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Endogenous Real Risk-Free Rate, the Central Bank, and Stock Market
(Tampereen yliopisto, 2017)
- workingPaper
The central bank acts as a social planner, and adjusts the real risk-free rate of return to correct any mispricing in the stock market so that the emergence of positive or negative bubbles is avoided. The flip side is that ...
Adaptation and Loss Aversion in the Relationship between GDP and Subjective Well-being
(Tampereen yliopisto, 2017)
- workingPaper
We examine the roles of adaptation and loss aversion in the relationship between national income and subjective well-being. Earlier studies have found that people and nations tend to adapt to changes in income, and that ...
Does Corruption Affect Total Factor Productivity? An Empirical Analysis
(Tampereen yliopisto, 2017)
- workingPaper
The negative role of corruption in the economies is strongly claimed in economic research. The fact that it undermines economic growth is beyond doubt. Still mixed evidences persist about how corruption reaches growth. ...
Path development and constructed regional resilience : The case of the Nokia-led ICT industry in Tampere
(Tampereen yliopisto, 2017)
- workingPaper
THE DEVELOPMENT OF WAGE DISPERSION AND WAGE RIGIDITY IN FINLAND
(Tampereen yliopisto, 2017)
- workingPaper
Energy Union, renewable energy and the ’Winter Package’
(EL-TRAN konsortio, 2017)
- report
Stock Market Dynamics and the Central Bank in a General Equilibrium Model
(Tampereen yliopisto, 2017)
- workingPaper
We introduce a general equilibrium model with potentially inefficient stock markets
consisting of asymmetrically informed investors. Prices are sticky in the goods market,
but the labor market adjusts perfectly. The ...
Implications for Aggregate Inflation of Sectoral Asymmetries : Generalizing Woodford
(Tampereen yliopisto, 2017)
- workingPaper
This paper develops and simulates a simple two sector DSGE model for
studying aggregate inflation and output dynamics under sectoral
adjustment asymmetries. The CES aggregate consumption bundle consists
of two ...