Browsing Norges Banks vitenarkiv by Author "Akram, Q. Farooq"
Now showing items 1-20 of 40
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Arbitrage in the Foreign Exchange Market: Turning on the Microscope
Akram, Q. Farooq; Rime, Dagfinn; Sarno, Lucio (Working Papers;12/2005, Working paper, 2005)This paper provides real-time evidence on the frequency, size and duration of arbitrage opportunities and deviations from the law of one price (LOP) in the foreign exchange market. We investigate deviations from the covered ... -
Central Bank Modernization
Akram, Q. Farooq; Banda, Lenia; Bøhn, Harald; Caesar, Ellen Johanne; Christiansen, Anne Berit; Eide, Jostein; Eklund, Trond; Enge, Asbjørn; Evjen, Snorre; Ford, Chris; Jonassen, Morten; Ligoya, Perks; Natvig, Peder; Nyirongo, Neil; Mdwazika, Fraser; Qvigstad, Jan F.; Selnes, Steinar; Solheim, Jon A.; Watne, Kjetil; Zeleza, Moza; Zephirin, Mary G. (Occasional Papers;40, Book, 2010) -
Commodity Prices, Interest Rates and the Dollar
Akram, Q. Farooq (Working Papers;12/2008, Working paper, 2008)We investigate whether a decline in real interest rates and the US dollar contribute to higher commodity prices, and whether commodity prices tend to display overshooting behavior in response to changes in especially real ... -
Does the Law of One Price Hold in International Financial Markets? Evidence from Tick Data
Akram, Q. Farooq; Rime, Dagfinn; Sarno, Lucio (Working Papers;19/2008, Working paper, 2008)This paper investigates the validity of the law of one price (LOP) in international financial markets by examining the frequency, size and duration of inter-market price differentials for borrowing and lending services ... -
Efficient Consumption of Revenues from Natural Resources - an Application to Norwegian Petroleum Revenues
Akram, Q. Farooq (Working Papers;1/2005, Working paper, 2005)This paper addresses the so-called natural resource curse by devising a rule that can reduce macroeconomic costs associated with the consumption of revenues from natural resources. It assumes that such macroeconomic costs ... -
Employment Behaviour in Slack and Tight Labour Markets
Akram, Q. Farooq; Nymoen, Ragnar (Working Papers;7/2001, Working paper, 2001)Empirical and theoretical studies suggest that employment behaviour varies with the state of the labour market since hiring and firings costs depend on the availability of labour. Extending earlier empirical work on this ... -
En effisient handlingsregel for bruk av petroleumsinntekter
Akram, Q. Farooq (Arbeidsnotater;17/2004, Working paper, 2004)Denne artikkelen undersøker hvor mye vi bør bruke av petroleumsinntektene hvis vi samtidig skal minimere kostnadene ved å bruke dem. Slike kostnader forbindes med sektoromstillinger som ikke kan opprettholdes og må reverseres ... -
Explaining Movements in the Norwegian Exchange Rate
Akram, Q. Farooq; Brunvatne, Kari-Mette; Eitrheim, Øyvind; Gulbrandsen, Kristin; Kloster, Arne; Lokshall, Raymond; Naug, Bjørn E.; Rime, Dagfinn; Røisland, Øistein; Sveen, Tommy; Torvik, Ragnar (Occasional Papers;32, Book, 2003) -
Flexible Inflation Targeting and Financial Stability: Is It Enough to Stabilise Inflation and Output?
Akram, Q. Farooq; Eitrheim, Øyvind (Working Papers;7/2006, Working paper, 2006)We investigate empirically whether a central bank can promote financial stability by stabilizing inflation and output, and whether additional stabilization of asset prices and credit growth would enhance financial stability ... -
Hvilke faktorer kan forklare utviklingen i valutakursen?
Akram, Q. Farooq; Brunvatne, Kari-Mette; Eitrheim, Øyvind; Gulbrandsen, Kristin; Kloster, Arne; Lokshall, Raymond; Naug, Bjørn E.; Rime, Dagfinn; Røisland, Øistein; Sveen, Tommy; Torvik, Ragnar (Norges Banks Skriftserie;31, Book, 2003) -
Identification of Interbank Loans and Interest Rates from Interbank Payments - a Reliability Assessment
Akram, Q. Farooq; Fevolden, Mats Bay; Smith, Lyndsie (Working Paper;8/2018, Working paper, 2018)We investigate the reliability of the 'Furfine filter' often used to identify interbank loans and interest rates from interbank payments settled at central banks. To this end, we have been granted access to records of all ... -
Inferring Interbank Loans and Interest Rates from Interbank Payments - an Evaluation
Akram, Q. Farooq; Christophersen, Casper (Working Papers;26/2013, Working paper, 2013)We investigate whether overnight interbank loans and interest rates can be reliably inferred at the market and bank level from central banks' interbank payments data. We identify overnight loans and interest rates among ... -
Innvandreres tilknytning til arbeidsmarkedet
Akram, Q. Farooq (Arbeidsnotater;5/1998, Working paper, 1998)Kompetanseforskjeller mellom innvandrere og innfødte arbeidere kan være én mulig årsak til at de har ulik ledighets- og sysselsettingsmønster. Innvandrere står overfor en mer usikker avkastning på investeringer i humankapital ... -
Interbank Overnight Interest Rates - Gains from Systemic Importance
Akram, Q. Farooq; Christophersen, Casper (Working Papers;11/2010, Working paper, 2010)We study overnight interbank interest rates paid by banks in Norway over the period 2006-2009. We observe large variations in interest rates across banks and over time. During the financial crisis, the interest rates are ... -
Joint Prediction Bands for Macroeconomic Risk Management
Akram, Q. Farooq; Binning, Andrew; Maih, Junior (Working Papers;7/2016, Working paper, 2016)In this paper we address the issue of assessing and communicating the joint probabilities implied by density forecasts from multivariate time series models. We focus our attention in three areas. First, we investigate a ... -
Macro Effects of Capital Requirements and Macroprudential Policy
Akram, Q. Farooq (Working Papers;21/2012, Working paper, 2012)I investigate macro effects of higher bank capital requirements on the Norwegian economy and their use as a macroprudential policy instrument under Basel III. To this end, I develop a macroeconometric model where the capital ... -
Managing Uncertainty Through Robust-Satisficing Monetary Policy
Akram, Q. Farooq; Ben-Haim, Yakov; Eitrheim, Øyvind (Working Papers;10/2006, Working paper, 2006)We employ information-gap decision theory to derive a robust monetary policy response to Knightian parameter uncertainty. This approach provides a quantitative answer to the question: For a specified policy, how much can ... -
Model Selection for Monetary Policy Analysis – Importance of Empirical Validity
Akram, Q. Farooq; Nymoen, Ragnar (Working Papers;13/2006, Working paper, 2006)We investigate the importance of employing a valid model for monetary policy analysis. Specifically, we investigate the economic significance of differences in specification and empirical validity of models. We consider ... -
Monetary Policy and Asset Prices: To Respond or Not?
Akram, Q. Farooq; Bårdsen, Gunnar; Eitrheim, Øyvind (Working Papers;9/2005, Working paper, 2005)We investigate whether there is a case for asset prices in interest rates rules within a small econometric model of the Norwegian economy, modeling the interdependence of the real economy, credit and three classes of ... -
Monetary Policy Under Uncertainty: Min-Max vs Robust-Satisficing Strategies
Ben-Haim, Yakov; Akram, Q. Farooq; Eitrheim, Øyvind (Working Papers;6/2007, Working paper, 2007)We study monetary policy under uncertainty. A policy which ameliorates a worst case may differ from a policy which maximizes robustness and satisfices the performance. The former strategy is min-maxing and the latter ...