Blar i Norges Banks vitenarkiv på emneord "predictability"
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House Prices, Expectations, and Time-Varying Fundamentals
(Working Papers;5/2013, Working paper, 2013)We investigate the behavior of the equilibrium price-rent ratio for housing in a simple Lucas-type asset pricing model. We allow for time-varying risk aversion (via external habit formation) and time-varying persistence ... -
Monetary Policy Predictability in the Euro Area: An International Comparison
(Working Papers;7/2005, Working paper, 2005)The paper evaluates the ability of market participants to anticipate monetary policy decisions in the euro area and in 13 other countries. First, by looking at the magnitude and the volatility of the changes in the money ...