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Virkninger av pengemarkedspåslag på kronekursen
(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 ... -
Virkninger av økt oljepris på norsk økonomi
(Aktuell Kommentar;2/2008, Others, 2008)Oljeprisen har økt markert de siste årene. Endringer i oljeprisen påvirker norsk økonomi gjennom en rekke ulike kanaler. Noen sektorer vil oppleve økt etterspørsel, mens andre sektorer primært vil oppleve oljeprisøkningen ... -
Volume and Volatility in the FX Market: Does It Matter Who You Are?
(Working Papers;7/2003, Working paper, 2003)The relationship between volume and volatility has received much attention in the literature on financial markets. However, due to the lack of data, few results have been presented for the foreign exchange (FX) market. ... -
Voting When the Stakes Are High
(Working Papers;15/2010, Working paper, 2010)Rational choice theories of electoral participation stress that an individual's decision to vote depends on her expected net benefit from doing so. If this instrumental motive is relevant, then turnout should be higher in ... -
Wage Formation Under Low Inflation
(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
(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
(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
(Chronicle, 2002-07-31) -
Weaknesses in NIBOR
(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
(Others, 2006) -
Weights and Pools for a Norwegian Density Combination
(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
(Others, 2012) -
Well-Functioning Financial Markets
(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
(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
(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?
(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?
(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
(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?
(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?
(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 ...