matti Viren
ATM Networks and Cash Usage
Applied Financial Economics, 19, No. 10 (2009): 841–851
Abstract
(BoF DP 21/2006)

Ari Hyytinen – Tuomas Takalo
Consumer Awareness and the Use of Payment Media: Evidence from Young Finnish Consumers
Review of Network Economics, Volume 8, Issue 2, 2009: 164–188
(BoF DP 2/2008)

Klaus Kultti – Antti Miettunen – Tuomas Takalo – Juha Virrankoski
Who Searches?
Japanese Economic Review Vol. 60, Issue 2, pp. 152–171, June 2009
Abstract

Bob Hunt – Tuomas Takalo – Samuli Simojoki
Intellectual Property Rights and Standard Setting in Financial Services: The Case of the Single Euro Payments Area
Financial Innovation in Retail and Corporate Banking (L. Anderloni, D.T. Llewellyn, and R. Schmidt, eds) 2009: 170-198

David Mayes – Matti Viren
Changes in behaviour under EMU
Economic Modelling v. 26, iss. 4, pp. 751–59

Klaus Kultti – Paavo Miettinen
Stability of Constitutions
Journal of Public Economic Theory December 2009, v. 11, iss. 6, pp. 891–96

Karlo Kauko
Mixed duopoly of payment systems
International Research Journal of Finance and Economics, Issue 24, February 2009: 153–166
(BoF DP 11/2005)

Karlo Kauko
Managers and efficiency in banking
Journal of Banking and Finance, Volume 33, Issue 3, March 2009: 546–556
(BoF DP 11/2007)

Matti Viren
Does the value-added tax shift to consumption prices?
AUCO Czech Economic Review, Volume 3, Number 2, 2009: 123–142

Mikael Bask – Jarko Fidrmuc
Fundamentals and Technical Trading: Behavior of Exchange Rates in the CEECs
Open Economies Review,  November 2009, v. 20, iss. 5, pp. 589-605
(BoF DP 10/2006)

Mikael Bask
Robust Taylor Rules under Heterogeneity in Currency Trade
International Economics and Economic Policy Volume 6, Number 3 / October, 2009: 283-313
(BoF DP 6/2007)

Bill Francis – Iftekhar Hasan – Haizhi Wang
Personal Bankruptcy Law and New Business Formation
Financial Review  November 2009, v. 44, iss. 4, pp. 647-63

Iftekhar Hasan – Michael Koetter – Michael Wedow
Regional growth and finance in Europe: Is there a quality effect of bank efficiency?
Journal of Banking & Finance, Volume 33, Issue 8, 2009: 1446–1453
(BoF DP 13/2009

Bill B. Francis – Iftekhar Hasan – Xian Sun
Political connections and the process of going public: Evidence from China
Journal of International Money and Finance, Volume 28, Issue 4, June 2009: 696–719
(BoF DP 7/2009

R. Ciciretti – I. Hasan – C. Zazzara
Do Internet Activities Add Value? Evidence from the Traditional Banks
Journal of Financial Services Research, Volume 35, Number 1, February 2009: 81–98

Allen N. Berger – Iftekhar Hasan – Mingming Zhou
Bank Ownership and Efficiency in China: What Will Happen in the World’s Largest Nation?
Journal of Banking & Finance, Volume 33, Issue 1, January 2009: 113–130
(BoF DP 16/2007)

Iftekhar Hasan – Paul Wachtel – Mingming Zhou
Institutional Development, Financial Deepening and Economic Growth: Evidence from China
Journal of Banking & Finance, Volume 33, Issue 1, January 2009: 157–170

Hilde C. Bjørnland – Kai Leitemo
Identifying the interdependence between U.S. Monetary policy and the stock market
Journal of Monetary Economics, Volume 56, Issue 2, March 2009: 275–282
(BoF DP 17/2005)

Mikael Bask
Announcement Effects on Exchange Rates
International Journal of Finance and Economics, Vol. 14, Iss. 1, January 2009: 64–84
(BoF DP 6/2006)

Mikael Bask
Instrument Rules in Monetary Policy under Heterogeneity in Currency Trade
Journal of Economics and Business, Vol. 61, Iss. 2, March–April 2009: 97–111
(BoF DP 22/2007)​
 

 2008

 
Patrick Crowley – Douglas Maraun – David Mayes
How fused is the euro area core? An evaluation of growth cycle co-movement and synchronization using wavelet analysis
Journal of Business Cycle Measurement and Analysis  No.:4, Volume:2008, Issue:1: 63–95
(BoF DP 18/2006)

Leonardo Becchetti – Iftekhar Hasan – Paul Wachtel
The Anticipated Effects of EU Enlargement: Exchange Rate Volatility, Institutions and Conditional Convergence
Transition Studies Review, 15, No. 3, 2008: 431–446


David  Mayes – Matti Viren
The Impact of Asset Prices and Their Information Value for Monetary Policy 
Journal of Economic Asymmetries, December 2008: 1–26

Paul Evans – Iftekhar Hasan – Ana Lozano-Vivas
Deregulation and Convergence of Banking: The EU Experience
Finnish Economic Papers, Vol. 21, No. 2, Autumn 2008: 104–117

George W. Evans – Eran Guse – Seppo Honkapohja
Liquidity traps, learning and stagnation
European Economic Review, Volume 52, Issue 8, November 2008: 1438–1463

B. Francis – I. Hasan – D. Hunter
Can hedging tell the full story? Reconciling differences in United States aggregate- and industry-level exchange rate risk premium
Journal of Financial Economics, Volume 90, Issue 2, November 2008: 169–196
(BoF DP 14/2008

Pierre Siklos – Martin Bohl
Policy Words and Policy Deeds: The ECB and the Euro
International Journal of Finance and Economics, Volume 13 Issue 3, 2008: 247–265
(BoF DP 2/2006, partly) 

Iftekhar Hasan – Haizhi Wang
The US Bankruptcy Law and Private Equity Financing: Empirical Evidence
Small Business Economics,  Vol. 31, No. 1, June 2008: 5–19

David Mayes – Peik Granlund
 
Polar Approaches to Regulating Cross-Border Banking: Nordic and Antipodean Routes to Financial Stability 
European Business Organization Law Review, Vol. 9, Issue 1, 2008: 63–95

Maritta Paloviita
Comparing alternative Phillips curve specifiacations: European results with survey-based expectations
Applied Economics, Volume 40, Issue 17, September 2008: 2259–2270
(BoF DP 22/2005)

David G. Mayes – María J. Nieto – Larry Wall
Multiple safety net regulators and agency problems in the EU: Is Prompt Corrective Action partly the solution?
Journal of Financial Stability, Volume 4, Issue 3, September 2008: 232–257
(BoF DP 7/2007)

Terhi Jokipii – Alistair Milne
Cyclical Behaviour of European Bank Capital Buffers
Journal of Banking and Finance, 30th Anniversary Issue, Volume 32, Issue 8, August 2008: 1440–1451
(BoF DP 17/2006)

Bill B Francis – Iftekhar Hasan – Xian Sun
Financial market integration and the value of global diversification:
evidence for US acquirers in cross-border mergers and acquisitions
Journal of Banking & Finance, Vol. 32, Issue 8, August 2008: 1522–1540
(BoF DP 24/2006)

Ari Hyytinen – Mika Pajarinen
Opacity of young businesses:Evidence from rating disagreements
Journal of Banking & Finance, Vol 32, Issue 7, July 2008: 1234–41

James Bullard – George W Evans – Seppo Honkapohja
Monetary Policy, Judgment, and Near-Rational Exuberance  
American Economic Review, Volume 98, No. 3, 2008: 1163–77   

József Molnár – Gábor Virág
Revenue Maximizing Auctions with Market Interaction and Signalling
Economics Letters, Volume 99, Issue 2, May 2008: 360–363

Ari Hyytinen  – Tuomas Takalo
Investor Protection and Business Creation
International Review Of Law And Economics, 28, 2008: 113–122
(BoF DP 17/2003)

Juha Kilponen  – Kai Leitemo 
Model Uncertainty and Delegation: A Case for Friedman's k-Percent Money Growth Rule?
Journal of Money, Credit and Banking, Volume 40, Issue 2–3, March/April 2008: 547–556
(BoF DP 4/2006)

Yehning Chen – Iftekhar Hasan
Why do bank runs look like panic? A new explanation
Journal of Money, Credit and Banking, Volume 40, Issue 2–3, March/April 2008: 535–546
(BoF DP 19/2006)

Ari Hyytinen  – Petri Rouvinen
The labour market consequences of self-employment spells: European evidence
Labour Economics, Volume 15, Issue 2, April 2008: 246–271

Klaus Kultti –Tuomas Takalo
Optimal Fragmentation of Intellectual Property Rights
International Journal of Industrial Organization, Volume 26, Issue 1, January 2008: 137–149

Mikael Bask
Adaptive Learning in an Expectational Difference Equation with Several Lags: Selecting among Learnable REE
European Financial Management, 14, No. 1, 2008: 99–117
(
BoF DP 7/2006)
 

 2007

 

Tuomas Takalo – Panu Poutvaara
Candidate Quality
International Tax and Public Finance, 14, 1, 2007: 7–27

Juha-Pekka Niinimäki – Tuomas Takalo
Benchmarking and Comparing Entrepreneurs with Incomplete Information
Finnish Economic Papers, Vol. 20, No. 2, 2007: 91–107
(BoF DP 1/2006)

Tuomas Takalo – Klaus Kultti – Juuso Toikka
Secrecy vs. Patenting
RAND Journal of Economics, Supplementary Appendix, Vol 38, No. 1, Spring 2007: 22–42

Timo Korkeamäki – Yrjö Koskinen – Tuomas Takalo
Phoenix Rising: Legal Reforms and Changes in Valuations in Finland during the Economic Crisis
Journal of Financial Stability, 3, 2007: 33–58
(BoF DP 1/2007)

Maritta Paloviita – David Mayes
Asymmetry and Inflation Dynamics in Different Specifications of the Phillips Curve for the Euro Area
Current Politics and Economics of Europe,  Volume 19, Issue 3/4, 2007

Martin Ellison – Lucio Sarno – Jouko Vilmunen 
Caution or Activism? Monetary Policy Strategies in an Open Economy 
Macroeconomic Dynamics,  Vol. 11, No. 4, September 2007: 519–41
(BoF DP 3/2004)

Karlo Kauko  
Interlinking Securities Settlements: a Strategic Commitment
Journal of Banking and Finance, Vol. 31, Issue 10, October 2007: 2962–2977
(BoF DP 26/2003)

Heidi Soininen
Finnish evidence of changes in labor market matching
Finnish Economic Papers, 20,1, 2007: 57–71

Reino Hjerppe – Pellervo Hämäläinen – Jaakko Kiander – Matti Viren
Do Government expenditures increase private sector productivity? Cross-country Evidence
International Journal of Social Economics, 34, 2007: 345–360

David Mayes – Matti Virén
The SGP and the ECB: an exercise in asymmetry
Journal of Financial Transformation, 19, 2007: 159–175

Klaus Kultti – Paavo Miettinen
Herding with Costly Observation
The B.E. Journal of Theoretical Economics,  Vol. 7, Iss. 1 (Topics), Article 28, 2007

Matti Viren
Inflation expectations and regime shifts
Principles of Modelling, Forecasting and Decision-making, Volume 1 (2007), number 4, 127 - 142
(BoF DP 25/2005)
 

Matti Virén
The Slowdown of Inflation Expectations in Europe: An Empirical Investigation
Current Politics and Economics of Europe, Volume 19, Issue 3/4, 2007

Kari Takala – Matti Viren 
Impact of ATMs on the Use of Cash
Communications & Strategies, 66:2, 2007: 47–59

Alistair Milne
Standards and Competition in Post-trade Securities Processing
Journal of Financial Transformation, No. 20, September 2007: 143–54
(BoF DP 23/2005)

Alistair Milne
Governance and Innovation in UK Retail Payments
Communications & Strategies, 66:2, 2007: 63–77

Alistair Milne
The industrial organization of post-trade clearing and settlement
Journal of Banking & Finance, Vol. 31, Issue 10, October 2007: 2945–2961

Martin Bohl – Pierre Siklos – Thomas Werner
Do central banks react to the stock market? The case of the Bundesbank
Journal of Banking & Finance, 31, 3, 2007: 719–733
(BoF DP 2/2006, partly) 

Kai Leitemo
The Optimal Perception of Inflation Persistence is Zero
Scandinavian Journal of Economics, 1, 2007: 107–113

Ari Hyytinen – Olli-Pekka Ruuskanen
Time use of the self-employed
Kyklos, Vol. 60, No. 1, 2007: 105–122

Ari Hyytinen – Mika Pajarinen
Is the cost of debt capital higher for younger firms?
Scottish Journal of Political Economy, Vol. 54, No. 1, 2007: 55–71

Mikael Bask
Chartism and Exchange Rate Volatility
International Journal of Finance and Economics, 12, 3, 2007: 301–316 
 
Natasha Burns – Bill B. Francis – Iftekhar Hasan
Cross-listing and legal bonding: Evidence from mergers and acquisitions
Journal of Banking & Finance,  Volume 31, Issue 4 , April 2007: 1003–1031

Aaron Mehrotra 
Exchange and interest rate channels during a deflationary era—Evidence from Japan, Hong Kong and China
Journal of Comparative Economics, 35, 2007: 188–210
 
Terhi Jokipii – Brian Lucey
Contagion and Interdependence: Measuring CEE Banking Sector Co-Movements
Economic Systems, 31, 1, 2007: 71–96
(BoF DP 15/2006)

Patrick Crowley
A guide to wavelet for economists
Journal of Economic Surveys, 21, 2, 2007: 207–267
(BoF DP 1/2005)

Timo Vesala 
Switching costs and relationship profits in bank lending
Journal of Banking and Finance, 31, 2, 2007: 477–493
(BoF DP 3/2005)

Mikael Bask – Tung Liu – Anna Widerberg
The Stability of Electricity Prices: Estimation and Inference of the Lyapunov Exponents
Physica A, 376, 2007: 565–572
(BoF DP 9/2006)
 

 2006

 
Iftekhar Hasan – Cristiano Zazzara 
Pricing Risky Bank Loans in the New Basel 2 Environment
Journal of Banking Regulation, 7, 243-267 (11 September 2006
(BoF DP 3/2006)

David Mayes 
Financial stability in a world of cross-border banking: Nordic and Antipodean solutions to the problem of responsibility without power
Journal of Banking Regulation, 8, 2006: 20–39

David Mayes – Matti Virén
The Relation between Inflation and Regional Unemployment and Sectoral Income Growth Dispersion: Evidence from EU Countries 
Journal of Economic Asymmetries, 3, 2006: 83–102

Aaron Mehrotra – Timo Välilä
Public Investment in Europe: Evolution and Determinants in perspective
Fiscal studies, 27; 4, 2006: 443–471
 
Albert Carreras – Concepción Garciá-Iglesias – Juha Kilponen 
Un Siglo y Media de Velocidad de Circulación del Dinero en España: Estimatión y Determinantes
Revista de Historia Economica (Journal of Iberian and Latin American Economic History), N.º 2. Otoño 2006. Año XXIV 
 
Tuomas Takalo – Klaus Kultti – Juuso Toikka
Cross-Licensing and Collusive Behaviour
Homo Oeconomicus, 23, 2, 2006: 181–194

Markku Lanne 
Nonlinear dynamics of interest rate and inflation
Journal of Applied Econometrics, 21, 2006: 1157–1168
(BoF DP 21/2002) 

Maritta Paloviita 
Inflation dynamics in the euro area and the role of expectations
Empirical Economics, Volume 31, No. 4, November 2006: 847–860
(BoF DP 21/2004)

Luis J. Àlvarez – Emmanuel Dhyne – Marco Hoeberichts – Claudia Kwapil – Hervé Le Bihan – Patrick Lünnemann –
Fernando Martins – Roberto Sabbatini – Harald Stahl – Philip Vermeulen – Jouko Vilmunen 

Sticky Prices in the Euro Area: A Summary of New Micro-Evidence
Journal of the European Economic Association, 4, 2–3, 2006: 575–584
 
Yehning Chen – Iftekhar Hasan 
The transparency of the banking system and the efficiency of information-based bank runs
Journal of Financial Intermediation, Volume 15, Issue 3, July 2006: 307–331
(BoF DP 24/2005)

Heiko Schmiedel – Markku Malkamäki – Juha Tarkka 
Economies of scale and technological development in securities depository and settlement systems
Journal of Banking & Finance, 30, 6, June 2006: 1783–1806
(BoF DP 26/2002)

Marco Sorge – Kimmo Virolainen 

A comparative analysis of macro stress-testing methodologies with application to Finland
Journal of Financial Stability, Vol. 2, Issue 2, June 2006: 113–151
 
Klaus Kultti – Tuomas Takalo – Juuso Toikka
Simultaneous Model of Innovation, Secrecy, and Patent Policy
American Economic Review, Volume 96, Issue 2, May 2006: 82–86
 
Emmanuel Dhyne – Luis J. Àlvarez – Hervé Le Bihan – Giovanni Veronese – Daniel Dias – Johannes Hoffman –
Nicole Jonker – Patrick Lünnemann – Fabio Rumler – Jouko Vilmunen
Price changes in the euro area and the United States: Some facts from individual consumer price data
Journal of Economic Perspectives, 20, 2, Spring 2006: 171–192
 
Martin Ellison – Liam Graham – Jouko Vilmunen 
Strong contagion with weak spillovers
Review of Economic Dynamics, Volume 9, Issue 2, April 2006: 263–283
 
Luis H. R. Alvarez – Erkki Koskela 
Irreversible Investment under Interest Rate Variability: Some Generalizations
Journal of Business, 79, 2, March 2006: 623–644
(BoF DP 29/2003)
 
Jukka Jalava – Matti Pohjola – Antti Ripatti – Jouko Vilmunen 
Biased Technical Change and Capital-Labour Substitution in Finland, 1902–2003
Topics in Macroeconomics, Vol. 6, No. 1, Article 8
 

 2005

 

Esa Jokivuolle – Markku Lanne
Trading Nokia: The roles of the Helsinki vs the New York stock exchanges
The Finnish Journal of Business Economics, 3/2005: 361–374
(BoF DP 26/2004) 

Maritta Paloviita – David Mayes 
The use of real-time information in Phillips-curve relationships for the euro area
The North American Journal of Economics and Finance, Volume 16, Issue 3, December 2005: 415–434
(BoF DP 16/2004)

Martin Ellison – Jouko Vilmunen 
A simple approach to identifying the incentives for policy experimentation
Economics Letters, Volume 86, Issue 2, February 2005: 167–172

Juha Kilponen – Pekka Sinko
Taxation and centralised wage setting: The case of endogenous labour supply
Scottish Journal of Political Economy, Vol. 52, No. 4, September 2005: 587–606

Ari Hyytinen – Tuomas Takalo 
Corporate Law and Small Business Finance: Mandatory v. Enabling Rules
European Business Organization Law Review (EBOR), Volume 6, Issue 03, September 2005: 449–466

Matti Virén 
Suicide and business cycles: new empirical evidence
Applied Economics Letters, 12, No 14, 2005: 887–891

David Mayes – Matti Virén 
Monetary Policy Problems for Currency Unions: Asymmetry and the Problem of Aggregation in the Euro Area
Economic Modelling, Vol. 22, No 2, March 2005: 219–51

David Mayes 
Who Pays for Bank Insolvency in Transition and Emerging Economies?
Journal of Banking and Finance, Vol. 29, No. 1 (Special Issue), January 2005: 161–81

John. P. Bonin – Iftekhar Hasan – Paul Wachtel
Privatization matters: Bank Efficiency in transition countries
Journal of Banking and Finance, Vol. 29, 2005: 2155–2178
(BOFIT DP 8/2004)
 

 2004

 

Ville Mälkönen
Capital adequacy regulation and financial conglomerates
Journal of International Banking Regulation, Vol. 6, No. 1, 2004:1–20
(BoF DP 10/2004)

Jaakko Kiander – Juha Kilponen – Jouko Vilmunen 

Labor Taxation, Public Finance, and Wage Determination: Evidence from OECD Countries
European Journal of Political Economy, Vol. 20, No. 4, 2004: 983–999

Samu Peura – Esa Jokivuolle 
Simulation based stress tests of banks' regulatory capital
Journal of Banking and Finance, Vol. 28, No. 8, 2004: 1801–1824
(BoF DP 4/2003)

Jukka Pirttilä 
Is international labour mobility a threat to the welfare state; Evidence from Finland in the 1990s
Finnish Economic Papers, Vol. 17, No. 1, 2004: 18–34

Michele Bagella – Leonardo Becchetti – Iftekhar Hasan 
The anticipated and concurring effects of the EMU: exchange rate volatility, institutions and growth
Journal of International Money and Finance, Vol. 23, Issues 7–8, 2004: 1053–1080

Allen Berger – Iftekhar Hasan – Leora Klapper
Further Evidence on the Link between Finance and Growth: An International Analysis of Community Banking and Economic Performance
Journal of Financial Services Research, Vol. 25, No. 2–3, 2004: 169–202

Iftekhar Hasan  – James R. Lothian – Juha Tarkka 
Overview of the special issue on banking, development and structural change
Journal of International Money and Finance, Vol. 23, Issue 3, 2004: 305–310

Iftekhar Hasan – Heiko Schmiedel 
Networks and equity market integration: European evidence
International Review of Financial Analysis, Vol. 13, Issue 5, 2004: 601–619

Iftekhar Hasan  – Larry D. Wall
Determinants of the Loan Loss Allowance: Some Cross-Country Comparisons
Financial Review, Vol. 39, No. 1, 2004: 129–152

Ari Hyytinen – Tuomas Takalo 
Preventing systemic crises through bank transparency
Economic Notes, 33, 2004: 257–273

Karlo Kauko 
The Links between Securities Settlement Systems: An Oligopoly Theoretic Approach
International Review of Financial Analysis, Vol. 13, Issue 5, 2004: 585–500
(BoF DP 27/2002)

David Mayes 
Who Pays for Bank Insolvency?
Journal of International Money and Finance, Vol. 23 (3), 2004: 515–551

David Mayes  – Matti Virén 
Pressures on the Stability and Growth Pact from asymmetry in Policy
Journal of European Public Policy, Volume 11, Number 5, October 2004: 781–797

Nico Valckx 
The Decomposition of US and Euro Area Stock and Bond Returns and Their Sensitivity to Economic State Variables
European Journal of Finance, Vol. 10, No. 2, 2004: 149–173

Matti Virén 
Government Size and Output Volatility: Is There a Relationship
International Economics, Vol. 57, No. 3, 2004: 349–352
(BoF DP 8/2005)

Mika Pösö – Livio Stracca

What is the Role of the Monetary Base in Monetary Policy Today?
Kredit und Kapital, Vol. 37, No. 2, 2004: 169–201

Harry Leinonen
Network-Based Payments and E-Settlement
Journal of Financial Transformation,  No. 12, December 2004: 125–30

Harry Leinonen –  Kimmo Soramaki
Simulation: A Powerful Research Tool in Payment and Settlement Systems
Journal of Financial Transformation,  No. 12, December 2004: 79–84
(BoF DP 23/2003)
 

 2003

 

Jukka Topi – Jouko Vilmunen 
Transmission of monetary policy shocks in Finland: Evidence from bank-level data on loans
Monetary Policy Transmission in the Euro Area, I. Angeloni – A. Kashyap – B. Mojon (eds.), 2004: 372–380

Michael Ehrmann – Martin Ellison  – Natacha Valla
Regime-dependent impulse response functions in a Markov-switching vector autoregression model
Economics Letters, Vol. 78, No. 3, 2003: 295–299

Iftekhar Hasan  – Markku Malkamäki – Heiko Schmiedel 
Technology, automation, and productivity of stock exchanges: International evidence
Journal of Banking and Finance, Vol. 27, No. 9, 2003: 1743–1773
(BoF DP 4/2002)

Esa Jokivuolle – Samu Peura
Incorporating collateral value uncertainty in loss given default estimates and loan-to value ratios
European Financial Management, Vol. 9, Issue 3, 2003: 299–314

Tapio Korhonen 
Finnish monetary and foreign exchange policy on the way towards the euro
Finance a úvér – Czech Journal of Economics and Finance, 53, 2003: 430–448

Erkki Koskela  – Markku Ollikainen
A behavioral and welfare analysis of progressive forest taxation
Canadian Journal of Forest Research, 33 (12), 2003: 2352–2361

Erkki Koskela  – Markku Ollikainen
Optimal forest taxation under private and social amenity valuation
Forest Science, 49 (4), 2003: 596–607

Markku Lanne 
Testing the expectations hypothesis of the term structure of interest rates in the presence of a potential regime shift
Manchester School, 71, 2003: 54–77

David Mayes 
Contracts and competition in the regulation of European stock exchanges
Journal of Financial Regulation and Compliance, Vol. 11 (2), 2003: 121–137

David Mayes 
How to bring about a robust exit for an insolvent bank
Central Banking, Vol. 14 (1), 2003: 70–74

Juha-Pekka Niinimäki 
Maturity transformation without maturity mismatch and bank panics
Journal of Institutional and Theoretical Economics, Vol. 159, No. 3, 2003: 511–522

Ari Hyytinen – Iikka Kuosa – Tuomas Takalo 
Law or finance: evidence from Finland
European Journal of Law and Economics, 16, 2003: 59–89
(BoF DP 8/2002)

George Evans – Seppo Honkapohja 
Friedman's Money Supply Rule vs. Optimal Interest Rate Policy
Scottish Journal of Political Economy, Vol. 50, No. 5, November 2003: 550–66
 

 2002

 

Ari Hyytinen – Tuomas Takalo 
Enhancing bank transparency: A re-assessment
European Finance Review, Vol. 6, 3, 2002: 429–445

A. Anari – J. Kolari – S. Pynnönen – A. Suvanto 
Further evidence on the credit view: the case of Finland
Applied Economics, 34, 2002: 267–278

Angela Huang – Dimitri Magaritis – David G. Mayes 
Monetary Policy Rules in Practice: Evidence from New Zealand
Multinational Finance Journal, Vol. 5 (3), 2002: 175–200

Esa Jokivuolle 
Financial Markets: Shock Absorbers or Shock Creators
The Finnish Journal of Business Economics (Liiketaloudellinen aikakauskirja), 2, 2002: 181–186

Klaus Kultti – Tuomas Takalo 
Hold-ups and Asymmetric Information in a Technology Transfer: The Micronas Case
Journal of Technology Transfer, 27, 2002: 233–243

David G. Mayes 
Social exclusion and macro-economic policy in Europe: a problem of dynamic and spatial change
Journal of European Social Policy, Vol. 12 (3), 2002: 195–209

David G. Mayes – Matti Virén 
Asymmetry and the Problem of Aggreation in the Euro Area
Empirica, 29, 2002: 47–73

David G. Mayes  – Matti Virén 
Financial Condition Indexes
Economia Internazionale, 4, 2002, 30 p.

Juha-Pekka Niinimäki 
Do time deposits prevent bank runs?
Journal of International Financial Markets, Institutions and Money, Vol. 12, No. 1, 2002: 19–31

Jukka Pirttilä 
Specific versus ad valorem Taxation and Externalities
Journal of Economics (Zeitschrift für Nationalökonomie), Vol. 76, No. 2, 2002: 177–187

Jukka Pirttilä – Matti Tuomala
Publicly provided private goods and redistribution: A general equilibrium analysis
Scandinavian Journal of Economics, Vol. 104, No. 1, 2002: 173–188

Oz Shy 
A quick-and-easy method for estimating switching costs
International Journal of Industrial Organization, Vol. 20, No. 1, 2002: 71–87

Antti Suvanto – David G. Mayes 
Beyond the Fringe: Finland and the Choice of Currency
Journal of Public Policy, 22, 2002: 4364

Juha Tarkka 
The Effects of EMU on the Finnish Economy: Some Early Conjectures
The Economic and Social Review, Vol. 33, No. 2, 2002: 161–177

Juha Tarkka 
Pricing of transaction services; The distortionary effects of taxation
Research in banking and finance, Vol. 2, 2002: 107–121

Juha Tarkka – Oz Shy 
The Market for Electronic Cash Cards
Journal of Money, Credit, Banking, Vol. 34, No. 2, 2002: 299–314
(BOF DP 21/1998)

Jukka Vauhkonen 
An incomplete contracts approach to financial contracting: a comment
Economics Bulletin, Vol. 7, No. 1, 2002: 1–3
 

 2001

 

Iftekhar Hasan  – Markku Malkamäki 
Are Expansions Cost Effective for Stock Exchanges? A Global Perspective
Journal of Banking and Finance, Vol. 24, No. 12, December 2001: 2339–66

Jussi Snellman – Jukka Vesala – David Humphrey
Substitution of Noncash Payment Instruments for Cash in Europe
Journal of Financial Services Research, Vol. 19, No. 2/3, 2001: 131–145

Esa Jokivuolle – Samu Peura
Regulatory Capital Volatility
Risk, Vol. 14, No 5, 2001: 95–98

Jaakko Kiander – Matti Virén 
Measuring Labour Market Flexibility on the OECD Countries
Empirica, 2, 2001: 187–201

Antti Ripatti – Pentti Saikkonen 
Vector Autoregressive Processes with Nonlinear Time Trends in Cointegrating Relations
Macroeconomic Dynamics, Vol. 5, Nro 4, 2001: 577–597

Pekka Sutela 
Geld, Banken und Staat in Sozialismus und transformation. Vom Zusammenbruch der Sowjetunion zur Finanz-krise
in der Russischen Federation
Economic Systems, Vol. 25, No 2, 2001: 170–171

Juha Tarkka 
Pricing of Transaction Services: The Distortionary Effects of Taxation
Research in Banking and Finance, Vol. 2, 2001: 107–122

Nico Valckx 
Modeling Asset Premiums and the Riskfree Rate in General Equilibrium CCAPM
Review of Quantitative Finance and Accounting, Vol. 17, 2001: 107–126

Matti Virén 
The Okun Curve is Non-Linear
Economic Letters, Vol. 70, No. 2, 2001: 253–257

Matti Virén 
Modelling crime and punishment
Applied Economics, Volume 33, Number 14, 15 November 2001: 1869–1879

Klaus Kultti – Juha-Pekka Niinimäki 
About Equilibrium Wages
The Finnish Journal of Business Economics (Liiketaloudellinen aikakauskirja), Vol. 50, No. 1, 2001: 131–34
 

 2000

 

Juha Kilponen – David Mayes – Jouko Vilmunen 
Labour Market Flexibility in the Euro Area
European Business Journal, Vol. 12, Issue 2, 2000: 100–110

Nigel Grimwade – David Mayes 
Trends in EU-East Asian Trade and Their Implications for Europe’s ASEM Programme
Journal of Economic Integration, 15 (3), 2000: 355–396

Erkki Koskela  – Rune Stenbacka
Is There a Tradeoff between Bank Competition and Financial Fragility?
Journal of Banking and Finance, 24, 12, 2000: 1853–1873

Erkki Koskela – Matti Virén 
Is There a Laffer Curve between Aggregate Output and Public Sector Employment
Empirical Economics, 25, 2000: 605–621

Jukka Pirttilä 
A Many -Person Corlett-Hague Tax Rule with Externalities
Oxford Economic Papers, 52, 2000: 595–605

Matti Virén 
Analysing Long Memory and Asymmetries
European Journal of Finance, Vol. 6, No, 2, June 2000: 240–258

Matti Virén 
Measuring Effectiveness of Fiscal Policy in OECD Countries
Applied Economics Letters, 7, 2000: 29–34

David Mayes – Matti Virén 
The Exchange Rate and Monetary Conditions in the Euro Area
Weltwirtschaftliches Archiv, 136, 2, 2000: 199–231

Mika Kortelainen – Hanna-Leena Männistö – Mika Tujula – Alpo Willman
The BOF5 Macroeconomic Model of Finland, Structure and Dynamic Microfoundations
Economic Modelling, 17, 2000: 275–303

Erkki Koskela – Matti Virén 
Bank mergers and the fragility of loan markets
Finnish Economic Papers, 13 (1) 2000: 3–18

Iain Begg – David Mayes 
Decentralised Industrial Policy
European Planning Studies, Vol. 8, No. 2, 2000: 149–156

David Mayes – Jukka Vesala 
On the Problems of Home Country Control
Current Economics and Politics of Europe, Vol. 10 (1), 2000: 1–25

Antti Ripatti – Pentti Saikkonen
On the Estimation of Euler Equations in the Presence of a Potential Regime Shift
Supplement to the Manchester School, Vol. 68, 2000: 92–121
 

 1990–1999

 

1999

Matti Virén 
Testing the “Natural Rate of Suicide” Hypothesis
International Journal of Social Economics, 26,1999: 1428–1440

Juhana Hukkinen – Matti Virén 
Assessing the Forecasting Performance of a Macroeconomic Model
Journal of Policy Modelling, 21 (6),1999: 753–768

Matti Virén  – Juhana Hukkinen 
How to Evaluate the Forecasting Performance of a Macroeconomic Model?
Macromodels, 25,1999: 27–50

Pekka Sutela 
The Economics and Politics of Integration – A Finnish Perspective
Journal of Comparative Economics, 27, 1999: 782–784

Laura Solanko – Merja Tekoniemi 
Novgorod and Pskov
Russian and East European Finance and Trade, Vol. 35, No. 2, 1999: 42–58

Ritva Luukkonen – Antti Ripatti – Pentti Saikkonen
Testing for a Valid Normalization of Cointegrating Vectors in Vector Autoregressive Processes
Journal of Business & Economic Statistics, 7 (2), 1999: 195–205

Risto Herrala 
Banking Crises vs. Depositor Crises: The Era of the Finnish Markka
Scandinavian Economic History Review, 2, 1999: 5–22

Pekka Ilmakunnas – Jukka Topi 
Microeconomic and Macroeconomic Influences on Entry and Exit of Firms
Review of Industrial Organization, 15, 1999: 283–301

Tuomas Komulainen 
Currency Crisis Theories – Some Explanations for the Russian Case
Ekonomitsheski Zhurnal Vysshei Shkoly Ekonomiki, Vol. 3, No. 1, 1999: 3–27

Hanna Pesonen – Iikka Korhonen 
The Short and Variable Lags of Russian Monetary Policy
Russian and East European Finance and Trade, Vol. 35, No. 2, 1999: 59–72

Jukka Pirttilä 
Earmarking of Environmental Taxes and Pareto-Efficient Taxation
Finanzarchiv, Vol. 56, No. 2, 1999: 202–217

Jukka Pirttilä – Ronnie Schöb
Redistribution and Internalization: The Many-Person Ramsey Tax
Public Finance Review, Vol. 27, No. 5, 1999: 541–560 

1998

David Mayes – W. A. Razzak
Transparency and Accountability: Empirical Models and Policy Making At the Reserve Bank of New Zealand
Economic Modelling, Vol. 15, No. 3, July 1998: 377–94
 
Antti Ripatti 
Stability of the Demand for M1 and Harmonized M3 in Finland
Empirical Economics, Vol 23, No 3, 1998; 317–37

Heikki Hella – Kari Takala
Estimating Current Account by Using System Methods and Barometer Variables
Ifo Studien,  1998, v. 44, iss. 4: 433–65
 
Niina Pautola – Pekka Sutela
EU Eastern Enlargement: Advantages and Dangers for Estonia
MOCT-MOST: Economic Policy in Transitional Economies  1998, v. 8, iss. 2: 121–41

Pekka Sutela
The Role of Banks in Financing Russian Economic Growth
Post-Soviet Geography and Economics, February 1998, v. 39, iss. 2: 96–124

Pekka Sutela
Hotbilder och utmaningar I rysslands ekonomi. (Russian Economic Growth: Threats and Challenges. With English summary.)
Ekonomiska Samfundets Tidskrift,  1998, v. 51, iss. 1: 5–13
  

1997

David Mayes
The New Zealand "experiment": Using economic theory to drive policy
Policy Options, Vol 18, No 7, 1997: 34–36

1996

Matti Virén – Kari Takala 
Chaos and nonlinear dynamics in financial time series: Evidence from Finland
European Journal of Operational Research, 93, 1996: 155–172

David Humphrey – Lawrence Pulley – Jukka Vesala
Cash, Paper, and Electronic Payments: A Cross-Country Analysis
Journal of Money, Credit and Banking,  Part 2 November 1996, v. 28, iss. 4: 914–39

Ralf Pauli 

Centralbankens roll i betalningssystemen nu och i framtiden. (The Central Bank's Role in Current and Future Payment Systems)
Ekonomiska Samfundets Tidskrift, Vol. 49, No. 1, 1996: 9–16
 
Kjell Peter Söderlund 
EMU-bygget. (The EMU)
Ekonomiska Samfundets Tidskrift, Vol. 49, No. 3–4, 1996: 161–68


1995

Esa Jokivuolle 
Measuring True Stock Index Value in the Presence of Infrequent Trading
Journal of Financial and Quantitative Analysis, Vol. 30, No. 3, September 1995: 455–64
 
Pekka Ilmakunnas 
Working time and labour demand in Finnish manufacturing: Short-run and long-run effects
Applied Economics, Vol. 27, 1995: 995–1002
 
Timo Tyrväinen 
Wage Setting, Taxes and Demand for Labour: Multivariate Analysis of Cointegrating Relations
Empirical Economics, Vol. 20, No. 2, 1995: 271–97
 
Peter Nyberg 
The Banking Crisis in Finland
Ekonomiska Samfundets Tidskrift, Vol. 48, No. 3, 1995: 115–20
 

1994

Markku Malkamäki 
The Superiority of Time-Varying Betas in the Finnish Stock Market
Journal of Multinational Financial Management, Vol. 4, No. 1–2, 1994: 47–65
 
Markus Fogelholm 
The Finnish Markka under a Floating System
Economic and Financial Review, Vol. 1, No. 2–3, Summer–Autumn 1994: 109–21
 
Pekka Ilmakunnas 
Returns to Workers and Hours in Finnish Manufacturing
Empirical Economics, Vol. 19, No. 4, 1994: 533–53
 
Martin Dufwenberg – Heikki Koskenkylä – Jan Södersten
Manufacturing Investment and Taxation in the Nordic Countries
Scandinavian Journal of Economics, Vol. 96, No. 3, 1994: 443–61
 
Seija Lainela 
Private Sector Development and Liberalisation in the Baltic Countries
Communist Economies and Economic Transformation, Vol 6, No 2, 1994: 175–86
 
Pekka Sutela 
Production, Employment and Inflation in the Baltic Countries
Communist Economies and Economic Transformation, Vol. 6, No. 2, 1994: 157–73
 
Risto Murto 
Finnish Banking Crisis: Can We Blame Bank Management?
Finnish Economic Papers, Vol. 7, No. 1, Spring 1994: 56–68
 
Sirkka Hämäläinen 
Penningpolitikens mojligheter och begransningar. (Monetary Policy – Possibilities and Restrictions)
Ekonomiska Samfundets Tidskrift, Vol. 47, No. 1, 1994: 25–34
 
Sinikka Salo 
Modelling the Finnish Housing Market
Economic Modelling, Vol. 11, No. 2, April 1994: 250–65
 
Pekka Ilmakunnas 
Energy crises and change of technology
Journal of Applied Econometrics, Vol. 9, 1994: 305–320
 
Juha Seppälä 
The diversification of currency loans: A comparison between safety-first and mean-variance criteria
European Journal of Operational Research, 74, 1994: 325–343
 
Pekka Sutela 
Should Finland join the European Union?
Scandinavian Review, 1, 1994:14–18
 
Pekka Sutela 
Insider privatisation in Russia: Speculations on systemic change
Europe-Asia Studies, Vol. 46, No. 3, 1994: 417–435
 

1993

Seija Lainela 
Currency Reforms in the Baltic States
Communist Economies and Economic Transformation,  Vol. 5, No. 4, 1993: 427–43
 
Sinikka Salo 
Strategier i bostadsforetagen. (Strategies in Housing Construction.)
Ekonomiska Samfundets Tidskrift, Vol. 46, No. 1, 1993: 37–41
 
Pekka Sutela
Clearing, money, and investment, the Finnish perspective on trading with the USSR
Russian and East European Finance and Trade, No. 4, Winter 1992–1993: 3–29
 
Matti Virén – Erkki Koskela
An economic model of auto thefts in Finland
International Review of Law and Economics, Volume 13, Issue 2, June 1993: 179–191

Sigbjørn Atle Berg – Finn R. Førsund – Lennart Hjalmarsson – Matti Suominen
Banking efficiency in the Nordic countries
Journal of Banking & Finance, Vol. 17, Issues 2–3, April 1993: 371–388
 

1992

Heikki Koskenkylä 
Bankkrisen i de nordiska landerna. (The Bank Crisis in the Nordic Countries)
Ekonomiska Samfundets Tidskrift, Vol. 45, No. 4, 1992: 183–99

Heikki Koskenkylä
Paaomatulojen verouudistus jatkuu: Ehdotettu rakenne oikeansuuntainen, mutta taso väärä. (Capital Income Tax Reform. With English summary.) 
Liiketaloudellinen Aikakauskirja/Finnish Journal of Business Economics,  1992, v. 41, iss. 2, pp. 130–42 

Heikki Koskenkylä – Christian Starck
Tag lonesankningsalternativet pa allvar. (A Decrease in Wages--A Considerable Alternative. With English summary.) 
Ekonomiska Samfundets Tidskrift,  1992, v. 45, iss. 3: 159–67 

Christian Starck
Centralbankens sjalvstandighet. Argument och internationella erfarenheter. (The Independence of the Central Bank--Some Arguments and International Experience. With English summary.)
Ekonomiska Samfundets Tidskrift,  1992, v. 45, iss. 2: 83–95

Arto Kovanen 

The heterogeneity of labor, wage indexation and welfare
European Economic Review, Vol. 36, Issue 1, January 1992: 37–49

Arto Kovanen 
Incomplete information, stabilization, and the relationship between inflation and unemployment
Journal of Macroeconomics, Vol. 14, Issue 2, Spring 1992: 305–319
 
Timo Tyrväinen 
Unions, wages and unemployment: Evidence from Finland
Applied Economics, 24, 1992: 1275–1286
 
Matti Virén 
Financial innovations and currency demand: Some new evidence
Empirical Economics, Vol. 17, Issue 4, 1992: 451–61
 
Matti Virén – Erkki Koskela
Monetary policy reaction functions and saving investment correlations: Some cross-country evidence
Weltwirtschaftliches Archiv, 1991: 452–471
 
Matti Virén – Erkki Koskela
Inflation, capital markets and household saving in Nordic countries
Scandinavian Journal of Economics, Vol. 94, No. 2, 1992: 215–227
 
Matti Virén – Erkki Koskela – Heikki A. Loikkanen
Housing markets, taxation and financial liberalization: Evidence from Finland
European Economic Review, 36, 2/3, April 1992: 549–558
 
Matti Virén – Erkki Koskela
Capital market imperfections, taxes and household saving
European Journal of Political Economy, Vol. 8, Issue 1, February 1992: 77–88
 

1991

Markku J. Malkamäki – Teppo Martikainen – Jukka Perttunen
On the riskiness of the world's stock markets
European Journal of Operational Research, Vol. 53, Issue 3, 15 August 1991: 288–296

Christian Starck
The Interest Rate Elasticity of Aggregate Consumption: A Time Varying Parameter Approach
Finnish Economic Papers,  Autumn 1991, v. 4, iss. 2, 142–53

Alpo Willman
Why There Is a Lower Bound on the Central Bank's Foreign Reserves
Finnish Economic Papers,  Autumn 1991, v. 4, iss. 2, 113–29

Kari Takala – Pekka Pere 
Testing the Cointegration of House and Stock Prices in Finland 
Finnish Economic Papers,  Spring 1991, v. 4, iss. 1, 33–51 

Seppo Kostiainen – Christian Starck  
Does Government and Corporate Saving Influence Household Saving in Finland? 
Liiketaloudellinen Aikakauskirja/Finnish Journal of Business Economics,  1991, v. 40, iss. 2, 128–44 

Rolf Kullberg
Finansmarknadens avreglering--ett mognadsprov. (The Deregulation of the Financial Market--'A Test of Maturity.' With English summary.)
Ekonomiska Samfundets Tidskrift, 1991, v. 44, iss. 1, 29–46

Christian Starck 
Konjunkturfluktuationer--Hur, och hur val forklarar vi dem? (Cyclical Fluctuations--How and How Well Are They Explained? With English summary.) 
Ekonomiska Samfundets Tidskrift,  1991, v. 44, iss. 3, 135–42 

Rolf Myhrman – Alpo Willman
Matning av budgetens stabiliseringserffekt. (Estimating the Budget Stabilisation Effect. With English summary.)
Ekonomiska Samfundets Tidskrift, 1991, v. 44, iss. 3, 143–63
 
Pekka Sutela 
Sovjetunionens ekonomi och handel med Finland. (The Soviet Economy and Trade with Finland. With English summary.)
Ekonomiska Samfundets Tidskrift, 1991, v. 44, iss. 4, 201–06 
 

1990

Matti Virén 
Recent Finnish Developments in Financial Wealth and Money and Credit Aggregates
The Finnish Journal of Business Economics (Liiketaloudellinen aikakauskirja), Vol. 39, No. 2, 1990: 100–108
 
Matti Virén
McKinnon's Currency Substitution Hypothesis: Some New Evidence
Economia Internazionale,  May-August 1990, v. 43, iss. 2-3: 226–34

Matti Virén
Currency Substitution, Financial Innovations and Money Demand: A Note 
Applied Economics,  November 1990, v. 22, iss. 11, 1591–96

Matti Virén
A Note on Finnish Property Criminality
International Journal of Social Economics,  1990, v. 17, iss. 9, 55–59

Olli-Pekka Lehmussaari
Why Saving Fell in the Nordic Countries
Finance and Development,  June 1990, v. 27, iss. 2: 15–17
 
Alowin Moes – Esko Aurikko
The Stock Market and Monetary Policy in Finland
Liiketaloudellinen Aikakauskirja/Finnish Journal of Business Economics,  1990, v. 39, iss. 3, 192–207

Christian Starck
Makroekonometri och metodologi. (Macroeconometrics and Methodology. With English summary.)
Ekonomiska Samfundets Tidskrift,  1990, v. 43, iss. 4, 307–10

Esko Ollila
Bankernas okade risker pa 1990-talet. (Increased Risks in Banking in the 1990s. With English summary.)
Ekonomiska Samfundets Tidskrift,  1990, v. 43, iss. 3, 185–93