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 ...

Recent work by Clements and Hendry have shown why forecasting systems that are in terms of differences, dVARs, can be more accurate than economet- ric models that include levels variables, ECMs. For example, dVAR forecasts ...

We investigate empirically whether a central bank can promote financial stability by stabilizing inflation and output, and whether additional stabilization of asset prices and credit growth would enhance financial stability ...

Annual house price indices for four Norwegian cities are presented for the period from 1819 to 1989. The indices are constructed on the basis of nominal housing transaction prices compiled from the real property registers ...

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 ...

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 ...

We characterise the behaviour of Norwegian output, the real exchange rate and real money balances over a period of almost two centuries. The empirical analysis is based on a new annual data set that has recently been ...