The BOF5 macroeconomic model of Finland : Structure and equations (original) (raw)
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* This paper is part of my doctoral thesis concerning the functioning of modern financial markets and the investment behaviour of households in Finland. All the empirical results and the RATS code for the estimations are available upon request. I wish to thank first of all David Montgomery from the University of Hawaii at Manoa for generously providing me the core of the RATS codes both for the deterministic and stochastic parts of the Tsay procedure. These and many other useful codes (under construction) for RATS users are now available form the Internet address http://www2.hawaii.edu/\~dmontgom/. In addition, I wish to thank professor Tsay for giving me the hint to DavidÕs work. Also Tom Maycock from ESTIMA has provided some useful suggestions to modify some other codes used in this work. Even though the usual disclaimer applies, I also express my warmest thanks to professors Markku Rahiala, Pekka Ilmakunnas, Antti Kanto and Rauli Svento and the participants of the workshops at the University of Oulu and FPPE (Capital Markets and Financial Economics) for constructive comments on an earlier draft of this paper. The help from Mikko Spolander and Kari Takala (Bank of Finland) with the data and the financial support from the FPPE, the Yrjš Jahnsson foundation and OsuuspankkiryhmŠn tutkimusssŠŠtiš is also gratefully acknowledged. Juha Junttila; Adaptive inflation expectations under structural changes: The case of Finland.
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