Browsing Norges Banks vitenarkiv by Author "Larsen, Vegard H."
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Climate risk and commodity currencies
Kapfhammer, Felix; Larsen, Vegard H.; Thorsrud, Leif Anders (Working Paper;18/2020, Working paper, 2020)The positive relationship between real exchange rates and natural resource income is well understood and studied. However, climate change and the transition to a lower-carbon economy now challenges this relationship. We ... -
Narrative monetary policy surprises and the media
ter Ellen, Saskia; Larsen, Vegard H.; Thorsrud, Leif Anders (Working Paper;19/2019, Working paper, 2019)We propose a method to quantify narratives from textual data in a structured manner, and identify what we label "narrative monetary policy surprises" as the change in economic media coverage that can be explained by central ... -
News media vs. FRED-MD for macroeconomic forecasting
Ellingsen, Jon; Larsen, Vegard H.; Thorsrud, Leif Anders (Working Paper;14/2020, Working paper, 2020)Using a unique dataset of 22.5 million news articles from the Dow Jones Newswires Archive, we perform an in depth real-time out-of-sample forecasting comparison study with one of the most widely used data sets in the newer ...