Blar i Norges Banks vitenarkiv på tittel
Viser treff 278-297 av 2790
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The countercyclical capital buffer: A cross-country overview of policy frameworks
(Staff Memo;6/2020, Working paper, 2020)The countercyclical capital buffer (CCyB) is a relatively new macroprudential tool, but the number of countries that have set a positive buffer level increased significantly over recent years. Furthermore, during the ... -
Countercyclical capital requirement reductions, state dependence and macroeconomic outcomes
(Working Paper;9/2020, Working paper, 2020)We use bank-, loan- and firm-level data together with a quasi-natural experiment to estimate the impact of capital requirement reductions on bank lending and real economic outcomes. We find that capital requirement reductions ... -
Country and industry effects in global equity returns
(Discussion note;01/2019, Others, 2019) -
Covered bonds and bank portfolio rebalancing
(Working Paper;6/2021, Working paper, 2021)We use administrative and supervisory data at the bank and loan level to investigate the impact of the introduction of covered bonds on the composition of bank balance sheets and bank risk. Covered bonds, despite being ... -
Covered Interest Parity in long-dated securities
(Working Paper;11/2020, Working paper, 2020)This paper investigates the validity of Covered Interest Rate Parity (CIP) in longdated fixed income securities. I show that common measures of CIP rely on trading strategies subject to rollover risk and credit risk, or ... -
CPI-FW : A Frequency Weighted Indicator of Underlying Inflation
(Economic Commentaries;7/2009, Others, 2009)The monthly change in the CPI varies considerably, and the change from one month to the next often provides little indication about the future direction of inflation. In order to be able to form a picture of how much of ... -
CPIM : A Model-Based Indicator of Underlying Inflation
(Economic Commentaries;6/2010, Others, 2010)The CPIM is a new indicator of underlying inflation (see the October 2010 Monetary Policy Report). This indicator is based on the predictive power of the sub-indices of the CPI and thus differs somewhat from other indicators ... -
CPIXE and Projections for Energy Prices
(Staff Memo;7/2008, Working paper, 2008)This paper describes the new indicator of underlying inflation used at Norges Bank, the consumer price index adjusted for tax changes and excluding temporary changes in energy prices (CPIXE). In particular, we discuss the ... -
CPIXE, a New Indicator of Underlying Inflation
(Economic Commentaries;3/2008, Others, 2008)The operational target of monetary policy is annual consumer price inflation of approximately 2.5 per cent over time. In general, the direct effects on consumer prices resulting from changes in interest rates, taxes, excise ... -
Credit, Asset Prices and Monetary Policy
(Staff Memo;13/2010, Working paper, 2010)Based on the established literature, we develop a structural model for the Norwegian economy that incorporates feed-backs from asset prices and credit to the real economy. We then use this framework for policy analysis, ... -
Credit, House Prices, and Risk Taking by Banks in Norway
(Staff Memo;13/2011, Working paper, 2011)Motivated by alternative explanations of the financial crisis (e.g., Acharya and Richardson, 2010; Taylor, 2007), I study, first, repercussions between house price growth and household credit growth in Norway, and second, ... -
Crisis Resolution and Financial Stability in Norway
(Others, 2003) -
Criteria for an Appropriate Countercyclical Capital Buffer
(Norges Bank Papers;1/2013, Report, 2013)The objective of the countercyclical capital buffer is to strengthen the resilience of the banking sector to an economic downturn and counter excessive fluctuations in the credit supply that may amplify the economic cycle. ... -
Criteria for “good” justifications
(Working papers;6/2018, Working paper, 2018)Many institutions in a democratic society wield important power by virtue of the decisions they make. These decisions may concern individuals or have a more general impact on society. It goes without saying today that this ... -
Critical Realism and Econometrics
(Working Papers;4/2003, Working paper, 2003)In "Economics and Reality" (1997) Tony Lawson advocates a perspective on social reality labelled critical realism. Critical realism maintains that strict regularities between observable events are the exception rather than ... -
Cross-Boarder Diversification in Bank Asset Portfolios
(Working Papers;11/2004, Working paper, 2004)Taking the mean-variance portfolio model as a benchmark, we compute the optimally diversified portfolio for banks located in France, Germany, the U.K., and the U.S. under different assumptions about currency hedging. We ... -
CSAs – Regulating Counterparty Risk Through the Use of Collateral Payments
(Journal article, 2011)Counterparty risk associated with trading in financial instruments can be substantial. This applies especially to certain types of derivatives trades with long-dated contracts. The most common way to mitigate this risk for ... -
Currency Carry Trade
(Discussion note;3/2014, Others, 2014)The carry trade in currency markets means that an investor buys a high-yielding currency and finances this by borrowing money in a currency with a low interest rate. The empirical literature on the carry trade indicates ...