Now showing items 1-20 of 160

    • How Do Households Finance Real Estate Purchases? 

      Solheim, Haakon; Vatne, Bjørn Helge (Economic Commentaries;2/2018, Others, 2018)
      Norwegian households' high debt levels have long been cited as a financial stability risk (see e.g. Norges Bank's Financial Stability Report). Household borrowing is closely associated with the financing of home purchases, ...
    • Hvordan finansierer husholdningene kjøp av fast eiendom? 

      Solheim, Haakon; Vatne, Bjørn Helge (Aktuell kommentar;2/2018, Others, 2018)
      Høy gjeld i norske husholdninger har lenge vært trukket fram som et risikoelement for finansiell stabilitet, blant annet i Norges Banks rapporter Finansiell stabilitet. Gjeldsopptak i husholdningene er nært knyttet til ...
    • Regulering av boliglån – effekter på kreditt og boligpriser 

      Lindquist, Kjersti-Gro; Riiser, Magdalena D. (Aktuell kommentar;3/2018, Others, 2018)
      Internasjonale analyser finner at reguleringstiltak rettet mot boliglån kan bidra til å dempe veksten i boligpriser og kreditt, men resultatene spriker noe med hensyn på hvilke tiltak som virker og hvor effektive de er. ...
    • KPIXE, en ny indikator for underliggende inflasjon 

      Nordbø, Einar W. (Aktuell Kommentar;3/2008, Others, 2008)
      Det operative målet for pengepolitikken er en årsvekst i konsumprisene som over tid er nær 2,5 prosent. Det tas i utgangspunktet ikke hensyn til direkte effekter som skyldes endringer i rentenivået, skatter, avgifter og ...
    • CPIXE, a New Indicator of Underlying Inflation 

      Nordbø, Einar W. (Economic Commentaries;3/2008, Others, 2008)
      The operational target of monetary policy is annual consumer price inflation of approximately 2.5 per cent over time. In general, the direct effects on consumer prices resulting from changes in interest rates, taxes, excise ...
    • Analyses of Effects of the Residential Mortgage Loan Regulation 

      Borchgrevink, Henrik; Torstensen, Kjersti Næss (Economic Commentaries;1/2018, Others, 2018)
      This article analyses the effects of the regulation on residential mortgage loans issued in 2017. The analyses are preliminary as tax data for 2017 are not yet available. Residential mortgage loan requirements were laid ...
    • Hva er nivået på den normale renten? 

      Bernhardsen, Tom; Kloster, Arne (Aktuell Kommentar;1/2010, Others, 2010)
      Det normale nivået på realrenten i Norge anslås å ligge i intervallet 2-3 prosent. Med et inflasjonsmål på 2,5 prosent er intervallet for den normale nominelle renten 4½-5½ prosent (tremåneders pengemarkedsrente). Dette ...
    • Norwegian Krone No Safe Haven 

      Flatner, Alexander (Economic Commentaries;3/2009, Others, 2009)
      This Commentary examines the various currencies to identify those that seem to have been safe haven currencies since the start of the financial turmoil in summer 2007.
    • Effects of Higher Oil Prices on the Norwegian Economy 

      Solheim, Haakon (Economic Commentaries;2/2008, Others, 2008)
      Oil prices have risen markedly in recent years. An oil price increase affects the Norwegian economy through various different channels. Some sectors will experience increased demand, while others will be affected mainly ...
    • Emerging Market Economies – an Ever More Important Driver for the Global Economy 

      Jebsen, Sofie; Larsen, Unni; Støholen, Bente (Economic Commentaries;8/2009, Others, 2009)
      Growth has picked up again in the emerging market economies (EMEs) of Asia, and especially in China and India. Higher imports in these countries will contribute to higher GDP growth in the rest of the world, partly through ...
    • KPIM : en modellbasert indikator for underliggende inflasjon 

      Hov, Marius Nyborg (Aktuell Kommentar;5/2010, Others, 2010)
      KPIM er en ny indikator for underliggende inflasjon, se Pengepolitisk rapport 3/10. Indikatoren er basert på prediksjonsevnen til delindeksene i KPI, og skiller seg dermed noe ut i forhold til andre indikatorer som Norges ...
    • Public Finances – the Difficult Path Back to Sustainable Levels 

      Larsen, Unni; Støholen, Bente (Economic Commentaries;2/2010, Others, 2010)
      In order to curb falling output and employment resulting from the financial crisis, extensive monetary and fiscal measures were put in place by authorities the world over. Many governments also recapitalised banks to ...
    • Fremvoksende økonomier – en stadig større drivkraft for verdensøkonomien 

      Jebsen, Sofie; Larsen, Unni; Støholen, Bente (Aktuell Kommentar;8/2009, Others, 2009)
      Veksten har på nytt kommet i gang i de fremvoksende økonomiene i Asia, og da spesielt i Kina og India. Økt import i disse landene vil bidra til høyere BNP-vekst i resten av verden, blant annet gjennom forbedret handelsbalanse ...
    • What Is the Normal Interest Rate Level? 

      Bernhardsen, Tom; Kloster, Arne (Economic Commentaries;1/2010, Others, 2010)
      The normal real interest rate level in Norway is estimated to be in the interval of 2-3 per cent. With an inflation target of 2.5 per cent, the interval for the normal nominal interest rate is 4½-5½ per cent (three-month ...
    • The Norwegian Market for Government Securities and Covered Bonds in View of New Liquidity Buffer Requirements for Banks 

      Syed, Haseeb (Economic Commentaries;7/2010, Others, 2010)
      In this commentary we look more closely at Norwegian banks’ investment alternatives for meeting proposed new international liquidity buffer requirements. The Basel Committee’s final recommendations for liquidity standards ...
    • Har boligbyggingen vært for høy de siste årene? 

      Skjæveland, Marita (Aktuell Kommentar;5/2008, Others, 2008)
      De siste årene har det vært en markert økning i boligbyggingen. Samtidig har befolkningsveksten også vært høy. Nedenfor ser vi nærmere på nybyggingen sammenlignet med etterspørselen etter nye boliger gitt den demografiske ...
    • Oppgangen i oljeprisen – fundamentale og finansielle faktorer 

      Akram, Q. Farooq; Winje, Pål (Aktuell Kommentar;1/2008, Others, 2008)
      Oljeprisen har steget mye de senere årene. Prisen er nå rekordhøy også i reelle termer, [...]. Fundamentale forhold, som etterspørsel og tilbud av olje, er viktige forklaringsfaktorer bak prisoppgangen. Finansielle forhold, ...
    • What Determines Developments in Us Long-Term Interest Rates over Time? 

      Hellum, Erlend (Economic Commentaries;3/2010, Others, 2010)
      This report analyses developments in long-term interest rates in the US. We estimate a model where developments in US long-term interest rates are decided by short-term interest rates, long-term inflation expectations, the ...
    • CPI-FW : A Frequency Weighted Indicator of Underlying Inflation 

      Simensen, Agnes Marie; Wulfsberg, Fredrik (Economic Commentaries;7/2009, Others, 2009)
      The monthly change in the CPI varies considerably, and the change from one month to the next often provides little indication about the future direction of inflation. In order to be able to form a picture of how much of ...
    • Relationship Between Key Rates and Money Market Rates 

      Bache, Ida Wolden; Bernhardsen, Tom (Economic Commentaries;2/2009, Others, 2009)
      In this note we argue that the pass-through from key policy rates to money market rates has been high in Norway and other countries and remained high during the financial crisis.