Demographic Aging and the New Keynesian Phillips Curve
In: Bank of Finland Research Discussion Paper No. 16/2023
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In: Bank of Finland Research Discussion Paper No. 16/2023
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In: Bank of Finland Research Discussion Paper No. 5/2022
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In: Bank of Finland Research Discussion Paper No. 4/2021
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In: Bank of Finland Research Discussion Paper No. 5/2020
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Working paper
I provide a measure of household uncertainty available for European Union (EU) countries. The measure draws from the same consumer survey data used to construct widely-used consumer sentiment indices. I find that increases in household uncertainty are followed by declines in consumer sentiment and household financial conditions. Using Euro Area-wide indices, I also find that the effects of increases in household uncertainty differ from increases in uncertainty from other sources such as financial markets and economic policy. Notably, household uncertainty shocks are inflationary. These results challenge the notion that (household) uncertainty shocks act like negative demand shocks.
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In: Bank of Finland Research Discussion Paper No. 37/2017
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In: Bank of Finland Research Discussion Paper No. 10/2022
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In: Journal of international economics, Band 133, S. 103523
ISSN: 0022-1996
In: Bank of Finland Research Discussion Paper No. 13/2019
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Do closer political ties with a global superpower improve sovereign borrowing conditions? We use data on voting at the United Nations General Assembly along with foreign aid flows to construct an index of political ties and find evidence that suggests closer political ties leads to both better sovereign credit ratings and lower yields on sovereign bonds. We use heads-of-state official visits and coalition forces troop contributions as exogenous instruments to further strengthen the findings.
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In: Bank of Finland Research Discussion Paper No. 17/2018
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In: Bank of Finland Research Discussion Paper No. 10/2017
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In: Finance Research Letters, Forthcoming
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