Browsing Norges Banks vitenarkiv by Title
Now showing items 2438-2457 of 2796
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The Conduct of Monetary Policy
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The Conduct of Monetary Policy
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The Conduct of Monetary Policy
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The Conduct of Monetary Policy
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The Conduct of Monetary Policy
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The Conduct of Monetary Policy
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The Conduct of Monetary Policy
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The Conduct of Monetary Policy
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The consumption function in Norway. Breakdown and reconstruction
(Working Papers;7/1989, Working paper, 1989)In the mid-eighties econometric forecasts and ex post simulations of private consumption in Norway began to show clear signs of "structural breakdown" .This evidence lends itself to two interpretations, distinct in their ... -
The Costs of Price Stability – Downward Nominal Wage Rigidity in Europe
(Working Papers;8/2002, Working paper, 2002)In most European countries, the prevailing terms of employment, including the nominal wage, can only be changed by mutual consent. If inflation is so low that nominal wages have to be cut, the workers have strategic advantage ... -
The Credit Premium
(Discussion note;3/2011, Others, 2011)In this section, we review the theory and empirical evidence of the credit premium. The credit premium is the excess return that an investor obtains for holding bonds issued by entities other than governments. A natural ... -
The Daily Liquidity Effect in a Floor System – Empirical Evidence from the Norwegian Market
(Working Papers;14/2012, Working paper, 2012)This paper analyses the liquidity effect in Norway by examining the relationship between a range of liquidity variables and five different measures of the short-term interbank premium. The models are estimated on data from ... -
The Decentralised Central Bank: Regional Bank Rate Autonomy in Norway, 1850-1892
(Working Papers;20/2015, Working paper, 2015)Before 1893 the regional branches of Norges Bank set their own bank rates. We discuss how bank rate autonomy could be reconciled with the fixed exchange rate commitments of the silver and gold standard. Although the ... -
The Declining Deposit to Loan Ratio - What Can the Banks Do?
(Staff Memo;28/2012, Working paper, 2012)We have been exploring possible explanations for the strong decline in the ratio between bank deposits held by the non-financial sector in Norway, and the bank loans taken by the same sector. We have followed two different ... -
The Degree of Independence in European Goods Markets: An I(2) Analysis of German and Norwegian Trade Data
(Working Papers;19/2004, Working paper, 2004)It is almost common knowledge that foreign trade in Europe is characterized by an acceptance of prices set by the world market. Coupled with a constant profit share in domestic sectors this makes European exports vulnerable ... -
The Development of the Norwegian Payment System in the Period 1945–2010, with Particular Focus on the Role of Norges Bank
(Journal article, 2012)The article is a slightly revised version of Chapter II (the summary) in Norges Bank’s Occasional Paper No. 44. The Occasional Paper surveys the development of the Norwegian payment system in the period 1945-2010. It ... -
The Discursive Dilemma in Monetary Policy
(Working Papers;5/2010, Working paper, 2010)The discursive dilemma implies that the policy decision of a board of policymakers depends on whether the board reaches the decision by voting directly on policy (conclusion-based procedure), or by voting on the premises ... -
The Diversification Potential of Real Estate
(Discussion note;1/2015, Others, 2015)We review the return characteristics and return drivers of private real estate investments and assess these in the perspective of a multi-asset portfolio. Our conclusions are based on our interpretation and weighting of ... -
The Dynamics of Operating Income in the Norwegian Banking Sector
(Working Papers;13/2008, Working paper, 2008)The banking literature contains only a handful of studies of how bank revenues vary over the business cycle, and nearly all of these studies look exclusively on the net interest margin. The general conclusion has been that ...