• Business Cycles in an Oil Economy: Lessons from Norway 

      Bergholt, Drago; Larsen, Vegard Høghaug (Working Papers;16/2016, Working paper, 2016)
      The recent oil price fall has created concern among policy makers regarding the consequences of terms of trade shocks for resource-rich countries. This concern is not a minor one – the world's commodity exporters combined ...
    • The decline of the labor share: new empirical evidence 

      Bergholt, Drago; Furlanetto, Francesco; Faccioli, Nicolò Maffei (Working Paper;18/2019, Working paper, 2019)
      We estimate a structural vector autoregressive model in order to quantify four main explanations for the decline of the US labor income share: (i) rising market power of firms, (ii) falling market power of workers, (iii) ...
    • Foreign Shocks 

      Bergholt, Drago (Working Papers;15/2015, Working paper, 2015)
      How and to what extent are small open economies affected by international shocks? I develop and estimate a medium scale DSGE model that addresses both questions. The model incorporates i) international markets for firm-to-firm ...
    • Review of Flexible Inflation Targeting (ReFIT) - sluttrapport 

      Alstadheim, Ragna; Bergholt, Drago; Brubakk, Leif; Gerdrup, Karsten R.; Hagelund, Kåre; Hansen, Frank; Husabø, Eilert; Krogh, Tord; Langbraaten, Nina; Midthjell, Nina Larsson; Olsen, Øystein; Røisland, Øistein (Norges Banks Skriftserie;51, Book, 2017)
    • Sectoral Interdependence and Business Cycle Synchronization in Small Open Economies 

      Bergholt, Drago; Sveen, Tommy (Working Papers;4/2014, Working paper, 2014)
      Existing DSGE models are not able to reproduce the observed influence of international business cycles on small open economies. We construct a two-sector New Keynesian model to address this puzzle. The set-up takes into ...
    • The Power of Forward Guidance in NEMO 

      Bergholt, Drago; Meyer, Sara S.; Mimir, Yasin; Røisland, Øistein (Staff Memo;7/2019, Working paper, 2019)
      This staff memo revisits the power of forward guidance with particular emphasis on the effectiveness of anticipated policy in Norges Bank’s main policy model NEMO. First we explain, within the context of a simple toy model, ...