The Bank of Finland aims to have the results of its research activities published in international peer-reviewed journals.

Selected publications

2019

D'Acunto, Francesco; Hoang, Daniel; Paloviita, Maritta; Weber, Michael
Cognitive Abilities and Expectations
Forthcoming: AEA Papers and Proceedings, 2019
Francis, Bill; Hasan, Iftekhar; Liu, LiuLing; Wang, Haizhi
Senior debt and market discipline: Evidence from bank-to-bank loans
Published: Journal of Banking and Finance, 98, January, 2019, 170-182

2018

Mazboudi, Mohamad; Hasan, Iftekhar
Secrecy, information shocks, and corporate investment : Evidence from European Union countries
Published: Journal of International Financial Markets, Institutions and Money, 54, May, 2018, 166-176
Ristolainen, Kim
Predicting Banking Crises with Artificial Neural Networks: The Role of Nonlinearity and Heterogeneity
Published: Scandinavian Journal of Economics, 120, 1; January, 2018, 31-62
Hasan, Iftekhar; Khurshed, Arif; Mohamed, Abdulkadir; Wang, Fan
Do venture capital firms benefit from a presence on boards of directors of mature public companies?
Published: Journal of Corporate Finance, 49, April, 2018, 125-140
Faria, Gonçalo; Verona, Fabio
Forecasting stock market returns by summing the frequency-decomposed parts
Published: Journal of Empirical Finance, 45, January, 2018, 228–242
Hyytinen, Ari; Putkuri, Hanna
Household Optimism and Overborrowing
Published: Journal of Money, Credit and Banking, 50, 1; February, 2018, 55-76
Bui, Dien Giau; Chen, Yan-Shing; Hasan, Iftekhar; Lin, Chih-Yung
Can lenders discern managerial ability from luck? Evidence from bank loan contracts
Published: Journal of Banking and Finance, 87, February, 2018, 187-201
Fang, Yiwei; Francis, Bill; Hasan, Iftekhar
Differences make a difference: Diversity in social learning and value creation
Published: Journal of Corporate Finance, 48, February, 2018, 474-491
Virtanen, Timo; Tölö, Eero; Virén, Matti; Taipalus, Katja
Can bubble theory foresee banking crises?
Published: Journal of Financial Stability, 36, June, 2018, 66-81
Davydov, Denis; Fungáčová, Zuzana; Weill, Laurent
Cyclicality of Bank Liquidity Creation
Published: Journal of International Financial Markets, Institutions and Money, 55, July, 2018, 81-93
Tölö, Eero; Laakkonen, Helinä; Kalatie, Simo
Evaluating Indicators for Use in Setting the Countercyclical Capital Buffer
Published: International Journal of Central Banking, 14, 2 (March), 2018, 51-112
Lin, Chih-Yung ; Tsai, Wei-Che; Hasan, Iftekhar; Tuan, Le Quoc
Private benefits of control and bank loan contracts
Published: Journal of Corporate Finance, 49, April, 2018, 324-343
Łyziak, Tomasz; Paloviita, Maritta
On the formation of inflation expectations in turbulent times: the case of the euro area
Published: Economic Modelling, 72, June, 2018, 132-139
Silvo, Aino
The interaction of monetary and macroprudential policies
Online First: Journal of Money, Credit and Banking, 2018
Tukiainen, Janne; Takalo, Tuomas; Hulkkonen, Topi
Relative Age Effects in Political Selection
Online First: European Journal of Political Economy, 2018
Granziera, Eleonora; Moon, Hyungsik Roger; Schorfheide, Frank
Inference for VARs Identified with Sign Restrictions
Published: Quantitative Economics, 9, 3, 2018, 1087-1121
Acemoglu, Daron; Akcigit, Ufuk; Alp, Harun; Bloom, Nicholas; Kerr, William
Innovation, Reallocation, and Growth
Published: American Economic Review, 108, 11 (November), 2018, 3450-91
Delis, Manthos D.; Hasan, Iftekhar; Iosifidi, Maria; Li, Lingxiang
Accounting quality in banking: The role of regulatory interventions
Published: Journal of Banking and Finance, 97, December, 2018, 297-317

2017

Łyziak, Tomasz; Paloviita Maritta
Anchoring of inflation expectations in the euro area: recent evidence based on survey data
Published: European Journal of Political Economy, 46, January, 2017, 52-73
Chang, Roberto; Fernandez, Andres; Gulan, Adam
Bond finance, bank credit, and aggregate fluctuations in an open economy
Published: Journal of Monetary Economics, 85, January, 2017, 90-109
Delis, Manthos D. ; Gaganis, Chrysovalantis ; Hasan, Iftekhar ; Pasiouras, Fotios
The effect of board directors from countries with different genetic diversity levels on corporate performance
Published: Management Science, 63, 1, January, 2017, 231-249
Fungáčová, Zuzana; Weill, Laurent; Zhou, Mingming
Bank Capital, Liquidity Creation and Deposit Insurance
Published: Journal of Financial Services Research, 51, 1, 2017, 97-123
Delis, Manthos D. ; Hasan, Iftekhar; Mylonidis, Nikolaos
The Risk-Taking Channel of Monetary Policy in the U.S.: Evidence from Corporate Loan Data
Published: Journal of Money, Credit and Banking, 49, 1; February, 2017, 187-213
Ghani, Ejaz; Goswami, Arti Grover; Kerr, William
Highways and Spatial Location within Cities: Evidence from India
Published: World Bank Economic Review, 30, Supplement_1, March, 2017, S97–S108
Hasan, Iftekhar; Jackowicz, Krzysztof; Kowalewski, Oskar; Kozłowski, Łukasz
Do local banking market structures matter for SME financing and performance? New evidence from an emerging economy
Published: Journal of Banking and Finance, 79, June, 2017, 142–158
Isoré, Marlène; Szczerbowicz, Urszula
Disaster risk and preference shifts in a New Keynesian model
Published: Journal of Economic Dynamics and Control, 79, 1 June, 2017, 97-125
Verona, Fabio; Martins, Manuel M.F.; Drumond, Inês
Financial shocks, financial stability, and optimal Taylor rules
Published: Journal of Macroeconomics, December, 2017, 1339-1351
Hasan, Iftekhar; Hoi, Chun Keung; Wu, Qiang; Zhang, Hao
Social Capital and Debt Contracting: Evidence from Bank Loans and Public Bonds
Published: Journal of Financial and Quantitative Analysis, 52, 3; June, 2017, 1017-1047
Doumpos, Michael; Hasan, Iftekhar; Pasiouras, Fotios
Bank overall financial strength: Islamic versus conventional banks
Published: Economic Modelling, 64, August, 2017, 513-523
Tölö, Eero; Jokivuolle, Esa; Virén, Matti
Do Banks' Overnight Borrowing Rates Lead Their CDS Price? Evidence from the Eurosystem
Published: Journal of Financial Intermediation, 31, July, 2017, 93-106
Francis, Bill B.; Hasan, Iftekhar; Hunter, Delroy M.; Zhu, Yun
Do managerial risk-taking incentives influence firms' exchange rate exposure?
Published: Journal of Corporate Finance, 46, October, 2017, 154-169
Mitra, Kaushik; Evans, George W. Evans; Honkapohja, Seppo
Fiscal Policy Multipliers in an RBC Model with Learning
Online First: Macroeconomic Dynamics, 2017
Fungáčová Zuzana; Shamshur, Anastasiya; Weill, Laurent
Does Bank Competition Reduce Cost of Credit? Cross-country Evidence from Europe
Published: Journal of Banking and Finance, 83, October, 2017, 104-120
Deli, Yota D. ; Hasan, Iftekhar
Real effects of bank capital regulations: Global evidence
Published: Journal of Banking and Finance, 82, September, 2017, 217-228
Granziera, Eleonora; Bauer, Gregory H.
Monetary Policy, Private Debt and Financial Stability Risks
Published: International Journal of Central Banking, 13, 3/ September, 2017, 337-373
Juselius,Mikael; Borio, Claudio; Disyatat, Piti; Drehmann, Mathias
Monetary Policy, the Financial Cycle, and Ultra-Low Interest Rates
Published: International Journal of Central Banking, 13, 4 ; September, 2017, 55-89
Fungáčová, Zuzana; Hasan, Iftekhar; Weill, Laurent
Trust in Banks
Online First: Journal of Economic Behavior and Organization, 2017
Caggiano, Giovanni; Castelnuovo, Efrem; Pellegrino, Giovanni
Estimating the Real Effects of Uncertainty Shocks at the Zero Lower Bound
Published: European Economic Review, 100, November, 2017, 257-272

2016

Verona, Fabio
Time-frequency characterization of the U.S. financial cycle
Published: Economics Letters, July, 2016, 75–79
Herrala, Risto; Turk-Ariss, Rima
Capital accumulation in a politically unstable region
Published: Journal of International Money and Finance, June, 2016, 1–15
Francis, Bill; Hasan, Iftekhar; Sun, Xian; Wu, Qiang
CEO political preference and corporate tax sheltering
Published: Journal of Corporate Finance, June 01, 2016, 37–53
Gwilym, Owain Ap; Hasan, Iftekhar; Wang, Qingwe; Xie, Ru
In Search of Concepts: The Effects of Speculative Demand on Stock Returns
Published: European Financial Management, 22, 3, 1 June, 2016, 427-449
Fungáčová, Zuzana; Nuutilainen, Riikka; Weill, Laurent
Reserve Requirements and the Bank Lending Channel in China
Published: Journal of Macroeconomics, Vol. 50, Dec. 2016, Pages 37–50, 2016
Haavio, Markus; Kotakorpi, Kaisa
Sin licenses revisited
Published: Journal of Public Economics, 144, December, 2016, 40–51
Honkapohja, Seppo; Turunen-Red, Arja H; Woodland, Alan D.
Growth, expectations and tariffs
Published: Canadian Journal of Economics, 49, 4 November, 2016, 1441-1469
Hasan, Iftekhar; Liu, Liuling; Zhang; Gaiyan
The Determinants of Global Bank Credit-Default-Swap Spreads
Published: Journal of Financial Services Research, 50, 3 / December, 2016, 275–309
Borio, Claudio; Disyatat, Piti; Juselius, Mikael
Rethinking potential output: embedding information about the financial cycle
Published: Oxford Economic Papers, 69, 3, 2016, 655-677
Abedifar, Pejman; Hasan, Iftekhar; Tarazi, Amine
Finance-growth nexus and dual-banking systems: Relative importance of Islamic banks
Published: Journal of Economic Behavior and Organization, 132, Supplement (Special issue on Islamic Finance), 2016, 198–215
Francis, Bill B.; Hasan, Iftekhar; Kostova, Gergana L.
When do peers matter?: A cross-country perspective
Published: Journal of International Money and Finance, December, 2016, 364–389
Francis Bill B.; Hasan, Iftekhar; John, Kose; Waisman, Maya
Urban Agglomeration and CEO Compensation
Published: Journal of Financial and Quantitative Analysis, 51, 6 (December), 2016, 1925-1953

Other series

Non-refereed research publications are occasionally compiled in Scientific monographs and are otherwise listed under Other research publications. BOFIT also publishes a more practically oriented BOFIT Policy Brief series.