Browsing Norges Banks publikasjonsserier / Norges Bank publication series by Title
Now showing items 937-956 of 1427
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Optimal kapitaldekning for norske banker
(Staff Memo;9/2022, Working paper, 2022)I dette memoet analyserer vi hvor høy kapitaldekning bankene bør ha i et samfunnsøkonomisk perspektiv. Mer egenkapital i bankene kan bidra til finansiell stabilitet ved å redusere risikoen for kostbare bankkriser, men utlån ... -
Optimal Monetary Policy When Agents Are Learning
(Working Papers;8/2010, Working paper, 2010)We derive the optimal monetary policy in a sticky price model when private agents follow adaptive learning. We show that this slight departure from rationality has important implications for policy design. The central bank ... -
Optimal Portfolio Choice Under Decision-Based Model Combinations
(Working Papers;15/2014, Working paper, 2014)We propose a novel Bayesian model combination approach where the combination weights depend on the past forecasting performance of the individual models entering the combination through a utility-based objective function. ... -
Optimal variable bank capital requirements
(Staff Memo;9/2021, Working paper, 2021)The purpose of the “counter-cyclical capital buffer” (buffer) is to dampen procyclicality in the financial system, absorb capital losses and prevent a credit crunch during recessions. In this paper, a stylized analytical ... -
Optimality of Prompt Corrective Action in a Continuous - Time Model with Recapitalization Possibility
(Working Papers;28/2009, Working paper, 2009)Prompt Corrective Action (PCA) is a system of predetermined capital/asset ratios that trigger supervisory actions by a banking regulator. Our paper addresses the optimality of this regulation system by adapting a dynamic ... -
Optimum Currency Areas Under Inflation Targeting
(Working Papers;10/1999, Working paper, 1999)Several countries face the choice between targeting inflation independently or entering a monetary union that targets inflation. The present paper extends the theory of optimum currency areas to deal with this choice. In ... -
Order Flow Analysis of Exchange Rates
(Journal article, 2006)Norges Bank recently started to collect new foreign exchange statistics. These statistics provide an overview of which foreign currencies various market participants buy and sell against NOK. Participants’ purchases and ... -
Ordningene for pengepolitikken. Norges Bank i lys av litteratur og internasjonal praksis
(Journal article, 2007)De siste 20 årene har det skjedd store endringer i pengepolitikken internasjonalt og i Norge. Både økonomisk teori og historiske erfaringer ligger bak utviklingen fram til dagens ordninger. Selv om flere trekk er felles, ... -
Ordrestrømsanalyse av valutakurser
(Journal article, 2006)Artikkelen forklarer teorien som ligger til grunn for å bruke data fra verdipapirhandel i empiriske anvendelser. Det fokuseres på problemstillinger knyttet til valutamarkedet, men teorien har gyldighet også for andre ... -
Output Gap in the Norwegian Economy – Different Methodologies, Same Result?
(Journal article, 2000)Potential output is an estimate of the level of output that is consistent over time with the highest possible utilisation of resources in the economy with stable inflation. The output gap measures the difference between ... -
Output Gap, Monetary Policy Trade-Offs and Financial Frictions
(Working Papers;8/2017, Working paper, 2017)This paper investigates how the presence of financial frictions and financial shocks changes the definition and the estimated dynamics of the output gap in a New Keynesian model. Financial shocks absorb explanatory power ... -
Overconfidence, Monetary Policy Committees and Chairman Dominance
(Working Papers;17/2009, Working paper, 2009)We suggest that overconfidence among policymakers explains why formal decision power over monetary policy is given to committees, while much of the real power to set policy remains with central bank chairmen. Overconfidence ... -
Ownership Structure and Stock Market Liquidity
(Working Papers;6/2004, Working paper, 2004)This paper studies the relationship between company ownership and market liquidity using a panel regression approach. The data sample contains detailed transactions data from a limit order driven stock market, and a full ... -
Parallel Sequential Monte Carlo for Efficient Density Combination: The DeCo MATLAB Toolbox
(Working Papers;11/2014, Working paper, 2014)This paper presents the MATLAB package DeCo (density combination) which is based on the paper by Billio, Casarin, Ravazzolo, and van Dijk (2013) where a constructive Bayesian approach is presented for combining predictive ... -
Partially Censored Posterior for robust and efficient risk evaluation
(Working Paper;12/2019, Working paper, 2019)A novel approach to inference for a specific region of the predictive distribution is introduced. An important domain of application is accurate prediction of financial risk measures, where the area of interest is the left ... -
Payment Habits at Point of Sale. Different Methods of Calculating Use of Cards and Cash in Norway
(Staff Memo;6/2008, Working paper, 2008)We use different empirical methods for estimating the use of cash in Norway. One method gives an estimate of the “maximum” value of cash use at point of sale. A second estimates the minimum use of cash in the society ... -
Payment Systems – a Potential Source of Risk. The Need for Oversight and Supervision
(Journal article, 2007)Since the early 1990s, there has been increased attention on the risk banks incur through their role in the payment system. The primary focus has not been on the individual bank’s risk exposure but on the possibility of ... -
Peer effects and debt accumulation: Evidence from lottery winnings
(Working Paper;10/2021, Working paper, 2021)I estimate the effect of lottery winnings on peers' debt accumulation using administrative data from Norway. I identify neighbors of lottery winners, and estimate an average debt response of 2.1 percent of the lottery ... -
Peer Monitoring vs. Search Costs in the Interbank Market: Evidence from Payment Flow Data in Norway
(Working Paper;2/2021, Working paper, 2021)Bilateral payment flows between banks may provide private information about a borrowing bank’s liquidity position. This paper analyses whether private information on the bilateral payment flow of central bank reserves ... -
Pengepolitikk, konjunkturer og konkurranseevne
(Journal article, 2002)I det lange løp kan pengepolitikken verken påvirke produksjonen, sysselsettingen eller konkurranseevnen. Men gjennom å praktisere fleksibel inflasjonsstyring kan man oppnå en fornuftig avveining mellom variasjonen i inflasjon ...