• Are Bank Lending Shocks Important for Economic Fluctuations? 

      Halvorsen, Jørn Inge; Jacobsen, Dag Henning (Working Papers;27/2009, Working paper, 2009)
      We analyze the importance of bank lending shocks on real activity in Norway and the UK, using structural VARs and based on quarterly data for the past 21 years. The VARs are identified using a combination of sign and ...
    • Boliginvesteringer og boligpriser 

      Jacobsen, Dag Henning; Solberg-Johansen, Kristin; Haugland, Kjersti (Journal article, 2006)
      I artikkelen analyseres utviklingen i boliginvesteringene og samspillet mellom etterspørsel og tilbud i boligmarkedet. Analysen indikerer at den markerte økningen i boliginvesteringene siden 2004 har sammenheng med lav ...
    • Housing Investment and House Prices 

      Jacobsen, Dag Henning; Solberg-Johansen, Kristin; Haugland, Kjersti (Journal article, 2007)
    • Hva påvirker gjeldsveksten i husholdningene? 

      Jacobsen, Dag Henning; Naug, Bjørn E. (Journal article, 2004)
      Husholdningenes gjeld har økt med 10–11 prosent per år siden 2000. Artikkelen analyserer faktorer bak den sterke gjeldsveksten med utgangspunkt i en empirisk modell. Den viser at gjeldsøkningen særlig har sammenheng med ...
    • Hva påvirker konkursutviklingen? 

      Jacobsen, Dag Henning; Kloster, Thea Birkeland (Journal article, 2005)
      Antall konkurser økte markert i 2002 og 2003, men falt igjen i fjor og i første halvår i år. Faktorer bak konkursutviklingen analyseres med utgangspunkt i en empirisk modell. Fortjenestemarginer, konkurranseevne, realrente ...
    • Makroøkonomiske virkninger av høyere kapitalkrav for bankene 

      Jacobsen, Dag Henning; Kloster, Thea Birkeland; Kvinlog, Aslak Bakke; Larsen, Unni (Staff Memo;14/2011, Working paper, 2011)
      EU-kommisjonens forslag til nytt kapitaldirektiv (CRD IV) inneholder blant annet strengere minstekrav til kapital og et forslag om å innføre en motsyklisk kapitalbuffer. Direktivet skal etter planen innføres fra 2013 og ...
    • Measuring and Predicting Household Housing Wealth 

      Berge, Tor Oddvar; Boye, Katrine Godding; Jacobsen, Dag Henning; Lindquist, Kjersti-Gro; Skjæveland, Marita (Staff Memo;4/2006, Working paper, 2006)
      At Norges Bank, a small model has been developed, which includes estimated equations for the two variables that ultimately determine developments in household housing wealth, namely house prices and housing investment. In ...
    • Pengepolitikkens bankutlånskanal 

      Jacobsen, Dag Henning (Staff Memo;19/2012, Working paper, 2012)
      Pengepolitikken påvirker økonomien gjennom flere kanaler, og blant annet vil styringsrenten innvirke på lånerentene husholdninger og bedrifter står overfor. Pengepolitikken har også midlertidig betydning for låntakernes ...
    • The Impact of House Prices on Household Debt When Controlling for Home Ownership 

      Jacobsen, Dag Henning; Vatne, Bjørn Helge (Working Papers;8/2011, Working paper, 2011)
      We analyze the effect of house price changes on debt secured on dwellings in Norway. To this end, we use both macro time series and micro panel data. With the intention of being both a cross-check and motivation for the ...
    • The Role of House Prices in the Monetary Policy Transmission Mechanism in Small Open Economies 

      Bjørnland, Hilde C.; Jacobsen, Dag Henning (Working Papers;6/2009, Working paper, 2009)
      We analyse the role of house prices in the monetary policy transmission mechanism in Norway, Sweden and the UK using structural VARs. A solution is proposed to the endogeneity problem of identifying hocks to interest rates ...
    • The Role of House Prices in the Monetary Policy Transmission Mechanism in the U.S. 

      Bjørnland, Hilde C.; Jacobsen, Dag Henning (Working Papers;24/2008, Working paper, 2008)
      We analyze the role of house prices in the monetary policy transmission mechanism in the U.S. using structural VARs. The VAR is identified using a combination of short-run and long-run (neutrality) restrictions, allowing ...
    • What Drives House Prices? 

      Jacobsen, Dag Henning; Naug, Bjørn E. (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 Influences the Growth of Household Debt? 

      Jacobsen, Dag Henning; Naug, Bjørn E. (Journal article, 2004)
      Household debt has increased by 10–11 per cent annually since 2000. In the following, the factors underlying the strong growth in debt are analysed using an empirical model. The debt growth of recent years is found to be ...
    • What Influences the Number of Bankruptcies? 

      Jacobsen, Dag Henning; Kloster, Thea Birkeland (Journal article, 2005)
      After having remained relatively stable from the mid-1990s, the number of bankruptcies rose sharply in 2002 and 2003, but then fell again last year and in the first six months of 2005. Using an empirical model, we analyse ...