Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/211576
Authors: 
Tarkka, Juha
Willman, Alpo
Year of Publication: 
1990
Series/Report no.: 
Bank of Finland Discussion Papers 1/1990
Abstract: 
This paper describes the modelling of financial markets and the balance of payments in BOF4, a quarterly macroeconomic model developed by the Bank of Finland. The short-term interest rate is determined as a result of the interaction of the demand for money and money supply, as in the conventional IS-LM approach. Alternatively, the model may be solved under the assumption that monetary policy is based on pegging interest rates. In that case, the domestic credit of the Central Bank is the equilibrating variable.
Persistent Identifier of the first edition: 
ISBN: 
951-686-234-9
Document Type: 
Working Paper

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