Esa Jokivuolle

Bank of Finland, Research Unit

Head of Research

P.O. Box 160

FIN-00101 Helsinki

Finland

http://www.bof.fi/en/suomen_pankki/organisaatio/asiantuntijoita/jokivuolle_esa/

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SCHOLARLY PAPERS

28

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Scholarly Papers (28)

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1.

Leverage Ratio Requirement and Credit Allocation Under Basel III

Number of pages: 28 Posted: 12 Dec 2010 Last Revised: 16 Dec 2010
Ilkka Kiema and Esa Jokivuolle
University of Helsinki and Bank of Finland, Research Unit
Downloads 1,150 (17,565)
Citation 2

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Bank regulation, Basel III, capital requirements, credit risk, leverage ratio requirement

2.

A Value-at-Risk Approach to Banks' Capital Buffers: An Application to the New Basel Accord

Bank of Finland Discussion Paper No. 15/2001
Number of pages: 26 Posted: 29 Nov 2001
Esa Jokivuolle and Samu Peura
Bank of Finland, Research Unit and Sampo Bank
Downloads 965 (22,767)
Citation 8

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new Basel Capital Accord, credit risk, internal ratings, value-at-risk

3.

Macro-Model-Based Stress Testing of Basel II Capital Requirements

Bank of Finland Research Discussion Paper No. 17/2008
Number of pages: 30 Posted: 16 Sep 2008
Esa Jokivuolle, Kimmo Virolainen and Oskari Vähämaa
Bank of Finland, Research Unit, Bank of Finland and University of Turku
Downloads 885 (25,829)
Citation 7

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Basel II, capital requirements, credit risk, loan losses, stress tests

4.

Simulation Based Stress Testing of Banks' Regulatory Capital Adequacy

Downloads 761 ( 30,917)
Citation 27

Simulation Based Stress Testing of Banks' Regulatory Capital Adequacy

Journal of Banking & Finance, Vol. 28, pp. 1801-1824, 2004, Bank of Finland Research Discussion Paper No. 4/2003
Number of pages: 44 Posted: 09 Oct 2003
Samu Peura and Esa Jokivuolle
Sampo Bank and Bank of Finland, Research Unit
Downloads 761 (31,365)
Citation 2

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Basel II, Pillar 2, bank capital, stress tests, procyclicality

5.

The New Basel Accord: Some Potential Implications of the New Standards for Credit Risk

Bank of Finland Working Paper No. 2/2001
Number of pages: 23 Posted: 22 Jul 2002
Esa Jokivuolle and Karlo Kauko
Bank of Finland, Research Unit and Bank of Finland
Downloads 741 (32,988)
Citation 4

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capital adequacy requirements, credit risk, banking stability

6.

Informed Trading, Short Sales Constraints, and Futures' Pricing

Downloads 628 ( 41,251)

Informed Trading, Short Sales Constraints, and Futures' Pricing

Bank of Finland Discussion Papers 4/2000
Number of pages: 32 Posted: 28 Mar 2000
Yrjo Koskinen, Pekka Hietala and Esa Jokivuolle
Haskayne School of Business, University of Calgary, INSEAD - Finance and Bank of Finland, Research Unit
Downloads 612 (42,100)

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Futures' markets, short sales constraints, asymmetric information

Informed Trading, Short Sales Constraints and Futures' Pricing

Bank of Finland Research Discussion Paper No. 4/2000
Number of pages: 32 Posted: 17 Aug 2017 Last Revised: 20 Jun 2018
Pekka Hietala, Esa Jokivuolle and Yrjo Koskinen
INSEAD - Finance, Bank of Finland, Research Unit and Haskayne School of Business, University of Calgary
Downloads 16 (565,833)

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7.

A Model for Estimating Recovery Rates and Collateral Haircuts for Bank Loans

Bank of Finland Research Discussion Paper No. 2/2000
Number of pages: 22 Posted: 14 Oct 2007
Esa Jokivuolle and Samu Peura
Bank of Finland, Research Unit and Sampo Bank
Downloads 615 (42,436)
Citation 12

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credit risk, collateral, recovery rates, options theory

8.

GDP at Risk in a DSGE Model: An Application to Banking Sector Stress Testing

Bank of Finland Research Discussion Paper No. 26/2007
Number of pages: 30 Posted: 19 Dec 2007 Last Revised: 01 Feb 2008
Esa Jokivuolle, Juha Kilponen and Tero Kuusi
Bank of Finland, Research Unit, Bank of Finland - Research and Bank of Finland - Research
Downloads 450 (63,111)
Citation 1

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DSGE models, financial stability, loan losses, stress testing

9.

Bonus Caps, Deferrals and Bankers' Risk-Taking

Bank of Finland Research Discussion Paper No. 5/2015
Number of pages: 70 Posted: 02 Mar 2016
Esa Jokivuolle, Jussi Keppo and Xuchuan Yuan
Bank of Finland, Research Unit, National University of Singapore - NUS Business School and Harbin Institute of Technology - School of Management
Downloads 304 (99,242)

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banking, bonuses, regulation, compensation, Dodd–Frank Act

10.

Portfolio Effects and Efficiency of Lending under Basel II

Bank of Finland Research Discussion Paper No. 13/2007
Number of pages: 26 Posted: 03 Oct 2007
Esa Jokivuolle and Timo Vesala
Bank of Finland, Research Unit and Tapiola Group
Downloads 229 (133,333)
Citation 9

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Basel II, bank regulation, capital requirements, credit risk, procyclicality

11.

Rating Targeting and the Confidence Levels Implicit in Bank Capital

Bank of Finland Research Discussion Paper No. 27/2006
Number of pages: 27 Posted: 01 Mar 2007
Esa Jokivuolle and Samu Peura
Bank of Finland, Research Unit and Sampo Bank
Downloads 221 (138,052)
Citation 4

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bank capital, credit rating, value-at-risk, economic capital

12.

Leverage Ratio Requirement, Credit Allocation and Bank Stability

Bank of Finland Research Discussion Paper No. 10/2011
Number of pages: 53 Posted: 21 May 2011
Ilkka Kiema and Esa Jokivuolle
University of Helsinki and Bank of Finland, Research Unit
Downloads 176 (170,448)
Citation 6

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bank regulation, Basel III, capital requirements, credit risk, leverage ratio

13.

Credit Allocation, Capital Requirements and Procyclicality

Bank of Finland Research Discussion Paper No. 23/2009
Number of pages: 43 Posted: 28 Nov 2009
Esa Jokivuolle, Ilkka Kiema and Timo Vesala
Bank of Finland, Research Unit, University of Helsinki and Tapiola Group
Downloads 148 (197,495)
Citation 1

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Basel II, bank regulation, capital requirements, credit risk, procyclicality

14.

Trading Nokia: The Roles of the Helsinki vs the New York Stock Exchanges

Bank of Finland Research Discussion Paper No. 26/2004
Number of pages: 27 Posted: 30 Aug 2005
Esa Jokivuolle and Markku Lanne
Bank of Finland, Research Unit and University of Jyväskylä - School of Business and Economics
Downloads 128 (221,877)
Citation 6

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cross-listing, Autoregressive Conditional Duration, market

15.

Does a Leverage Ratio Requirement Increase Bank Stability?

ECB Working Paper No. 1676
Number of pages: 52 Posted: 04 Jul 2014
Ilkka Kiema and Esa Jokivuolle
University of Helsinki and Bank of Finland, Research Unit
Downloads 87 (289,765)

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bank regulation, Basel III, capital requirements, credit risk, leverage ratio

16.

Transmission of Macro Shocks to Loan Losses in a Deep Crisis: The Case of Finland

Bank of Finland Research Discussion Paper No. 26/2009
Number of pages: 34 Posted: 28 Nov 2009
Esa Jokivuolle, Matti Viren and Oskari Vahamaa
Bank of Finland, Research Unit, Bank of Finland - Research and University of Turku
Downloads 73 (321,624)
Citation 2

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credit risk, bank loan losses, banking crisis, macro shocks, default rates, stress testing

17.

Should Bank Capital Requirements Be Less Risk-Sensitive Because of Credit Constraints?

Bank of Finland Research Discussion Paper No. 10/2017
Number of pages: 57 Posted: 16 May 2017 Last Revised: 02 May 2018
Gene Ambrocio and Esa Jokivuolle
Bank of Finland and Bank of Finland, Research Unit
Downloads 64 (345,095)

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bank regulation, capital requirements, risk weights, credit constraints, productivity

18.

Credit Allocation, Capital Requirements and Output

Bank of Finland Research Discussion Paper No. 17/2010
Number of pages: 38 Posted: 05 Feb 2011
Esa Jokivuolle, Ilkka Kiema and Timo Vesala
Bank of Finland, Research Unit, University of Helsinki and Tapiola Group
Downloads 53 (378,228)

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Bank Regulation, Basel III, Capital Requirements, Credit Risk, Crises, Procyclicality

19.

Why are Bank Runs Sometimes Partial?

Bank of Finland Research Discussion Paper No. 10/2015
Number of pages: 51 Posted: 17 Jun 2015
Ilkka Kiema and Esa Jokivuolle
University of Helsinki and Bank of Finland, Research Unit
Downloads 44 (409,144)
Citation 5

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Bank crises, Information induced bank runs, Deposit guarantee, Bank regulation

20.

What Drives Loan Losses in Europe?

Downloads 43 (412,854)
Citation 1

What Drives Loan Losses in Europe?

Journal of Financial Stability, Forthcoming, Bank of Finland Research Discussion Paper No. 6/2014
Number of pages: 30 Posted: 05 Feb 2014 Last Revised: 23 Mar 2015
Esa Jokivuolle, Jarmo Pesola and Matti Viren
Bank of Finland, Research Unit, Bank of Finland - Research and Bank of Finland - Research
Downloads 40 (433,129)
Citation 2

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loan losses, banking crises, indebtedness

What Drives Loan Losses in Europe?

Bank of Finland Research Discussion Paper No. 6/2014
Number of pages: 30 Posted: 16 Dec 2017
Esa Jokivuolle, Jarmo Pesola and Matti Virén
Bank of Finland, Research Unit, Bank of Finland - Research and Bank of Finland
Downloads 3 (658,962)

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21.

99.9% -Really?

Bank of Finland Research Discussion Paper No. 25/2013
Number of pages: 46 Posted: 10 Oct 2013
Ilkka Kiema and Esa Jokivuolle
University of Helsinki and Bank of Finland, Research Unit
Downloads 42 (416,609)
Citation 9

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capital requirements, IRBA, Basel II, financial crisis

22.

Are Too-Big-To-Fail Banks History in Europe? Evidence from Overnight Interbank Loans

Bank of Finland Research Discussion Paper No. 29/2015
Number of pages: 28 Posted: 16 Dec 2015
Eero Tölö, Esa Jokivuolle and Matti Viren
Bank of Finland - Financial Markets, Bank of Finland, Research Unit and Bank of Finland - Research
Downloads 41 (420,348)

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G21, G22, G24, G28, overnight rates, too-big-to-fail, implicit government guarantee, borrowing costs

23.

Testing the Systemic Risk Differences in Banks

Bank of Finland Research Discussion Paper No. 13/2018
Number of pages: 56 Posted: 02 Jun 2018 Last Revised: 03 Jun 2018
Esa Jokivuolle, Radu Tunaru and Davide Vioto
Bank of Finland, Research Unit, University of Kent - Kent Business School and University of Kent - Kent Business School
Downloads 32 (457,770)

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Systemic risk measures, Systemic risk ranking validation, Dominance tests, Confidence intervals, Financial stability, Concordance measures

24.

Do Private Signals of a Bank's Creditworthiness Predict the Bank's CDS Price? Evidence from the Eurosystem's Overnight Loan Rates

Bank of Finland Research Discussion Paper No. 9/2014
Number of pages: 49 Posted: 15 Mar 2014
Eero Tölö, Esa Jokivuolle and Matti Viren
Bank of Finland - Financial Markets, Bank of Finland, Research Unit and Bank of Finland - Research
Downloads 27 (482,345)
Citation 10

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overnight loans rates, credit default swap, TARGET2, Eurosystem, early-warning indicators

25.

Do Banks' Overnight Borrowing Rates Lead Their CDS Price? Evidence from the Eurosystem

ECB Working Paper No. 1809
Number of pages: 58 Posted: 23 Jun 2015
Eero Tölö, Esa Jokivuolle and Matti Viren
Bank of Finland - Financial Markets, Bank of Finland, Research Unit and Bank of Finland - Research
Downloads 24 (498,713)

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credit default swaps (CDS); early-warning indicators; Eurosystem; leadlag relationship; money markets; overnight borrowing rates; TARGET2

26.

Incorporating Collateral Value Uncertainty in Loss Given Default Estimates and Loan-to-Value Ratios

European Financial Management, Vol. 9, pp. 299-314, September 2003
Number of pages: 16 Posted: 12 Jul 2003
Esa Jokivuolle and Samu Peura
Bank of Finland, Research Unit and Sampo Bank
Downloads 23 (504,269)
Citation 2
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27.

Measuring True Stock Index Value in the Presence of Infrequent Trading

JOURNAL OF FINANCIAL AND QUANTITATIVE ANALYSIS, September 1995
Posted: 25 Aug 1998
Esa Jokivuolle
Bank of Finland, Research Unit

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28.

Pricing Options on an Index Containing Stale Prices: Theory and Evidence

Posted: 28 Jun 1998
Esa Jokivuolle
Bank of Finland, Research Unit

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