Blar i Norges Banks vitenarkiv på forfatter "Røisland, Øistein"

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    • 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, ...

    • A Small, Calibrated Macromodel to Support Inflation Targeting at Norges Bank 

      Husebø, Tore Anders; McCaw, Sharon; Olsen, Kjetil; Røisland, Øistein (Staff Memo;3/2004, Working paper, 2004)
      This note outlines a small, calibrated macromodel that can be used to support inflation targeting at Norges Bank. The model provides a stylised representation of the key flows in the macro economy, with a particular emphasis ...

    • Avveininger i pengepolitikken 

      Svendsen, Ingvild; Røisland, Øistein; Olsen, Kjetil (Journal article, 2004)
      Fleksibel inflasjonsstyring innebærer at sentralbanken på kort sikt foretar en avveining mellom prisstabilitet og realøkonomisk stabilitet. En toårshorisont for oppnåelse av inflasjonsmålet gir normalt en hensiktsmessig ...

    • Can the Price of Currency Options Provide an Indication of Market Perceptions of the Uncertainty Attached to the Krone Exchange Rate? 

      Eitrheim, Øyvind; Frøyland, Espen; Røisland, Øistein (Journal article, 1999)
      Prices in the currency options market can provide an indication of market perceptions of the uncertainty attached to future exchange rates. We have used these option prices to calculate the probability distribution for the ...

    • Can the price of currency options provide an indication of market perceptions of the uncertainty attached to the krone exchange rate? 

      Eitrheim, Øyvind; Frøyland, Espen; Røisland, Øistein (Journal article, 1999)
      Prices in the currency options market can provide an indication of market perceptions of the uncertainty attached to future exchange rates. We have used these option prices to calculate the probability distribution for the ...

    • 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 ...

    • Communicating Monetary Policy Intentions: The Case of Norges Bank 

      Holmsen, Amund; Qvigstad, Jan F.; Røisland, Øistein; Solberg-Johansen, Kristin (Working Papers;20/2008, Working paper, 2008)
      Monetary policy works mainly through private agents’ expectations. How precisely future policy intentions are communicated has, according to theory, implications for the outcome of monetary policy. Norges Bank has gone ...

    • 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 Movements in the Norwegian Exchange Rate 

      Akram, Q. Farooq; Brunvatne, Kari-Mette; Eitrheim, Øyvind; Gulbrandsen, Kristin; Kloster, Arne; Lokshall, Raymond; Naug, Bjørn E.; Rime, Dagfinn; Røisland, Øistein; Sveen, Tommy; Torvik, Ragnar (Occasional Papers;32, Book, 2003)

    • Factors That Influence the Krone Exchange Rate 

      Bernhardsen, Tom; Røisland, Øistein (Journal article, 2000)
      Expectations about future interest rates and inflation influence economic developments. For example, market expectations of higher inflation may themselves result in higher inflation, for instance through higher pay ...

    • Fiscal Policy Under Inflation Targeting 

      Røisland, Øistein; Torvik, Ragnar (Working Papers;15/2000, Working paper, 2000)
      The paper discusses the role of fiscal policy as an instrument for macroeconomic stabilisation when monetary policy pursues inflation targeting. Within a theoretical model of an open economy with a traded and non-traded ...

    • Hvilke faktorer kan forklare utviklingen i valutakursen? 

      Akram, Q. Farooq; Brunvatne, Kari-Mette; Eitrheim, Øyvind; Gulbrandsen, Kristin; Kloster, Arne; Lokshall, Raymond; Naug, Bjørn E.; Rime, Dagfinn; Røisland, Øistein; Sveen, Tommy; Torvik, Ragnar (Norges Banks Skriftserie;31, Book, 2003)

    • Hvilke faktorer påvirker kronekursen? 

      Bernhardsen, Tom; Røisland, Øistein (Journal article, 2000)
      I denne artikkelen undersøkes hvordan kronekursen avhenger av blant annet oljeprisen og uro i det internasjonale finansmarkedet. Både kronekursen mot tyske mark (euro fra. 1. januar 1999) og kronekursen målt mot et ...

    • Implementing and Communicating Optimal Monetary Policy 

      Holmsen, Amund; Qvigstad, Jan F.; Røisland, Øistein (Staff Memo;3/2007, Working paper, 2007)
      The interest rate forecast plays a key role in the communication of monetary policy in Norges Bank. We give a comprehensive overview of the Bank’s communication with focus on the interest rate forecast. The main arguments ...

    • Inflation Inertia and the Optimal Hybrid Inflation/Price-Level Target 

      Røisland, Øistein (Working Papers;4/2005, Working paper, 2005)
      A hybrid inflation/price-level target combines elements of both inflation and price-level targets. The paper derives a hybrid target within a new Keynesian model with inflation persistence due to price indexation. The ...

    • Kan prisen på valutaopsjoner si noe om markedets oppfatning av usikkerhet om kronekursen? 

      Eitrheim, Øyvind; Frøyland, Espen; Røisland, Øistein (Journal article, 1999)
      Prisene i markedet for valutaopsjoner kan gi informasjon om hvordan markedsaktørene vurderer usikkerheten om fremtidig valutakurs. På basis av disse opsjonsprisene har vi beregnet sannsynlighetsfordelingen for kursen på ...

    • Monetary Policy Analysis in Practice 

      Alstadheim, Ragna; Bache, Ida Wolden; Holmsen, Amund; Maih, Junior; Røisland, Øistein (Staff Memo;11/2010, Working paper, 2010)
      Norges Bank is one of few central banks publishing an interest rate fore- cast. This paper discusses how we derive and communicate the interest rate forecast. To produce the forecasts, the Bank uses a medium-sized small ...

    • 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 Under Inflation Targeting 

      Røisland, Øistein; Sveen, Tommy (Occasional Papers;53/2018, Book, 2018)
      Monetary policy plays a central role in modern macroeconomics and many countries around the world has adopted inflation targeting as a guideline for policy. We emphasize and explain policy goals and then we assume that the ...

    • Monetary policy when export revenues drop 

      Bergholt, Drago; Røisland, Øistein; Sveen, Tommy; Torvik, Ragnar (Working paper;11/2022, Working paper, 2022)
      We study how monetary policy should respond to shocks which permanently alter the steady state structure of the economy. In such a case monetary policy affects not only the short run misallocations due to nominal rigidities, ...