The Bank of Finland aims to have the results of its research activities published in international peer-reviewed journals. The listing ‘Selected research’ includes publications in categories 1–3 of the Bank of Finland’s graduated quality scale (grades 1–4) for research publications.
Selected research
2023
Laine, Olli-Matti
Monetary Policy and Stock Market Valuation
Published: International Journal of Central Banking 1.3.2023
Monetary Policy and Stock Market Valuation
Published: International Journal of Central Banking 1.3.2023
Breitenlechner, Max;
Nuutilainen, Riikka
China’s Monetary Policy and the Loan Market: How Strong is the Credit Channel in China?
Published: Open Economies Review 10.1.2023
China’s Monetary Policy and the Loan Market: How Strong is the Credit Channel in China?
Published: Open Economies Review 10.1.2023
2022
Nurmi, Satu;
Vanhala, Juuso;
Virén, Matti
Are zombies for real? Evidence from zombie dynamics
Published: International Journal of Industrial Organization 27.10.2022
Are zombies for real? Evidence from zombie dynamics
Published: International Journal of Industrial Organization 27.10.2022
Fungáčová, Zuzana;
Kerola, Eeva;
Weill, Laurent
Does Experience of Banking Crises Affect Trust in Banks?
Published: Journal of Financial Services Research 2.10.2022
Does Experience of Banking Crises Affect Trust in Banks?
Published: Journal of Financial Services Research 2.10.2022
Fungáčová, Zuzana;
Kerola, Eeva;
Weill, Laurent
Does Bank Efficiency Affect the Bank Lending Channel in China?
Online First: Emerging Markets Review 19.9.2022
Does Bank Efficiency Affect the Bank Lending Channel in China?
Online First: Emerging Markets Review 19.9.2022
Borio, Claudio;
Disyatat, Piti ;
Juselius, Mikael;
Rungcharoenkitkul, Phurichai
Why So Low for So Long? A Long-Term View of Real Interest Rates
Published: International Journal of Central Banking 5.9.2022
Why So Low for So Long? A Long-Term View of Real Interest Rates
Published: International Journal of Central Banking 5.9.2022
Martinez, Joseba ;
Philippon, Thomas;
Sihvonen, Markus
Does a Currency Union Need a Capital Market Union
Published: Journal of International Economics 12.8.2022
Does a Currency Union Need a Capital Market Union
Published: Journal of International Economics 12.8.2022
Kilponen, Juha;
Vilmunen, Jouko;
Vähämaa, Oskari
Revisiting intertemporal elasticity of substitution in a sticky price model
Published: Journal of Economic Dynamics and Control 26.7.2022
Revisiting intertemporal elasticity of substitution in a sticky price model
Published: Journal of Economic Dynamics and Control 26.7.2022
Ambrocio, Gene;
Gu, Xian;
Hasan, Iftekhar
Political ties and raising capital in global markets: Evidence from Yankee bonds
Published: Journal of Corporate Finance 28.5.2022
Political ties and raising capital in global markets: Evidence from Yankee bonds
Published: Journal of Corporate Finance 28.5.2022
Blomkvist, Magnus ;
Korkeamäki, Timo ;
Takalo, Tuomas
Learning and staged equity financing
Published: Journal of Corporate Finance 16.5.2022
Learning and staged equity financing
Published: Journal of Corporate Finance 16.5.2022
Laine, Olli-Matti
The Term Structure of Equity Premia and the Macroeconomy : Some Results
Published: Economics Letters 14.5.2022
The Term Structure of Equity Premia and the Macroeconomy : Some Results
Published: Economics Letters 14.5.2022
Juvonen, Petteri
Wage-setting coordination in a small open economy
Online First: Scandinavian Journal of Economics 7.5.2022
Wage-setting coordination in a small open economy
Online First: Scandinavian Journal of Economics 7.5.2022
2021
McClung, Nigel
The Power of Forward Guidance and the Fiscal Theory of the Price Level
Published: International Journal of Central Banking 1.12.2021
The Power of Forward Guidance and the Fiscal Theory of the Price Level
Published: International Journal of Central Banking 1.12.2021
Ambrocio, Gene;
Gu, Xian;
Hasan, Iftekhar;
Politsidis, Panagiotis
The diplomacy discount in global syndicated loans
Published: Journal of International Money and Finance 6.11.2021
The diplomacy discount in global syndicated loans
Published: Journal of International Money and Finance 6.11.2021
D'Acunto, Francesco;
Hoang, Daniel;
Paloviita, Maritta;
Weber, Michael
IQ, Expectations, and Choice
Online First: Review of Economic Studies 31.10.2021
IQ, Expectations, and Choice
Online First: Review of Economic Studies 31.10.2021
Alpanda, Sami;
Granziera, Eleonora;
Zubairy, Sarah
State dependence of monetary policy across business, credit and interest rate cycles
Published: European Economic Review 15.10.2021
State dependence of monetary policy across business, credit and interest rate cycles
Published: European Economic Review 15.10.2021
Fungáčová, Zuzana;
Turk, Rima;
Weill, Laurent
High Liquidity Creation and Bank Failures
Published: Journal of Financial Stability 10.9.2021
High Liquidity Creation and Bank Failures
Published: Journal of Financial Stability 10.9.2021
Tölö, Eero;
Jokivuolle, Esa;
Virén, Matti
Have Too-Big-To-Fail Expectations Diminished? Evidence from the European Overnight Interbank Market
Published: Journal of Financial Services Research 15.8.2021
Have Too-Big-To-Fail Expectations Diminished? Evidence from the European Overnight Interbank Market
Published: Journal of Financial Services Research 15.8.2021
Ambrocio, Gene;
Hasan, Iftekhar
Quid pro quo? Political ties and sovereign borrowing
Published: Journal of International Economics 14.8.2021
Quid pro quo? Political ties and sovereign borrowing
Published: Journal of International Economics 14.8.2021
Stanisławska, Ewa;
Paloviita, Maritta;
Łyziak, Tomasz
Consumer inflation views: micro-level inconsistencies and macro-level measures
Published: Economics Letters 17.7.2021
Consumer inflation views: micro-level inconsistencies and macro-level measures
Published: Economics Letters 17.7.2021
Kultti, Klaus;
Takalo, Tuomas;
Vähämaa, Oskari
Intermediation in a Directed Search Model
Published: Journal of Economics & Management Strategy 15.6.2021
Intermediation in a Directed Search Model
Published: Journal of Economics & Management Strategy 15.6.2021
Haavio, Markus;
Jalasjoki, Pirkka;
Kilponen, Juha;
Paloviita, Maritta
What does "below, but close to, two per cent" mean? Assessing the ECB's reaction function with real time data
Published: International Journal of Central Banking 1.6.2021
What does "below, but close to, two per cent" mean? Assessing the ECB's reaction function with real time data
Published: International Journal of Central Banking 1.6.2021
Tölö, Eero;
Virén, Matti
How much do non-performing loans hinder loan growth in Europe?
Published: European Economic Review 26.5.2021
How much do non-performing loans hinder loan growth in Europe?
Published: European Economic Review 26.5.2021
Juselius, Mikael;
Takáts, Előd
Inflation and demography through time
Published: Journal of Economic Dynamics and Control 30.4.2021
Inflation and demography through time
Published: Journal of Economic Dynamics and Control 30.4.2021
Gulan, Adam;
Haavio, Markus;
Kilponen, Juha
Can large trade shocks cause crises? The case of the Finnish-Soviet trade collapse
Published: Journal of International Economics 24.4.2021
Can large trade shocks cause crises? The case of the Finnish-Soviet trade collapse
Published: Journal of International Economics 24.4.2021
Borio, Claudio;
Disyatat, Piti;
Juselius, Mikael;
Rungcharoenkitkul, Phurichai
Why so low for so long? A long-term view of real interest rates
Forthcoming: International Journal of Central Banking 8.4.2021
Why so low for so long? A long-term view of real interest rates
Forthcoming: International Journal of Central Banking 8.4.2021
Schmöller, Michaela;
Spitzer, Martin;
Elfsbacka Schmöller, Michaela
Deep Recessions, Slowing Productivity and Missing (Dis-)inflation in the euro area
Published: European Economic Review 5.3.2021
Deep Recessions, Slowing Productivity and Missing (Dis-)inflation in the euro area
Published: European Economic Review 5.3.2021
Francis, Bill B.;
Hasan, Iftekhar;
Shen, Yinjie (Victor);
Wu, Qiang
Do activist hedge funds target female CEOs? The role of CEO gender in hedge fund activism
Published: Journal of Financial Economics 27.2.2021
Do activist hedge funds target female CEOs? The role of CEO gender in hedge fund activism
Published: Journal of Financial Economics 27.2.2021
2020
Delis, Manthos D.;
Hasan, Iftekhar;
Iosifidi, Maria;
Ongena, Steven
Gender, Credit, and Firm Outcomes
Published: Journal of Financial and Quantitative Analysis 7.12.2020
Gender, Credit, and Firm Outcomes
Published: Journal of Financial and Quantitative Analysis 7.12.2020
Honkapohja, Seppo;
Mitra, Kaushik
Price level targeting with evolving credibility
Published: Journal of Monetary Economics 29.11.2020
Price level targeting with evolving credibility
Published: Journal of Monetary Economics 29.11.2020
Hasan, Iftekhar;
He, Qing;
Lu, Haitian
Social Capital, Trusting, and Trustworthiness: Evidence from Peer-to-Peer Lending
Published: Journal of Financial and Quantitative Analysis 3.11.2020
Social Capital, Trusting, and Trustworthiness: Evidence from Peer-to-Peer Lending
Published: Journal of Financial and Quantitative Analysis 3.11.2020
Arifin, Taufiq;
Hasan, Iftekhar;
Kabir, Rezaul
Transactional and relational approaches to political connections and the cost of debt
Published: Journal of Corporate Finance 22.10.2020
Transactional and relational approaches to political connections and the cost of debt
Published: Journal of Corporate Finance 22.10.2020
McClung, Nigel
E-Stability vis-a-vis Determinacy in Regime-Switching Model
Published: Journal of Economic Dynamics and Control 6.10.2020
E-Stability vis-a-vis Determinacy in Regime-Switching Model
Published: Journal of Economic Dynamics and Control 6.10.2020
Caggiano, Giovanni;
Castelnuovo, Efrem;
Nodari, Gabriela
Uncertainty and monetary policy in good and bad times: A Replication of the VAR investigation by Bloom (2009)
Forthcoming: Journal of Applied Econometrics 14.8.2020
Uncertainty and monetary policy in good and bad times: A Replication of the VAR investigation by Bloom (2009)
Forthcoming: Journal of Applied Econometrics 14.8.2020
Ambrocio, Gene;
Hasan, Iftekhar;
Jokivuolle, Esa;
Ristolainen, Kim
Are bank capital requirements optimally set? Evidence from researchers’ views
Published: Journal of Financial Stability 22.7.2020
Are bank capital requirements optimally set? Evidence from researchers’ views
Published: Journal of Financial Stability 22.7.2020
Arias, Jonas E.;
Ascari, Guido;
Branzoli, Nicola;
Castelnuovo, Efrem
Positive Trend Inflation and Determinacy in a Medium-Sized New Keynesian Model
Published: International Journal of Central Banking 15.6.2020
Positive Trend Inflation and Determinacy in a Medium-Sized New Keynesian Model
Published: International Journal of Central Banking 15.6.2020
Gaganis, Chrysovalantis;
Hasan, Iftekhar;
Pasiouras, Fotios
Cross-country evidence on the relationship between regulations and the development of the life insurance sector
Published: Economic Modelling 10.6.2020
Cross-country evidence on the relationship between regulations and the development of the life insurance sector
Published: Economic Modelling 10.6.2020
Tölö, Eero
Predicting systemic financial crises with recurrent neural networks
Published: Journal of Financial Stability 31.5.2020
Predicting systemic financial crises with recurrent neural networks
Published: Journal of Financial Stability 31.5.2020
Delis, Manthos D.;
Hasan, Iftekhar;
Ongena, Steven
Democracy and credit
Published: Journal of Financial Economics 15.4.2020
Democracy and credit
Published: Journal of Financial Economics 15.4.2020
Hasan, lftekhar;
Hoi, Chun-Keung(Stan);
Wu, Qiang;
Zhang, Hao;
Hasan, Iftekhar
Is social capital associated with corporate innovation? Evidence from publicly listed firms in the U.S
Published: Journal of Corporate Finance 8.4.2020
Is social capital associated with corporate innovation? Evidence from publicly listed firms in the U.S
Published: Journal of Corporate Finance 8.4.2020
Hasan, Iftekhar;
Minnick, Kristina;
Raman, Kartik
Credit allocation when borrowers are economically linked: An empirical analysis of bank loans to corporate customers
Published: Journal of Corporate Finance 7.4.2020
Credit allocation when borrowers are economically linked: An empirical analysis of bank loans to corporate customers
Published: Journal of Corporate Finance 7.4.2020
Juselius, Mikael;
Drehmann, Mathias
Leverage dynamics and the burden of debt
Published: Oxford Bulletin of Economics and Statistics 1.4.2020
Leverage dynamics and the burden of debt
Published: Oxford Bulletin of Economics and Statistics 1.4.2020
Refereed publications
Discussion Papers
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.