Browsing Norges Banks vitenarkiv by Author "Maih, Junior"

Now showing items 21-26 of 26

    • Oil and Macroeconomic (In)Stability 

      Bjørnland, Hilde C.; Larsen, Vegard Høghaug; Maih, Junior (Working Papers;12/2016, Working paper, 2016)
      We analyze the role of oil price volatility in reducing U.S. macroeconomic instability. Using a Markov Switching Rational Expectation New-Keynesian model we revisit the timing of the Great Moderation and the sources of ...

    • On Bayesian filtering for Markov regime switching models 

      Hashimzade, Nigar; Kirsanov, Oleg; Kirsanova, Tatiana; Maih, Junior (Working paper;8/2024, Working paper, 2024)
      This paper presents a framework for empirical analysis of dynamic macroeconomic models using Bayesian filtering, with a specific focus on the state-space formulation of Dynamic Stochastic General Equilibrium (DSGE) models ...

    • Sigma Point Filters for Dynamic Nonlinear Regime Switching Models 

      Binning, Andrew; Maih, Junior (Working Papers;10/2015, Working paper, 2015)
      In this paper we take three well known Sigma Point Filters, namely the Unscented Kalman Filter, the Divided Difference Filter, and the Cubature Kalman Filter, and extend them to allow for a very general class of dynamic ...

    • Simple Rules Versus Optimal Policy: What Fits? 

      Bache, Ida Wolden; Brubakk, Leif; Maih, Junior (Working Papers;3/2010, Working paper, 2010)
      We estimate a small open-economy DSGE model for Norway with two specifications of monetary policy: a simple instrument rule and optimal policy based on an intertemporal loss function. The empirical fit of the model with ...

    • State Space Models with Endogenous Regime Switching (currently unavailable) 

      Chang, Yoosoon; Maih, Junior; Tan, Fei (Working Paper;12/2018, Working paper, 2018)

    • Trend inflation in Japanese pre-2000s : a Markov-switching DSGE 

      Kato, Ryo; Maih, Junior; Nishihama, Shin-Ichi (Working paper;3/2025, Working paper, 2025)
      In Japan, the inflation rate declined to near-zero, whereas the monetary policy faced a zero lower bound (ZLB) in the 1990s. We examine whether trend inflation had fallen to near-zero prior to the ZLB. To achieve this, we ...