Browsing Norges Banks publikasjonsserier / Norges Bank publication series by Title
Now showing items 741-760 of 1427
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Model Selection for Monetary Policy Analysis – Importance of Empirical Validity
(Working Papers;13/2006, Working paper, 2006)We investigate the importance of employing a valid model for monetary policy analysis. Specifically, we investigate the economic significance of differences in specification and empirical validity of models. We consider ... -
Model Specification and Inflation Forecast Uncertainty
(Working Papers;6/2000, Working paper, 2000)Three classes of inflation models are discussed: Standard Phillips curves, New Keynesian Phillips curves and Incomplete Competition models. Their relative merits in explaining and forecasting inflation are investigated ... -
Modell for analyse av kredittrisiko i foretakssektoren
(Journal article, 2001)Sentralt i vurderingen av bankenes samlede risiko er deres kredittrisiko overfor foretakssektoren. I analyser av bankenes kredittrisiko overfor foretakssektoren legges generelt både en makroøkonomisk og en bedriftsøkonomisk ... -
Modellberegninger av produksjonsgapet
(Staff Memo;4/2018, Working paper, 2018)I denne artikkelen dokumenteres et sett av modeller som Norges Bank benytter i vurderingen av produksjonsgapet. Modellene tar hensyn til utviklingen i sentrale konjunkturindikatorer som BNP, arbeidsledighet, inflasjon, ... -
Modellering av kredittrisiko i foretakssektoren - Videreutvikling av SEBRA-modellen
(Journal article, 2007)Norges Bank har siden 2001 brukt en empirisk modell, SEBRA-modellen, til å anslå sannsynligheter for konkurs i norske aksjeselskap. Modellen brukes også til å anslå bankenes forventede utlånstap til foretak og ulike næringer. ... -
Modelling Credit Risk in the Enterprise Sector – Further Development of the SEBRA Model
(Journal article, 2007)Since 2001, Norges Bank has used an empirical model, the SEBRA model2, to estimate bankruptcy probabilities for Norwegian limited companies. The model is also used to estimate banks’ expected losses on loans to enterprises ... -
Modelling Inflation in the Euro Area
(Working Papers;10/2004, Working paper, 2004)The paper presents an incomplete competition model (ICM), where inflation is determined jointly with unit labour cost growth. The ICM is estimated on data for the Euro area and evaluated against existing models, i.e. the ... -
Modelling Occasionally Binding Constraints Using Regime-Switching
(Working Papers;23/2017, Working paper, 2017)Occasionally binding constraints are part of the economic landscape: for instance recent experience with the global financial crisis has highlighted the gravity of the lower bound constraint on interest rates; mortgagors ... -
Modernisering og utkontraktering av Norges Banks oppgjørssystem
(Journal article, 2003)Norges Bank har med utkontraktering av systemet for oppgjør mellom bankene tatt et ytterligere skritt i retning av konsentrasjon om sine kjerneoppgaver. Utkontrakteringen forventes å redusere de samlede kostnadene for ... -
Monetary and Macroprudential Policy with Multi-Period Loans
(Working Papers;16/2014, Working paper, 2014)We study the implications of multi-period loans for monetary and macroprudential policy, considering several realistic modifications - variable vs. fixed loan rates, non-negativity constraint on newly granted loans, and ... -
Monetary Policy Analysis in Practice
(Staff Memo;11/2010, Working paper, 2010)Norges Bank is one of few central banks publishing an interest rate fore- cast. This paper discusses how we derive and communicate the interest rate forecast. To produce the forecasts, the Bank uses a medium-sized small ... -
Monetary Policy Analysis in Practice - a Conditional Forecasting Approach
(Staff Memo;8/2010, Working paper, 2010)In this paper we provide a broad outline of the forecasting and policy analysis system adopted at Norges Bank. -
Monetary Policy and Asset Prices: To Respond or Not?
(Working Papers;9/2005, Working paper, 2005)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 ... -
Monetary Policy and Exchange Rate Interactions in a Small Open Economy
(Working Papers;16/2005, Working paper, 2005)This paper analyses the transmission mechanisms of monetary policy in a small open economy like Norway through structural VARs, paying particular attention to the interdependence between the monetary policy stance and ... -
Monetary Policy and Exchange Rate Overshooting: Dornbusch Was Right After All
(Working Papers;9/2009, Working paper, 2009)Dornbusch’s exchange rate overshooting hypothesis is a central building block in international macroeconomics. Yet, empirical studies of monetary policy have typically found exchange rate effects that are inconsistent with ... -
Monetary Policy and Financial Stability in the Long Run
(Working Papers;21/2013, Working paper, 2013)Most theoretical central bank models use short horizons and focus on a single tradeoff. However, in reality, central banks play complex, long-horizon games and face more than one tradeoff. We account for these issues in a ... -
Monetary Policy and the Illusionary Exchange Rate Puzzle
(Working Papers;11/2005, Working paper, 2005)Dornbusch’s exchange rate overshooting hypothesis is a central building block in international macroeconomics. Yet, empirical studies of monetary policy have typically found exchange rate effects that are inconsistent with ... -
Monetary Policy and the Trade-Off Between Inflation and Output Variability
(Journal article, 2005)This article explores the consequences of various approaches to the conduct of monetary policy. A small, calibrated model of the Norwegian economy is used, which highlights the short-run trade-off between stabilising ... -
Monetary Policy Committees and Communication
(Staff Memo;2/2013, Working paper, 2013)A country has only one central bank. It is therefore logical to compare it with central banks of other countries. There is broad agreement on the objective of monetary policy – price stability – and on central bank ... -
Monetary Policy Decisions – Comparing Theory and "Inside" Information from MPC Members
(Working Papers;3/2013, Working paper, 2013)We analyze the influence of the Taylor rule on US monetary policy by estimating the policy preferences of the Fed within a DSGE framework. The policy preferences are represented by a standard loss function, extended with ...