Now showing items 2579-2598 of 2685

    • Wage Formation Under Low Inflation 

      Holden, Steinar (Working Papers;14/2004, Working paper, 2004)
      This paper reviews the literature on the effects of low steady-state inflation on wage formation, focusing on four different effects. First, under low inflation, downward nominal wage rigidity (DNWR) may prevent real wage ...
    • Wage Rigidity, Institutions, and Inflation 

      Holden, Steinar; Wulfsberg, Fredrik (Working Papers;2/2009, Working paper, 2009)
      A number of recent studies have documented extensive downward nominal wage rigidity (DNWR) for job stayers in many OECD countries. However, DNWR for individual workers may induce downward rigidity or “a floor” for the ...
    • Wages and Profitability: Norwegian Manufacturing 1967Q1 - 1998Q2 

      Bjørnstad, Roger; Nymoen, Ragnar (Working Papers;7/1999, Working paper, 1999)
      Economic theories of imperfectely competitive labour markets predict that wages are linked to profits. In spite of this, profit variables are not explicitely specified in empirical models of wage formation that otherwise ...
    • We Need the IMF : chronicle in Dagens Næringsliv 

      Bergo, Jarle (Chronicle, 2002-07-31)
    • Weaknesses in NIBOR 

      Unknown author (Norges Bank Papers;2/2014, Report, 2014)
      High-frequency data from Thomson Reuters provide an opportunity to study in detail how individual banks have determined their NIBOR contributions. The analysis shows that the individual panel banks’ contributions to NIBOR ...
    • Wealth Management in a Public Setting 

      Gjedrem, Svein (Others, 2006)
    • Weights and Pools for a Norwegian Density Combination 

      Bjørnland, Hilde C.; Gerdrup, Karsten R.; Smith, Christie; Jore, Anne Sofie; Thorsrud, Leif Anders (Working Papers;6/2010, Working paper, 2010)
      We apply a suite of models to produce quasi-real-time density forecasts of Norwegian GDP and inflation, and evaluate different combination and selection methods using the Kullback-Leibler information criterion (KLIC). We ...
    • Welcome Remarks 

      Unknown author (Others, 2012)
    • Well-Functioning Financial Markets 

      Unknown author (Discussion note;13/2012, Others, 2012)
      In this note we discuss the theoretical foundation for well-functioning financial markets and why well-functioning financial markets are essential to reach the objective for the management of the Fund. Against this background ...
    • What Captures Liquidity Risk? a Comparison of Trade and Order Based Liquidity Factors 

      Chollete, Lorán; Næs, Randi; Skjeltorp, Johannes A. (Working Papers;3/2007, Working paper, 2007)
      Is the effect of liquidity risk on asset prices sensitive to our choice of liquidity proxy? In addressing this fundamental question, we achieve two main results. First, when we estimate factor models on a broad range of ...
    • What Determines Banks’ Market Power? Akerlof versus Herfindahl 

      Kim, Moshe; Kristiansen, Eirik Gaard; Vale, Bent (Working Papers;8/2005, Working paper, 2005)
      We introduce a model analyzing how asymmetric information problems in a bank-loan market may evolve over the age of a borrowing firm. The model predicts a life-cycle pattern for banks’ interest rate markup. Young firms pay ...
    • 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 ...
    • What do banks lose money on during crises? 

      Solheim, Haakon; Kragh-Sørensen, Kasper (Staff Memo;3/2014, Working paper, 2014)
      We look at a wide range of national and international crises to identify banks' exposures to losses during banking crises. We find that banks generally sustain greater losses on corporate loans than on household loans. ...
    • What Do We Really Know About the Long-Term Evolution of Central Banking? Evidence from the Past, Insights for the Present 

      Ugolini, Stefano (Working Papers;15/2011, Working paper, 2011)
      The ongoing financial crisis is shaking central bankers’ certainties about their mission, and a rethinking of such mission can greatly benefit from a non-finalistic reassessment of how central banking has evolved over the ...
    • What Drives House Prices? 

      Jacobsen, Dag Henning; Naug, Bjørn E. (Journal article, 2005)
      House prices have more than tripled since 1992. After having fallen during the last part of 2002 and the beginning of 2003, house prices rose by more than 20 per cent from May 2003 to November 2004. We analyse factors ...
    • What drives office rents? 

      Bjørland, Christian; Hagen, Marius (Staff Memo;12/2019, Working paper, 2019)
      Banks have substantial exposures to commercial real estate (CRE). Rental prices are important for CRE companies’ debt-service capacity, which in turn affects the risk of future bank losses. In this paper, we estimate error ...
    • What Drives Oil Prices? Emerging Versus Developed Economies 

      Aastveit, Knut Are; Bjørnland, Hilde C.; Thorsrud, Leif Anders (Working Papers;11/2012, Working paper, 2012)
      We analyze the importance of demand from emerging and developed economies as drivers of the real price of oil over the last two decades. Using a factor-augmented vector autoregressive (FAVAR) model that allows us to ...
    • What Drives the Risk Premium in Nibor? 

      Lund, Kathrine; Tafjord, Kristian; Øwre-Johnsen, Marit (Economic Commentaries;10/2016, Others, 2016)
      In this Commentary, we illustrate how the risk premium in Nibor can be decomposed to better understand the driving forces affecting the Norwegian money market rate. Furthermore, we use historical data to discuss how ...
    • What Factors Affect the Oslo Stock Exchange? 

      Næs, Randi; Skjeltorp, Johannes A.; Ødegaard, Bernt Arne (Working Papers;24/2009, Working paper, 2009)
      This paper analyzes return patterns and determinants at the Oslo Stock Exchange (OSE) in the period 1980-2006. We find that a three-factor model containing the market, a size factor and a liquidity factor provides a ...
    • What Factors Influence Firms’ Investment Decisions? 

      Hjelseth, Ida Nervik; Meyer, Sara Skjeggestad; Walle, Mari Aasgaard (Economic Commentaries;10/2017, Others, 2017)
      Business investment in mainland Norway has been relatively weak since the financial crisis, even though the key policy rate has been reduced to a historically low level. Through its Regional Network, Norges Bank has ...