Blar i Norges Banks vitenarkiv på forfatter "Bernhardsen, Tom"

Viser treff 21-30 av 30

    • Sammenhengen mellom styringsrenten og pengemarkedsrentene : 2007-2012 

      Bernhardsen, Tom (Aktuell Kommentar;2/2012, Others, 2012)
      I denne kommentaren vises det at endringer i styringsrenten har hatt bredt gjennomslag til pengemarkedsrentene i Norge og andre land, og at risikopåslagene i pengemarkedsrentene er uavhengig av endringer i styringsrenten. ...

    • Simple Cross-Check Models for the Krone Exchange Rate 

      Bernhardsen, Tom (Staff Memo;1/2008, Working paper, 2008)
      In this paper we discuss simple cross-check models for the krone exchange rate. Such models may give information as to whether the exchange rate is in line with basic macroeconomic fundamentals. Norges Bank publishes ...

    • The Choice of Exchange Rate Assumption in the Process of Forecasting Inflation 

      Bernhardsen, Tom; Holmsen, Amund (Staff Memo;3/2005, Working paper, 2005)
      In the process of forecasting inflation the central bank needs to make assumptions regarding the future path of the interest rate and the exchange rate. This paper focuses on the exchange rate assumption. In particular, ...

    • The Neutral Real Interest Rate 

      Bernhardsen, Tom (Staff Memo;1/2005, Working paper, 2005)
      The topic for this paper is the so called neutral real interest rate. This is frequently defined as the level of the real interest rate consistent with stable inflation and production equal to potential production. Hence ...

    • The Neutral Real Interest Rate 

      Bernhardsen, Tom; Gerdrup, Karsten R. (Journal article, 2007)
      The concept “neutral real interest rate” is generally associated with the real interest rate level, which implies that monetary policy is neither expansionary nor contractionary. We define the neutral real interest rate ...

    • The Relationship Between the Key Policy Rate and Macroeconomic Variables : A Simple Cross-Check for Norway 

      Bernhardsen, Tom (Staff Memo;3/2008, Working paper, 2008)
      In this paper we discuss simple relationships between the key policy rate and macroeconomic variables in Norway. Such models may be useful tools in monetary policy analysis as they provide a cross-check for the interest ...

    • Transparency and Predictability in Monetary Policy 

      Bernhardsen, Tom; Kloster, Arne (Journal article, 2002)
      By being open about its policy response pattern, the central bank allows economic agents to understand the implementation of monetary policy. They will then be able to anticipate the central bank's interest rate decisions ...

    • 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 ...

    • Åpenhet og forutsigbarhet i pengepolitikken 

      Bernhardsen, Tom; Kloster, Arne (Journal article, 2002)
      Utslagene i markedsrentene etter Norges Banks rentemøter siden 1999 tyder på at rentebeslutningene har overrasket markedsaktørene noe mer enn i andre land. Over tid er det imidlertid den faktiske utviklingen i inflasjonen ...

    • Økte risikopremier på statsgjeld 

      Bernhardsen, Tom; Åmås, Terje (Aktuell Kommentar;1/2009, Others, 2009)
      I denne kommentaren ser vi på likviditets- og kredittpremier i statspapirmarkedet for land i eurosonen. Når land har felles valuta og pengepolitikk, reflekterer forskjeller i statsrenter i stor grad ulike risikopremier ...