Browsing by Subject "yksityinen sektori"

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  • Chowdhury, Abdur R. (2003)
    BOFIT Discussion Papers 3/2003
    Published in Comparative Economic Studies vol. 46 no. 4 (2004), pp. 487-514 as "Private Savings in Transition Economies: Are there Terms of Trade Shocks"
    This paper examines whether terms of trade shocks have an asymmetric effect on private savings in transition economies.A simple three-period framework is developed to show that, in the presence of binding credit constraints in bad states of nature, savings rates can be sensitive to favorable movements in the permanent component of the terms of trade.This result contrasts with the prediction of the conventional consumption-smoothing model.Empirical analysis with a dynamic panel model further confirms that while favorable movements in the permanent component of the terms of trade have an asymmetric effect on private savings, the magnitude of the effect is relatively small.The results are robust for alternative estimators, determinants, and country groupings.JEL classification: F10, E21, P33 Key words: transition, private savings, terms of trade
  • Ikonen, Pasi (2017)
    Euro & talous. Analyysi
    Julkisen velan vaikutus kasvuun on ollut vilkkaan taloustieteellisen tutkimuksen kohteena, kun julkinen velka on kasvanut voimakkaasti finanssikriisin myötä monissa kehittyneissä maissa. Julkisen velan kasvua hidastava vaikutus sinänsä on Suomessa todennäköisesti ollut ainakin viime vuosina pieni. Vaikka julkisen velan suhde on ollut kasvussa, pienet julkiset korkomenot ovat suojanneet taloutta epäsuotuisilta vaikutuksilta. Matalat korot ovat rajoittaneet myös yksityisen sektorin kasvaneen velan hoitotaakkaa.
  • Honkapohja, Seppo; Mitra, Kaushik (2002)
    Suomen Pankin keskustelualoitteita; Bank of Finland. Discussion papers 3/2002
    Recent models of monetary policy have analysed the desirability of different optimal and ad hoc interest-rate rules under the restrictive assumption that forecasts of the private sector and central bank are homogeneous.In this paper, we study from a learning perspective the implications of heterogeneity across forecasts by the central bank and private agents for the performance of interest-rate rules.Key words: adaptive learning, stability, heterogeneity, monetary policy JEL classification numbers: E52, E31, D84
  • Winiecki, Jan (2001)
    BOFIT Discussion Papers 12/2001
    Published in Problems of Economic Transition vol 45, no 11 (2003), pp. 6-38
    The central theme of this paper is the role of the new, entrepreneurial private sector, established after the fall of communism, in output recovery, and, more generally, in economic expansion of post-communist economies.This role is considered specifically in the context of the successes in Poland, the Czech Republic, and Hungary.The author notes a substantial difference between the performance of the new private sector and the privatized sector in the short to medium run (3-7 years) from the start of privatization.New private firms typically enter the economic game with well-established de jure and de facto property rights and with industrial relations based on market economy rules. Unlike the public sector or privatized firms, the labor force of these firms is not demoralized by the change to market-economy rules.As a result, they often perform better and are quick to increasing their share of aggregate output.This also helps the economy as a whole emerge earlier from transitional recession.The author discusses two hypothetical paths of recovery and expansion; one with and one without a dynamic new private sector.The determinants for establishing and growth of new private firms are considered.In addition to the specific rules and general framework of transition, the study concludes that broad institutional fundamentals of political liberty, law and order, and trust contribute to the successful emergence of this new entrepreneurial sector.Key words: new private sector, transition, growth, Poland