• Countercyclical capital requirement reductions, state dependence and macroeconomic outcomes 

      Juelsrud, Ragnar E.; Arbatli-Saxegaard, Elif C. (Working Paper;9/2020, Working paper, 2020)
      We use bank-, loan- and firm-level data together with a quasi-natural experiment to estimate the impact of capital requirement reductions on bank lending and real economic outcomes. We find that capital requirement reductions ...
    • Covered bonds and bank portfolio rebalancing 

      Cao, Jin; Juelsrud, Ragnar E.; Sondershaus, Talina (Working Paper;6/2021, Working paper, 2021)
      We use administrative and supervisory data at the bank and loan level to investigate the impact of the introduction of covered bonds on the composition of bank balance sheets and bank risk. Covered bonds, despite being ...
    • Negative Nominal Interest Rates and the Bank Lending Channel 

      Eggertsson, Gauti B.; Juelsrud, Ragnar E.; Summers, Lawrence H.; Wold, Ella Getz (Working Paper;4/2019, Working paper, 2019)
      Following the crisis of 2008, several central banks engaged in a new experiment by setting negative policy rates. Using aggregate and bank level data, we document that deposit rates stopped responding to policy rates once ...
    • Opacity and risk-taking: Evidence from Norway 

      Cao, Jin; Juelsrud, Ragnar E. (Working Paper;12/2020, Working paper, 2020)
      This paper investigates how balance sheet opacity affects banks' risk-taking behavior. We measure bank balance sheet opacity according to two metrics: the ratio of available-for-sale (AFS) securities and the ratio of ...
    • The Saving and Employment Effects of Higher Job Loss Risk 

      Juelsrud, Ragnar E.; Wold, Ella Getz (Working Paper;17/2019, Working paper, 2019)
      In this paper we use Norwegian tax data and a novel natural experiment to isolate the impact of job loss risk on saving behavior. We find that a one percentage point increase in job loss risk increases liquid savings by ...