Browsing Norges Banks vitenarkiv by Author "Bårdsen, Gunnar"

Now showing items 1-12 of 12

    • A European-Type Wage Equation from an American-Style Labor Market: Evidence from a Panel of Norwegian Manufacturing Industries in the 1930s 

      Bårdsen, Gunnar; Doornik, Jurgen; Klovland, Jan Tore (Working Papers;4/2004, Working paper, 2004)
      Using a newly constructed panel of manufacturing industry data for interwar Norway, we estimate a long-run wage curve for the 1930s that has all the modern features of being homogeneous in prices, proportional to productivity, ...

    • Econometric Inflation Targeting 

      Bårdsen, Gunnar; Jansen, Eilev S.; Nymoen, Ragnar (Working Papers;5/1999, Working paper, 1999)
      Inflation targeting makes the Central Bank’s conditional inflation forecast the operational target for monetary policy. Successful inflation targeting requires knowing the transmission mechanisms to inflation from shocks ...

    • Evaluation of Macroeconomic Models for Financial Stability Analysis 

      Bårdsen, Gunnar; Lindquist, Kjersti-Gro; Tsomocos, Dimitrios P. (Working Papers;1/2006, Working paper, 2006)
      As financial stability has gained focus in economic policymaking, the demand for analyses of financial stability and the consequences of economic policy has increased. Alternative macroeconomic models are available for ...

    • Expectations switching in a DSGE model of the UK 

      Borge, Anette; Bårdsen, Gunnar; Maih, Junior (Working Paper;4/2020, Working paper, 2020)
      Rational expectations (RE) has been dominant both in the economic literature and in the macromodels routinely used in central banks. The RE assumption has recently come under attack as one of the drawbacks of the Dynamic ...

    • Model Specification and Inflation Forecast Uncertainty 

      Bårdsen, Gunnar; Jansen, Eilev S.; Nymoen, Ragnar (Working Papers;6/2000, Working paper, 2000)
      Three classes of inflation models are discussed: Standard Phillips curves, New Keynesian Phillips curves and Incomplete Competition models. Their relative merits in explaining and forecasting inflation are investigated ...

    • Monetary Policy and Asset Prices: To Respond or Not? 

      Akram, Q. Farooq; Bårdsen, Gunnar; Eitrheim, Øyvind (Working Papers;9/2005, Working paper, 2005)
      We investigate whether there is a case for asset prices in interest rates rules within a small econometric model of the Norwegian economy, modeling the interdependence of the real economy, credit and three classes of ...

    • Pursuing Financial Stability Under an Inflation-Targeting Regime 

      Akram, Q. Farooq; Bårdsen, Gunnar; Lindquist, Kjersti-Gro (Working Papers;8/2006, Working paper, 2006)
      We evaluate two main views on pursuing financial stability within a flexible inflation-targeting regime. It appears that potential gains from an activist or precautionary approach to promoting financial stability are highly ...

    • Rente og inflasjon 

      Bårdsen, Gunnar; Nymoen, Ragnar (Arbeidsnotater;2/2002, Working paper, 2002)
      Vi kartlegger årsakssammenhengen mellom pengemarkedsrenten og inflasjon gjennom en makroøkonometrisk modell. Modellen belyser også hvilke typer sjokk en har størst mulighet til å nøytralisere ved hjelp av moderate ...

    • Sammenhengen mellom styringsrenten og makroøkonomiske variable : noen enkle ligninger for Norge 

      Bernhardsen, Tom; Bårdsen, Gunnar (Staff Memo;2/2004, Working paper, 2004)
      Sentralbanker med fleksibel inflasjonsstyring setter renten ut fra utsiktene for inflasjon og produksjon og sysselsetting. Utsiktene påvirkes av løpende informasjon om den økonomiske utviklingen. Fra utsiden vil analytikere ...

    • Testing Steady-State Implications for the NAIRU 

      Bårdsen, Gunnar; Nymoen, Ragnar (Working Papers;3/2000, Working paper, 2000)
      Estimates of the NAIRU are usually derived either from a Phillips curve or from a wage curve. This paper investigates the correspondence between the operational NAIRU-concepts and the steady state of a dynamic wage-price ...

    • Testing the New Keynesian Phillips Curve 

      Bårdsen, Gunnar; Jansen, Eilev S.; Nymoen, Ragnar (Working Papers;5/2002, Working paper, 2002)
      The dynamic properties of the The New Keynesian Phillips curve (NPC) is analysed within the framework of a small system of linear difference equations. We evaluate the empirical results of existing studies which uses ...

    • The Generic Properties of Equilibrium Correction Mechanisms 

      Bårdsen, Gunnar; Hurn, Stan; Lindsay, Kenneth (Working Papers;8/1999, Working paper, 1999)
      Linear dynamic equilibrium correction mechanisms are shown to follow from the discretisation of continuous economic processes with steady-state solutions. In addition, the proposed procedure provides testable restrictions ...