Now showing items 21-39 of 39

    • Multiple Unemployment Equilibria: Do Transitory Shocks Have Permanent Effects? 

      Akram, Q. Farooq (Working Papers;6/1999, Working paper, 1999)
      This paper tests for multiple equilibria in the Norwegian unemployment rate and investigates whether it displays asymmetric response to positive and negative shocks. Linear and nonlinear univariate models are employed to ...
    • Non-Linear Dynamics in Output, Real Exchange Rates and Real Money Balances: Norway, 1830-2003 

      Akram, Q. Farooq; Eitrheim, Øyvind; Sarno, Lucio (Working Papers;2/2005, Working paper, 2005)
      We characterise the behaviour of Norwegian output, the real exchange rate and real money balances over a period of almost two centuries. The empirical analysis is based on a new annual data set that has recently been ...
    • Norwegian Interbank Market’s Response to Changes in Liquidity Policy 

      Akram, Q. Farooq; Findreng, Jon H. (Working Papers;7/2017, Working paper, 2017)
      We investigate pricing and activity in the Norwegian unsecured overnight interbank market in response to a shift in the central bank's liquidity policy. In October 2011, to encourage interbank trading, banks were allotted ...
    • Norwegian Overnight Interbank Interest Rates 

      Akram, Q. Farooq; Christophersen, Casper (Staff Memo;1/2011, Working paper, 2011)
      This paper addresses the lack of reliable information about overnight interest rates in the Norwegian interbank market. We infer actual interest rates from interbank transactions recorded in the real-time gross settlement ...
    • Oil price drivers, geopolitical uncertainty and oil exporters’ currencies 

      Akram, Q. Farooq (Working Paper;15/2019, Working paper, 2019)
      Empirical relationships between crude oil prices and exchange rates of oil exporting countries tend to vary over time. I use econometric models of the norwegian and canadian nominal exchange rates to investigate whether ...
    • Oil Wealth and Real Exchange Rates: The FEER for Norway 

      Akram, Q. Farooq (Working Papers;16/2004, Working paper, 2004)
      It is often argued that Norway’s sizeable net foreign assets based on its petroleum wealth imply an appreciation of its real exchange rate to a permanently strong level. We investigate this issue within the framework of ...
    • 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, ...
    • Policy Analysis in Real Time Using IMF's Monetary Model 

      Akram, Q. Farooq (Working Papers;10/2010, Working paper, 2010)
      We investigate to what extent estimated relationships of the IMF’s monetary model and their policy implications are sample dependent. This model constitutes the core of the IMF’s financial programming models for developing ...
    • PPP Despite Real Shocks: An Empirical Analysis of the Norwegian Real Exchange Rate 

      Akram, Q. Farooq (Working Papers;7/2000, Working paper, 2000)
      Despite the emerging consensus on the validity of purchasing power parity (PPP) between trading countries in the long run, empirical evidence in favour of the PPP theory is scarce in data predominantly exposed to real ...
    • PPP in the Medium Run Despite Oil Shocks: The Case of Norway 

      Akram, Q. Farooq (Working Papers;4/2002, Working paper, 2002)
      Existing studies generally reject purchasing power parity (PPP) on datasets from countries that have been affected by large real shocks, including Norway. However, we offer strong evidence of PPP between Norway and its ...
    • Pricing in the Norwegian Interbank Market – the Effects of Liquidity and Implicit Government Support 

      Akram, Q. Farooq; Christophersen, Casper (Working Papers;2/2016, Working paper, 2016)
      We investigate the effects of central bank liquidity and possible implicit government guarantees against default on Norwegian overnight interbank interest rates. We conduct an econometric study of these interest rates over ...
    • Pursuing Financial Stability Under an Inflation-Targeting Regime 

      Akram, Q. Farooq; Bårdsen, Gunnar; Lindquist, Kjersti-Gro (Working Papers;8/2006, Working paper, 2006)
      We evaluate two main views on pursuing financial stability within a flexible inflation-targeting regime. It appears that potential gains from an activist or precautionary approach to promoting financial stability are highly ...
    • Robust-Satisficing Monetary Policy Under Parameter Uncertainty 

      Akram, Q. Farooq; Ben-Haim, Yakov; Eitrheim, Øyvind (Working Papers;14/2007, Working paper, 2007)
      We employ the robust-satisficing approach to derive robust monetary policy when parameters of a macro model are uncertain. There is a trade-off between robustness of policies and their performance. Hence, under uncertainty, ...
    • State dependent effects in labour and foreign exchange markets 

      Akram, Q. Farooq (Doctoral Dissertations in Economics;1, Doctoral thesis, 2000-02-12)
      The impact of monetary policy in the short- and long-run, and over the business cycle are issues of great interest to a central bank. The response of nominal and real exchange rates to oil price fluctuations are also of ...
    • The Rise in Oil Prices - Fundamental and Financial Factors 

      Akram, Q. Farooq; Winje, Pål (Economic Commentaries;1/2008, Others, 2008)
      Oil prices have risen sharply in recent years and are now record-high also in real terms [...]. Fundamental factors, such as oil supply and demand, are important explanatory variables for the price increase. Financial ...
    • The Role of Oil Prices and Monetary Policy in the Norwegian Economy Since the 1980s 

      Akram, Q. Farooq; Mumtaz, Haroon (Working Papers;1/2016, Working paper, 2016)
      We use a TVP-VAR model to investigate possible changes in the time series properties of key Norwegian macroeconomic variables since the 1980s. The sample period is characterised by deregulation, globalization, sizable ...
    • Virkninger av pengemarkedspåslag på kronekursen 

      Akram, Q. Farooq (Staff Memo;5/2018, Working paper, 2018)
      Flere studier viser at endringer i rentedifferansen mot utlandet påvirker kronekursen. Det er vanlig å måle rentedifferansen mot utlandet med forskjellen i pengemarkedsrenter på tvers av land. Pengemarkedsrenter kan ...
    • What Horizon for Targeting Inflation? 

      Akram, Q. Farooq (Working Papers;13/2007, Working paper, 2007)
      We investigate optimal horizons for targeting inflation in response to different shocks and their properties under alternative preferences of an inflation-targeting central bank. Our analysis is based on a well specified ...
    • When Does the Oil Price Affect the Norwegian Exchange Rate? 

      Akram, Q. Farooq (Working Papers;8/2000, Working paper, 2000)
      Major changes in the Norwegian exchange rate have often coincided with large fluctuations in the price of crude oil. Previous empirical studies have however suggested a weak and ambiguous relation between the oil price and ...