Financial factors and the macroeconomy

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dc.contributor Suomen Pankki, Tutkimusosasto
dc.contributor.author Sierimo, Carolina
dc.contributor.author Virén, Matti
dc.date.accessioned 2014-09-22T07:58:08Z
dc.date.available 2014-09-22T07:58:08Z
dc.date.issued 1995
dc.identifier.isbn 951-686-486-4
dc.identifier.issn 0785-3572
dc.identifier.issn 0785-3572
dc.identifier.uri https://helda.helsinki.fi/bof/handle/123456789/7517
dc.description.abstract This paper examines the relationships between financial and nonfinancial variables in three Nordic countries (Finland, Norway and Sweden).We try to find out whether there exists some kind of dichotomy between these two sets of variables, both in terms of levels of variables and the respective volatilities.In particular, we scrutinize the role of the stock market (stock prices and stock market turnover) in this respect.The analysis makes use of standard time series analytical tools, cointegration analysis, analysis of Granger causality and cross-spectral analysis.The results of these empirical analyses suggest that, although the behaviour of the financial variables has been quite similar, there are important differences between these three countries.Still, in all countries important relationships between these sets of variables are detected.However, in most cases causality seems to be bidirectional or instantaneous.
dc.format.extent 72 s.
dc.language.iso eng
dc.relation.ispartofseries Bank of Finland Research Discussion Papers
dc.rights https://helda.helsinki.fi/bof/copyright
dc.subject Suomi
dc.subject Norja
dc.subject Ruotsi
dc.subject pörssit
dc.subject korot
dc.subject volatiliteetti
dc.subject rahoitusmarkkinat
dc.subject SP
dc.subject riippuvuudet
dc.title Financial factors and the macroeconomy
dc.type Sarjajulkaisu
dc.identifier.urn URN:NBN:fi:bof-20140807301
dc.series.name Bank of Finland. Discussion papers
dc.series.year 1995
dc.series.number 34/1995
dc.series.sortingnumber 34
dc.date.publication 14.12.1995

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