• Mitigating the impact of fuel subsidy removal in an oil-producing emerging economy 

  Maih, Junior; Omotosho, Babatunde S.; Yang, Bo (Working paper;15/2024, Working paper, 2024)

  This paper examines the implications of fuel subsidy removal in an oil-producing economy, focusing on the central bank’s response to volatile oil prices. Using a Markov-switching dynamic stochastic general equilibrium ...

• Stock market wealth and entrepreneurship 

  Chodorow-Reich, Gabriel; Nenov, Plamen T.; Santos, Vitor; Simsek, Alp (Working paper;16/2024, Working paper, 2024)

  We use data on stock portfolios of Norwegian households to show that stock market wealth increases entrepreneurship by relaxing financial constraints. Our research design isolates idiosyncratic variation in household-level ...

• Quantile combination : an application to US GDP growth forecasts 

  Aastveit, Knut Are; ter Ellen, Saskia; Mantoan, Giulia (Working paper;14/2024, Working paper, 2024)

  We propose an easy-to-implement framework for combining quantile forecasts, applied to forecasting GDP growth. Using quantile regressions, our combination scheme assigns weights to individual forecasts from different ...

• Monetary policy shock, financial frictions and heterogeneous firms 

  Cao, Jin; Hamano, Masashige; Maih, Junior (Working paper;13/2024, Working paper, 2024)

  This paper examines the influence of financial constraints on the transmission of monetary policy shocks across heterogeneous firms. To this end, we develop a Dynamic Stochastic General Equilibrium (DSGE) model incorporating ...

• Unveiling inflation: oil shocks, supply chain pressures, and expectations 

  Aastveit, Knut Are; Bjørnland, Hilde C.; Cross, Jamie L.; Kalstad, Helene Olsen (Working paper;12/2024, Working paper, 2024)

  This paper demonstrates that inflation expectations have acted as significant amplifiers of recent global demand and supply shocks, thereby playing a crucial role in maintaining inflation at relatively high levels. This ...

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