Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/211610 
Year of Publication: 
1991
Series/Report no.: 
Bank of Finland Discussion Papers No. 7/1991
Publisher: 
Bank of Finland, Helsinki
Abstract: 
This study examines, using variable-parameter regression, how the offset coefficient in the capital flow equation for Finland has changed over time. We found the constant parameter estimate of the offset coefficient to be stable and quite large. Instead, the interest rate sensitivity has increased due to the liberalization, i.e. international capital flows have become very sensitive to the interest rate differential. We also examined how international capital flows are affected by exchange rate speculations.
Persistent Identifier of the first edition: 
ISBN: 
951-686-283-7
Document Type: 
Working Paper

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