• The interaction between macroprudential and monetary policies: The cases of Norway and Sweden 

    Cao, Jin; Dinger, Valeriya; Grodecka-Messi, Anna; Juelsrud, Ragnar; Zhang, Xin (Working Paper;8/2020, Working paper, 2020)
    To shed light on the interaction between macroprudential and monetary policies, we study the inward transmission of foreign monetary policy in conjunction with domestic macroprudential and monetary policies in Norway and ...
  • Norges Bank Output Gap Estimates: Forecasting Properties, Reliability and Cyclical Sensitivity 

    Furlanetto, Francesco; Hagelund, Kåre; Hansen, Frank; Robstad, Ørjan (Working Paper;7/2020, Working paper, 2020)
    This paper documents the suite of models used by Norges Bank to estimate the output gap. The models are estimated using data on GDP, unemployment, inflation, wages, investment, house prices and credit. We evaluate the ...
  • Mortgage regulation and financial vulnerability at the household level 

    Aastveit, Knut Are; Juelsrud, Ragnar Enger; Wold, Ella Getz (Working Paper;6/2020, Working paper, 2020)
    We evaluate the impact of mortgage regulation on credit volumes, household balance sheets and the reaction to adverse economic shocks. Using a comprehensive dataset of all housing transactions in Norway matched with buyers' ...
  • Expectations switching in a DSGE model of the UK 

    Borge, Anette; Bårdsen, Gunnar; Maih, Junior (Working Paper;4/2020, Working paper, 2020)
    Rational expectations (RE) has been dominant both in the economic literature and in the macromodels routinely used in central banks. The RE assumption has recently come under attack as one of the drawbacks of the Dynamic ...
  • Inflation expectations and the pass-through of oil prices 

    Aastveit, Knut Are; Bjørnland, Hilde C.; Cross, Jamie L. (Working Paper;5/2020, Working paper, 2020)
    Do inflation expectations and the associated pass-through of oil price shocks depend on demand and supply conditions underlying the global market for crude oil? We answer this question with a novel structural vector ...

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