Blar i Norges Banks publikasjonsserier / Norges Bank publication series på tittel
Viser treff 47-66 av 1427
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Applying Flexible Parameter Restrictions in Markov-Switching Vector Autoregression Models
(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
(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 ... -
Arbitrage in the Foreign Exchange Market: Turning on the Microscope
(Working Papers;12/2005, Working paper, 2005)This paper provides real-time evidence on the frequency, size and duration of arbitrage opportunities and deviations from the law of one price (LOP) in the foreign exchange market. We investigate deviations from the covered ... -
Are Bank Lending Shocks Important for Economic Fluctuations?
(Working Papers;27/2009, Working paper, 2009)We analyze the importance of bank lending shocks on real activity in Norway and the UK, using structural VARs and based on quarterly data for the past 21 years. The VARs are identified using a combination of sign and ... -
Are Household Debt-To-Income Ratios Too High?
(Economic Commentaries;4/2009, Others, 2009)Household debt growth has been high over the past 8‐9 years and it has been far higher than growth in disposable income. As a result, the household interest burden has risen sharply and is now at a historically high level ... -
Are Real Wages Rigid Downwards?
(Working Papers;1/2007, Working paper, 2007)This paper explores the existence of downward real wage rigidity (DRWR) in 19 OECD countries, over the period 1973–1999, using data for hourly nominal earnings at industry level. Based on a nonparametric statistical method, ... -
Are Unexpected Loan Losses Lower for Small Enterprises Than for Large Enterprises?
(Journal article, 2005)Unexpected loan losses have been lower for loans to small- and medium-sized enterprises (SMEs) than for those to large enterprises in about ⅔ of the period reviewed in this article. In the remaining period, including two ... -
Aspects of the International Monetary System : International Reserves and International Exchange Rate Regimes
(Staff Memo;9/2010, Working paper, 2010)The global economy has in recent years been characterized among other things by large imbalances between countries and regions, capital flow volatility, and large reserve accumulation by several countries, in some cases ... -
Assessing Estimates of the Exchange Rate Pass-Through
(Working Papers;12/2007, Working paper, 2007)We investigate optimal horizons for targeting inflation in response to different shocks and their properties under alternative preferences of an inflation-targeting central bank. Our analysis is based on a well specified ... -
Assessment of Credit Risk in the Norwegian Business Sector
(Working Papers;9/1999, Working paper, 1999)In this thesis, I present a model that measures credit risk in the Norwegian business sector, using firm bankruptcy as proxy for credit risk. Probit analysis, a discrete response model, is applied to micro level financial ... -
Asset Prices, Investment and Credit – What Do They Tell Us About Financial Vulnerability?
(Economic Commentaries;6/2008, Others, 2008)In this commentary we examine whether a number of historical indicators can predict financial vulnerability over the past 150 years in Norway. Using a Hodrick-Prescott filter, we estimate the gap between actual observations ... -
Asset Prices, Investment, Credit and Financial Vulnerability
(Economic Commentaries;4/2010, Others, 2010)Previous analyses indicate that macroeconomic gap indicators for house prices, equity prices, investment and credit are useful in predicting periods of financial instability in Norway. The indicators show, with few exceptions, ... -
Asset Prices, Investment, Credit and Financial Vulnerability. An Analysis Using Quarterly Figures
(Economic Commentaries;6/2012, Others, 2012)Previous analyses using annual figures for a period of over 150 years show that gap indicators of house prices, equity prices, investment and credit are useful in predicting periods of financial instability in Norway. ... -
Asset Pricing with Concentrated Ownership of Capital
(Working Papers;18/2011, Working paper, 2011)This paper investigates how concentrated ownership of capital influences the pricing of risky assets in a production economy. The model is designed to approximate the skewed distribution of wealth and income in U.S. data. ... -
Asset purchases as a remedy for the original sin redux
(Working Paper;8/2021, Working paper, 2021)We provide a theory on how a wider foreign lending base of local-currency sovereign debt may lead to destabilising effects (the original sin redux). Bond sell-offs by foreigners induce domestic banks to fund the government, ... -
Asset Returns, News Topics, and Media Effects
(Working Papers;17/2017, Working paper, 2017)We decompose the textual data in a daily Norwegian business newspaper into news topics and investigate their predictive and causal role for asset prices. Our three main findings are: (1) a one unit innovation in the news ... -
Asymmetric effects of monetary policy in regional housing markets
(Working paper;25/2017, Working paper, 2017)The responsiveness of house prices to monetary policy shocks depends both on the nature of the shock – expansionary versus contractionary – and on city-specific housing supply elasticities. We test and find supporting ... -
Asymmetric Information in the Interbank Foreign Exchange Market
(Working Papers;25/2008, Working paper, 2008)This paper provides evidence of private information in the interdealer foreign exchange market. In so doing it provides support for the hypothesis that information is an important reason for the strong positive correlation ... -
Asymmetric monetary policy rules for the euro area and the US
(Working Paper;7/2021, Working paper, 2021)We analyse the implications of asymmetric monetary policy rules by estimating Markovswitching DSGE models for the euro area (EA) and the US. The estimations show that until mid-2014 the ECB's response to inflation was more ... -
Avveininger i pengepolitikken
(Journal article, 2004)Fleksibel inflasjonsstyring innebærer at sentralbanken på kort sikt foretar en avveining mellom prisstabilitet og realøkonomisk stabilitet. En toårshorisont for oppnåelse av inflasjonsmålet gir normalt en hensiktsmessig ...