Blar i Norges Banks publikasjonsserier / Norges Bank publication series på tittel

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    • A Test of Uncovered Interest Rate Parity for Ten European Countries Based on Bottstrapping and Panel Data Models 

      Bernhardsen, Tom (Working Papers;9/1997, Working paper, 1997)
      Based on both single country models and panel data models uncovered interest rate parity is tested for ten European countries relative to Germany by regressing exchange rate changes on interest rate differentials. The ...

    • A Transaction Data Study of the Forward Bias Puzzle 

      Breedon, Francis; Rime, Dagfinn; Vitale, Paolo (Working Papers;26/2010, Working paper, 2010)
      Using ten years of FX transactions data we demonstrate that a large share of the FX forward discount bias can be accounted for by order flow. A simple microstructure-based decomposition suggests that order flow creates a ...

    • Age Structure Effects and Consumption in Norway, 1968(3) – 1998(4) 

      Erlandsen, Solveig K. (Working Papers;1/2003, Working paper, 2003)
      In this paper the effects of a changing age distribution on aggregate consumption are analysed. This is done by estimating a Norwegian consumption function which controls for age structure effects. The model is estimated ...

    • Aggregate Bankruptcy Probabilities and Their Role in Explaining Banks’ Loan Losses 

      Andreeva, Olga (Working Papers;2/2004, Working paper, 2004)
      Increased competition forces banks to narrow lending margins and at the same time relaxed lending standards worsen the pool of borrowers. To preserve sound banking system it is important task to monitor credit risk as one ...

    • Aggregate density forecast of models using disaggregate data - A copula approach 

      Paulsen, Kenneth Sæterhagen; Fastbø, Tuva Marie; Ingebrigtsen, Tobias (Working paper;5/2022, Working paper, 2022)
      We propose a novel copula approach to producing density forecasts of economic aggregates combining models using disaggregate data. Our copula approach is more flexible compared to existing techniques, because it is applicable ...

    • Agreeing on Disagreement: Heterogeneity or Uncertainty? 

      ter Ellen, Saskia; Verschoor, Willem F.C.; Zwinkels, Remco C.J. (Working Papers;4/2016, Working paper, 2016)
      Disagreement is used as a measure of both investor heterogeneity and uncertainty. We study whether disagreement captures heterogeneity or uncertainty for the foreign exchange market. We do so by relating disagreement to ...

    • Aksjemarkedets mikrostruktur – betyr det noe? 

      Næs, Randi; Skjeltorp, Johannes A. (Journal article, 2006)
      Mikrostrukturmodeller skiller seg fra tradisjonelle finansmodeller ved å åpne for at lovlig informasjon om underliggende selskapsverdier kan være ulikt fordelt og analysert mellom markedsaktørene. Litteraturen på fagområdet ...

    • Alternative virkemidler i pengepolitikken - den nødvendige monetære økosirk 

      Bernhardsen, Tom; Kloster, Arne; Syrstad, Olav (Staff Memo;12/2016, Working paper, 2016)
      I dette notatet ser vi [...] nærmere på alternative virkemidler med særlig fokus på monetær økosirk. Vi drøfter først ulike pengemengdebegreper og hvordan penger skapes. Deretter ser vi nærmere på såkalte likviditetsstyr ...

    • An Analysis of Banks' Problem Loans 

      Berge, Tor Oddvar; Boye, Katrine Godding (Journal article, 2007)
      In this analysis, we look at the macroeconomic factors which function as driving forces behind developments in banks’ problem loans. Problem loans include non-performing loans and other particularly doubtful loans. Since ...

    • An Analysis of Financial Ratios for the Oslo Stock Exchange 

      Hillestad, Ole-Christian (Journal article, 2007)
      Share prices are driven by companies’ operations, funding and the risk premium required by investors. This article examines financial ratios that may reflect these three variables for the Oslo Stock Exchange in the period ...

    • An Equilibrium Model of Credit Rating Agencies 

      Holden, Steinar; Natvik, Gisle James; Vigier, Adrien (Working Papers;23/2012, Working paper, 2012)
      We develop a model of credit rating agencies (CRAs) based on reputation concerns. Ratings affect investors' choice and, thereby, also issuers' access to funding and default risk. We show that - in equilibrium - the ...

    • An historical perspective on financial stability and monetary policy regimes : A case for caution in central banks current obsession with financial stability 

      Bordo, Michael D. (Working papers;5/2018, Working paper, 2018)
      The global financial crisis (GFC) of 2007-2008 led to a call for central banks to elevate their financial stability mandate to the same level as their price stability mandate. It also led to a call for central banks to use ...

    • Analyse av auksjoner i statskasseveksler i perioden fra oktober 2000 til utgangen av 2004 

      Jacobsen, Thomas Svane (Journal article, 2005)
      I gjennomsnitt var statens lånerente 11 rentepunkter under sammenlignbar rente i pengemarkedet i perioden fra oktober 2000 og ut 2004, og bare i fire av sytti tilfeller var den høyere enn pengemarkedsrenten. Estimering av ...

    • Analyser av effekter av boliglånsforskriften 

      Borchgrevink, Henrik; Torstensen, Kjersti Næss (Aktuell Kommentar;1/2018, Others, 2018)
      Denne aktuelle kommentaren analyserer effekter av boliglånsforskriften som kom i 2017. Analysene er foreløpige fordi ligningstall for 2017 ennå ikke foreligger. Krav til utlån med pant i bolig ble forskriftsfestet i 2015 ...

    • Analyses of Effects of the Residential Mortgage Loan Regulation 

      Borchgrevink, Henrik; Torstensen, Kjersti Næss (Economic Commentaries;1/2018, Others, 2018)
      This article analyses the effects of the regulation on residential mortgage loans issued in 2017. The analyses are preliminary as tax data for 2017 are not yet available. Residential mortgage loan requirements were laid ...

    • An anatomy of monopsony : Search frictions, amenities and bargaining in concentrated markets 

      Berger, David; Herkenhoff, Kyle; Kostol, Andreas R.; Mongey, Simon (Working paper;10/2023, Working paper, 2023)
      We contribute a theory in which three channels interact to determine the degree of monopsony power and therefore the markdown of a worker’s spot wage relative to her marginal product: (1) heterogeneity in worker-firm-specific ...

    • Announcements of Interest Rate Forecasts: Do Policymakers Stick to Them? 

      Mirkov, Nikola; Natvik, Gisle James (Working Papers;11/2013, Working paper, 2013)
      If central banks value the ex-post accuracy of their forecasts, previously announced interest rate paths might affect the current policy rate. We explore whether this "forecast adherence" has influenced the monetary policies ...

    • Anslag på bankenes tap på utlån til ikke-finansielle foretak 

      Hjelseth, Ida Nervik; Saxegaard, Elif Arbatli; Solheim, Haakon; Vatne, Bjørn H. (Staff Memo;10/2020, Working paper, 2020)
      Lån til ikke-finansielle foretak er den største kilden til tap i bankene. Analyser av bankenes utlånstap til foretak er derfor viktig i vurderingen av finansiell stabilitet. I dette memoet presenterer vi Norges Banks ...

    • Applying Flexible Parameter Restrictions in Markov-Switching Vector Autoregression Models 

      Binning, Andrew; Maih, Junior (Working Papers;17/2015, Working paper, 2015)
      We present a new method for imposing parameter restrictions in Markov-Switching Vector Autoregression (MS-VAR) models. Our method is more flexible than competing methodologies and easily handles a range of parameter ...

    • Arbeidsinnvandring og lønn 

      Nordbø, Einar W. (Aktuell Kommentar;5/2013, Others, 2013)
      Siden EU-utvidelsen i 2004 har Norge opplevd en sterk tilstrømning av utenlandsk arbeidskraft. I denne kommentaren diskuteres det hvilken betydning dette kan ha for lønnsutviklingen. Bruken av utenlandsk arbeidskraft har ...