Descriptive Analysis of Finnish Equity, Bond and Money Market Returns

63 Pages Posted: 9 Jun 2011

See all articles by Peter M. Nyberg

Peter M. Nyberg

Aalto University

Mika Vaihekoski

University of Turku - Turku School of Economics

Date Written: May 26, 2011

Abstract

This paper gathers the longest available historical monthly return series for the Finnish equity, bond and money markets as well as inflation. The series are analysed to calculate the statistical characteristics of the returns investors would have received in these markets. We also survey existing literature concerning the history of these markets and review the main developments to facilitate future research on the long-term development of the Finnish markets. Using a new total return stock market index for Finland in an approach similar to Mehra and Prescott (2003), we find the equity premium for Finland to be 10.14 per cent from 1913 to 2009.​

Keywords: equity market, bond market, money market, risk premium, Finland

JEL Classification: G10, G11, N24

Suggested Citation

Nyberg, Peter Mikael and Vaihekoski, Mika, Descriptive Analysis of Finnish Equity, Bond and Money Market Returns (May 26, 2011). Bank of Finland Research Discussion Paper No. 14/2011, Available at SSRN: https://ssrn.com/abstract=1861051 or http://dx.doi.org/10.2139/ssrn.1861051

Peter Mikael Nyberg

Aalto University ( email )

P.O. Box 21210
Helsinki, 00101
Finland

Mika Vaihekoski (Contact Author)

University of Turku - Turku School of Economics ( email )

Turku, 20014
Finland

HOME PAGE: http://users.utu.fi/moovai/

Here is the Coronavirus
related research on SSRN

Paper statistics

Downloads
78
Abstract Views
802
rank
340,436
PlumX Metrics