• A Quantitative Discursive Dilemma 

      Claussen, Carl Andreas; Røisland, Øistein (Working Papers;7/2007, Working paper, 2007)
      The typical judgment aggregation problem in economics and other fields is the following: A group of people has to judge/estimate the value of an uncertain variable y which is a function of κ other variables, i.e. y=D(χ1, ...
    • Collective Economic Decisions and the Discursive Dilemma 

      Claussen, Carl Andreas; Røisland, Øistein (Working Papers;3/2005, Working paper, 2005)
      Most economic decisions involve judgments. When decisions are taken collectively, various judgment aggregation problems may occur. Here we consider an aggregation problem called the discursive dilemma , which is characterized ...
    • Comparing Monetary Policy Transparency. The Eijffinger and Geraats Index - a Comment 

      Claussen, Carl Andreas (Staff Memo;10/2008, Working paper, 2008)
      There is by now a large volume of literature on central bank transparency and communication. One branch of this literature compares transparency across central banks and over time. Recent contributions in this vein are ...
    • Deflasjon? 

      Claussen, Carl Andreas; Hagelund, Kåre (Journal article, 2003)
      Faren for deflasjon har fått fornyet aktualitet internasjonalt i det siste. Artikkelen drøfter hvordan deflasjon oppstår, og hvilke politikkalternativer som da foreligger. Risikoen for global deflasjon synes nokså begrenset.
    • Det amerikanske miraklet - heldige omstendigheter eller "ny økonomi"? 

      Claussen, Carl Andreas (Journal article, 1999)
      Artikkelen tar for seg den økonomiske utviklingen i USA på 1990-tallet og drøfter drivkreftene bak veksten, særtrekk ved 1990-tallet og mulige forklaringer på disse.
    • Explaining Interest Rate Decisions When the MPC Members Believe in Different Stories 

      Claussen, Carl Andreas; Røisland, Øistein (Working Papers;7/2013, Working paper, 2013)
      Modern central banks do not only announce the interest rate decision, they also communicate a "story" that explains why they reached the particular decision. When decisions are made by a committee, it could be difficult ...
    • Explaining the Low US Inflation – Coincidence or “New Economy”? Evidence Based on a Wage-Price Spiral 

      Claussen, Carl Andreas; Staehr, Karsten (Working Papers;2/2001, Working paper, 2001)
      We study possible factors behind the subdued inflation in the United States since the mid-1990s. A standard expectations-augmented Phillips curve does not exhibit structural breaks. However, a wage-price spiral comprising ...
    • Four essays on the political economy of economic reform 

      Claussen, Carl Andreas (Doctoral Dissertations in Economics;3, Doctoral thesis, 2003-05)
      This thesis provides political-economy explanations for the prevalence of inefficient government policies. Possible solutions to the problem of non-adoption of efficient policies are also provided. Understanding why ...
    • Monetary Policy Decisions – Comparing Theory and "Inside" Information from MPC Members 

      Apel, Mikael; Claussen, Carl Andreas; Gerlach-Kristen, Petra; Lennartsdotter, Petra; Røisland, Øistein (Working Papers;3/2013, Working paper, 2013)
      We analyze the influence of the Taylor rule on US monetary policy by estimating the policy preferences of the Fed within a DSGE framework. The policy preferences are represented by a standard loss function, extended with ...
    • Monetary Policy Frameworks – Norges Bank in the Light of the Literature and International Practice 

      Claussen, Carl Andreas; Jonassen, Morten; Langbraaten, Nina (Journal article, 2007)
      The past 20 years have brought major changes in monetary policy, in Norway and abroad. Most central banks now have instrument independence, and price stability is the common objective of monetary policy. The organisation ...
    • Ordningene for pengepolitikken. Norges Bank i lys av litteratur og internasjonal praksis 

      Claussen, Carl Andreas; Jonassen, Morten; Langbraaten, Nina (Journal article, 2007)
      De siste 20 årene har det skjedd store endringer i pengepolitikken internasjonalt og i Norge. Både økonomisk teori og historiske erfaringer ligger bak utviklingen fram til dagens ordninger. Selv om flere trekk er felles, ...
    • Overconfidence, Monetary Policy Committees and Chairman Dominance 

      Claussen, Carl Andreas; Matsen, Egil; Røisland, Øistein; Torvik, Ragnar (Working Papers;17/2009, Working paper, 2009)
      We suggest that overconfidence among policymakers explains why formal decision power over monetary policy is given to committees, while much of the real power to set policy remains with central bank chairmen. Overconfidence ...
    • Persistent Inefficient Redistribution 

      Claussen, Carl Andreas (Working Papers;11/2002, Working paper, 2002)
      Why do governments redistribute through indirect and inefficient means? An intuitive hypothesis is that it masks the real aim and cost of policy. In this paper we construct a dynamic model with an infinite horizon, political ...
    • The Discursive Dilemma in Monetary Policy 

      Claussen, Carl Andreas; Røisland, Øistein (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 ...