Research publication

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

2025

Ambrocio, Gene
Inflationary Household Uncertainty Shocks
Online First: Journal of Money, Credit and Banking | 7.6.2025

Fungáčová, Zuzana; Kerola, Eeva; Laine, Olli-Matti
Monetary Policy Below Zero: An Empirical Investigation of the Reversal Rate
Forthcoming: International Journal of Central Banking | 19.3.2025

Kwan, Simon; Ulate, Mauricio; Voutilainen, Ville
The transmission of negative nominal interest rates in Finland
Online First: Journal of the European Economic Association | 30.1.2025

2024

Granziera, Eleonora; Jalasjoki, Pirkka; Paloviita, Maritta
The Bias of the ECB Inflation Projections: a State Dependent Analysis
Online First: Journal of Forecasting | 21.11.2024

Heikkinen, Joni; Heimonen, Kari
Media tone : the role of news and social media on heterogeneous inflation expectations
Published: Journal of Forecasting | 20.11.2024

Carli, Francesco; Uras, Burak R.
E-money, risk-sharing, and welfare
Published: European Economic Review | 1.10.2024

Nissinen, Juuso; Sihvonen, Markus
Bond Convenience Curves and Funding Costs
Published: Journal of International Economics | 19.7.2024

Moreno, Diego; Takalo, Tuomas
Precision of Public Information Disclosures, Banks' Stability and Welfare
Online First: Journal of Money, Credit and Banking | 19.7.2024

Martins, Manuel M. F. ; Verona, Fabio
Forecasting inflation with the new Keynesian Phillips curve: frequencies matter
Published: Oxford Bulletin of Economics and Statistics | 1.7.2024

Sihvonen, Markus
Yield Curve Momentum
Published: Review of Finance | 15.5.2024

Haavio, Markus; Ripatti, Antti; Takalo, Tuomas
Public Funding of Banks and Firms in a Time of Crisis
Forthcoming: International Journal of Central Banking | 23.4.2024

Moreno, Diego; Takalo, Tuomas
Stress Test Precision and Bank Competition
Published: Economics Letters | 9.4.2024

Stanisławska, Ewa; Paloviita, Maritta
Heterogeneous responsiveness of consumers’ medium-term inflation expectations
Online First: Economics Letters | 5.3.2024

Eo, Yunjong; McClung, Nigel
Determinacy and E-stability with interest rate rules at the zero lower bound
Published: Journal of Money, Credit and Banking | 21.1.2024

2023

Gibbs, Christopher G. ; McClung, Nigel
Does my model predict a forward guidance puzzle?
Published: Review of Economic Dynamics | 15.12.2023

Laine, Olli-Matti; Pihlajamaa, Matias
Pushing and pulling on a string? Inflationary effects of expansionary and contractionary monetary policies when rates are negative
Published: Economic Modelling | 9.12.2023

Granziera, Eleonora; Sihvonen, Markus
Bonds, Currencies and Expectational Errors
Published: Journal of Economic Dynamics and Control | 20.11.2023

Ascari, Guido; Mavroeidis, Sophocles; McClung, Nigel
Coherence without Rationality at the zero lower bound
Published: Journal of Economic Theory | 31.10.2023

Fungáčová, Zuzana; Schoors, Koen ; Solanko, Laura; Weill, Laurent
Staying on top: Political cycles in private bank lending
Published: Journal of Comparative Economics | 31.8.2023

Martins, Manuel M.F.; Verona, Fabio
Inflation dynamics in the frequency domain
Published: Economics Letters | 10.8.2023

Laine, Olli-Matti
Monetary policy transmission to firms’ investments — It may depend on the tool
Published: Economics Letters | 15.6.2023

Ambrocio, Gene; Hasan, Iftekhar
Political ties and the yield curve
Published: Economics Letters | 19.5.2023

Fungáčová, Zuzana; Karas, Alexei; Solanko, Laura; Weill, Laurent
The Politics of Bank Failures in Russia
Published: Post-Soviet Affairs | 19.5.2023

Sihvonen, Markus
Equity Home Bias in a Capital Market Union
Published: IMF Economic Review | 1.3.2023

Laine, Olli-Matti
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

2022

Nurmi, Satu; Vanhala, Juuso; Virén, Matti
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

Fungáčová, Zuzana; Kerola, Eeva; Weill, Laurent
Does Bank Efficiency Affect the Bank Lending Channel in China?
Published: 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

Martinez, Joseba ; Philippon, Thomas; Sihvonen, Markus
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

Kilponen, Juha; Verona, Fabio
Investment dynamics and forecast: Mind the frequency
Published: Finance Research Letters | 28.6.2022