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

32

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114

Scholarly Papers (32)

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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 1,287 (33,709)
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 1,026 (46,754)
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, Oskari Vähämaa and Oskari Vähämaa
Bank of Finland, Research Unit, Bank of Finland and University of TurkuBank of Finland - Research
Downloads 1,000 (48,502)
Citation 9

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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 915 (50,563)
Citation 2

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 915 (53,958)
Citation 2

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

5.

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 843 (61,374)
Citation 13

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credit risk, collateral, recovery rates, options theory

6.

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 786 (67,362)
Citation 4

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capital adequacy requirements, credit risk, banking stability

7.

Informed Trading, Short Sales Constraints, and Futures' Pricing

Downloads 716 (76,136)

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 668 (81,934)

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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: 1 Posted: 17 Aug 2017 Last Revised: 18 Nov 2021
Pekka Hietala, Esa Jokivuolle and Yrjo Koskinen
INSEAD - Finance, Bank of Finland, Research Unit and Haskayne School of Business, University of Calgary
Downloads 48 (845,580)

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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 543 (108,075)
Citation 2

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DSGE models, financial stability, loan losses, stress testing

9.

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 471 (128,436)
Citation 4

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

10.

Bonus Caps, Deferrals and Bankers' Risk-Taking

Bank of Finland Research Discussion Paper No. 5/2015
Number of pages: 75 Posted: 02 Mar 2016 Last Revised: 18 Jun 2022
Esa Jokivuolle, Jussi Keppo and Xuchuan Yuan
Bank of Finland, Research Unit, National University of Singapore (NUS) - NUS Business School and affiliation not provided to SSRN
Downloads 390 (160,074)
Citation 1

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

11.

Misconduct in Organizations

Number of pages: 40 Posted: 27 Jan 2020 Last Revised: 25 Sep 2022
Minglong Zhou, Jussi Keppo and Esa Jokivuolle
Fudan University - School of Management, National University of Singapore (NUS) - NUS Business School and Bank of Finland, Research Unit
Downloads 370 (169,746)

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12.

Bonus Caps, Deferrals and Bankers' Risk-Taking

Bank of Finland Research Discussion Paper No. 5/2015
Number of pages: 75 Posted: 01 Oct 2019
Esa Jokivuolle, Jussi Keppo and Xuchuan Yuan
Bank of Finland, Research Unit, National University of Singapore (NUS) - NUS Business School and affiliation not provided to SSRN
Downloads 329 (192,929)

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

13.

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 288 (222,237)
Citation 10

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

14.

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 250 (256,609)
Citation 6

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

15.

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 199 (319,285)
Citation 1

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

16.

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 170 (368,012)
Citation 6

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cross-listing, Autoregressive Conditional Duration, market

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: 18 Nov 2021
Gene Ambrocio and Esa Jokivuolle
Bank of Finland and Bank of Finland, Research Unit
Downloads 142 (427,690)

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

18.

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 137 (439,936)
Citation 10

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

19.

What Drives Loan Losses in Europe?

Downloads 116 (500,918)
Citation 2

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 78 (658,893)
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 Last Revised: 18 Nov 2021
Esa Jokivuolle, Jarmo Pesola and Matti Virén
Bank of Finland, Research Unit, Bank of Finland - Research and Bank of Finland
Downloads 38 (933,745)

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20.

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 107 (531,771)
Citation 3

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

21.

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: 18 Nov 2021
Esa Jokivuolle, Radu Tunaru and Davide Vioto
Bank of Finland, Research Unit, University of Sussex and European Banking Authority (EBA)
Downloads 99 (562,049)
Citation 1

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

22.

Are Bank Capital Requirements Optimally Set? Evidence from Researchers’ Views

Bank of Finland Research Discussion Paper No. 10/2020
Number of pages: 42 Posted: 09 Jun 2020
Gene Ambrocio, Iftekhar Hasan, Esa Jokivuolle and Kim Ristolainen
Bank of Finland, Fordham University, Bank of Finland, Research Unit and University of Turku
Downloads 98 (565,833)

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Bank regulation, capital requirements, expert survey

23.

What Should the Inflation Target Be? Views from 600 Economists

Downloads 97 (569,638)
Citation 2

What Should the Inflation Target Be? Views from 600 Economists

Bank of Finland Research Discussion Paper No. 7/2022
Number of pages: 50 Posted: 10 May 2022 Last Revised: 12 May 2022
Gene Ambrocio, Andrea Ferrero, Esa Jokivuolle and Kim Ristolainen
Bank of Finland, University of Oxford - Department of Economics, Bank of Finland, Research Unit and University of Turku
Downloads 93 (591,453)
Citation 2

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expert survey, inflation target, monetary policy

What Should the Inflation Target Be? Views from 600 Economists

CEPR Discussion Paper No. DP17289
Number of pages: 50 Posted: 27 May 2022
Gene Ambrocio, Andrea Ferrero, Esa Jokivuolle and Kim Ristolainen
Bank of Finland, University of Oxford - Department of Economics, Bank of Finland, Research Unit and University of Turku
Downloads 4 (1,337,082)
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expert survey, inflation target, monetary policy

24.

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 88 (605,316)
Citation 9

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

25.

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 87 (609,558)

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

26.

Does Market's Assessment of Systemically Important Banks Differ from Regulators' Rankings?

Number of pages: 49 Posted: 06 May 2021
Davide Vioto, Radu Tunaru and Esa Jokivuolle
European Banking Authority (EBA), University of Sussex and Bank of Finland, Research Unit
Downloads 76 (658,764)

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Systemic risk measure, Systemic risk ranking validation, Dominance test, Estimation Uncertainty, Concordance measure.

27.

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 76 (658,764)
Citation 9

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capital requirements, IRBA, Basel II, financial crisis

28.

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 73 (673,412)
Citation 10

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

29.

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 Last Revised: 14 Sep 2021
Eero Tölö, Esa Jokivuolle and Matti Viren
Bank of Finland - Financial Markets, Bank of Finland, Research Unit and Bank of Finland - Research
Downloads 72 (678,469)

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overnight rates, too-big-to-fail, implicit government guarantee, borrowing costs

30.

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 57 (763,711)

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

31.

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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32.

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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