The Aino 2.0 Model

98 Pages Posted: 14 Jun 2016 Last revised: 22 Apr 2020

See all articles by Juha Kilponen

Juha Kilponen

Bank of Finland - Research

Seppo Orjasniemi

Bank of Finland, Monetary Policy and Research Department

Antti Ripatti

University of Helsinki; Bank of Finland

Fabio Verona

Bank of Finland - Research

Date Written: May 31, 2016

Abstract

This paper presents Aino 2.0 – the dynamic stochastic general equilibrium (DSGE) model currently used at the Bank of Finland for forecasting and policy analysis. The paper provides a detailed theoretical description of the model, its estimation and how it can be used to interpret the evolution of the Finnish economy between 1995 and 2014, including the rise and fall of the electronics industry, the global financial crisis, and the stagnant growth performance since the end of the financial crisis.

JEL Classification: C11, C53, E32, E37

Suggested Citation

Kilponen, Juha and Orjasniemi, Seppo and Ripatti, Antti and Verona, Fabio, The Aino 2.0 Model (May 31, 2016). Bank of Finland Research Discussion Paper No. 16/2016, Available at SSRN: https://ssrn.com/abstract=2795479

Juha Kilponen (Contact Author)

Bank of Finland - Research ( email )

P.O. Box 160
FIN-00101 Helsinki
Finland
+358 10 831 2847 (Phone)
+358 10 831 2294 (Fax)

HOME PAGE: http://www.bof.fi/en/suomen_pankki/organisaatio/asiantuntijoita/kilponen_juha/

Seppo Orjasniemi

Bank of Finland, Monetary Policy and Research Department ( email )

PO Box 160
00101 Helsinki
Finland

Antti Ripatti

University of Helsinki ( email )

P.O. Box 17
Helsinki, 00014
Finland
+358505203679 (Phone)

HOME PAGE: http://www.ripatti.net

Bank of Finland ( email )

Box 160
Helsinki, 00101
Finland

Fabio Verona

Bank of Finland - Research ( email )

P.O. Box 160
FIN-00101 Helsinki
Finland

HOME PAGE: http://bofcris.solenovo.fi/crisyp/disp/_/en/cr_redir_all/fet/fet/sea?direction=3&id=3827426

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