Blar i Norges Banks vitenarkiv på forfatter "Mimir, Yasin"

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    • Asset purchases as a remedy for the original sin redux 

      Mimir, Yasin; Sunel, Enes (Working Paper;8/2021, Working paper, 2021)
      We provide a theory on how a wider foreign lending base of local-currency sovereign debt may lead to destabilising effects (the original sin redux). Bond sell-offs by foreigners induce domestic banks to fund the government, ...

    • Distributional effects of monetary policy in Norway 

      Mimir, Yasin; Mæhlum, Mathis; Torstensen, Kjersti Næss (Staff Memo;4/2021, Working paper, 2021)
      We quantify the short-term effects of both non-systematic and systematic monetary policy on the income and wealth distribution in Norway, and measure the relative importance of the various channels. An expansionary monetary ...

    • Leaning against persistent financial cycles with occasional crises 

      Kockerols, Thore; Kravik, Erling Motzfeldt; Mimir, Yasin (Working Paper;11/2021, Working paper, 2021)
      Should central banks use leaning against the wind (LAW)-type monetary or macroprudential policy to address risks to financial stability? We first assess LAW as a one-off (nonsystematic) policy using an estimated large-scale ...

    • Navigating with NEMO 

      Kravik, Erling Motzfeldt; Mimir, Yasin (Staff Memo;5/2019, Working paper, 2019)
      This paper describes NEMO, the main dynamic stochastic general equilibrium model used at Norges Bank for monetary policy analysis and forecasting. NEMO has been used to identify the sources of business cycle fluctuations ...

    • Norway’s road to inflation targeting : Overcoming the fear of floating – counterfactual analyses of four episodes 

      Eitrheim, Øyvind; Qvigstad, Jan Fredrik; Kravik, Erling Motzfeldt; Mimir, Yasin (Occasional Papers;56/2020, Book, 2020)
      Norway suffered from a deep recession with a systemic banking crisis in the early 1990s. The prevailing fixed exchange rate system at that time had procyclical properties. The fall of the Berlin Wall in 1989, the German ...

    • 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, ...