• News-Driven Inflation Expectations and Information Rigidities 

      Larsen, Vegard Høghaug; Thorsrud, Leif Anders; Zhulanova, Julia (Working Paper;5/2019, Working paper, 2019)
      We investigate the role played by the media in the expectations formation process of households. Using a novel news-topic-based approach we show that news types the media choose to report on, e.g., fiscal policy, health, ...
    • NIBOR - a Norwegian Interest Rate? 

      Syrstad, Olav; Kloster, Arne; Bernhardsen, Tom (Economic Commentaries;9/2014, Others, 2014)
      Norges Bank has in various contexts pointed out that today’s NIBOR construction has clear weaknesses. The reasons for this view are presented in a letter to Finanstilsynet (Financial Supervisory Authority of Norway) of 26 ...
    • NIBOR - en norsk rente? 

      Syrstad, Olav; Kloster, Arne; Bernhardsen, Tom (Aktuell Kommentar;9/2014, Others, 2014)
      Norges Bank har i flere sammenhenger pekt på at dagens NIBOR-konstruksjon har klare svakheter. Begrunnelsen for dette synet er presentert i brev til Finanstilsynet 26. mai 2014, Norges Bank Memo 2/2014 («Svakheter ved ...
    • Nibor, Libor and Euribor – all IBORs, but different 

      Kloster, Arne; Syrstad, Olav (Staff Memo;2/2019, Working paper, 2019)
      This memo takes a closer look at what lays behind different benchmark interest rates. Particular emphasis is put on how the different practices for quotation can explain why Nibor’s risk premium has on average been higher ...
    • Non-Linear Dynamics in Output, Real Exchange Rates and Real Money Balances: Norway, 1830-2003 

      Akram, Q. Farooq; Eitrheim, Øyvind; Sarno, Lucio (Working Papers;2/2005, Working paper, 2005)
      We characterise the behaviour of Norwegian output, the real exchange rate and real money balances over a period of almost two centuries. The empirical analysis is based on a new annual data set that has recently been ...
    • Non-standard errors 

      Menkveld, Albert J.; Ter Ellen, Saskia; Wika, Hans Christian (Working paper;13/2021, Working paper, 2021)
      In statistics, samples are drawn from a population in a datagenerating process (DGP). Standard errors measure the uncertainty in sample estimates of population parameters. In science, evidence is generated to test hypotheses ...
    • Nonlinear transmission of financial shocks: Some new evidence 

      Forni, Mario; Gambetti, Luca; Maffei-Faccioli, Nicolò; Sala, Luca (Working paper;3/2022, Working paper, 2022)
      Financial shocks generate a protracted and quantitatively important effect on real economic activity and financial markets only if the shocks are both negative and large. Otherwise, their role is quite modest. Financial ...
    • Nonlinearities in the Relationship Between Oil Price Changes and Movements in the Norwegian Krone 

      ter Ellen, Saskia (Staff Memo;18/2016, Working paper, 2016)
      Anecdotal evidence as well as previous empirical analysis indicates that the relation between oil price changes and movements in the Norwegian krone is not stable over time. We can observe that there is no or only a weakly ...
    • Noregs Bank. Grunntrekk i administrasjon, oppgåver og historie 

      Borlaug, Egil; Wammer, Turid (Staff Memo;9/2009, Working paper, 2009)
      I 1997 startet Dokumentasjonsseksjonens prosjekt ”Avlevering til arkivverket”. Norges Banks arkiver fra 1817 og fram til vår tid er blitt ordnet, registrert og klargjort for avlevering. Historiker Egil Borlaug ble ansatt ...
    • Norges Bank 1999-2010. Styring og omstillinger 

      Bøhn, Harald (Staff Memo;31/2012, Working paper, 2012)
      I perioden hvor Svein Gjedrem var sentralbanksjef ble det gjennomført omfattende omstillinger i Norges Bank. Forut for skiftet av sentralbanksjef i 1999 var Norges Bank en organisasjon med 1150 ansatte og med 12 ...
    • Norges Bank 1999-2010: Governance and Structural Reforms 

      Bøhn, Harald (Working Papers;16/2012, Working paper, 2012)
      In 1999 Norges Bank employed 1150 persons and had 12 regional branches located in various cities across the country. In 2010, the regional branches had all been closed and the traditional central bank staff had been reduced ...
    • Norges Bank Output Gap Estimates: Forecasting Properties, Reliability and Cyclical Sensitivity 

      Furlanetto, Francesco; Hagelund, Kåre; Hansen, Frank; Robstad, Ørjan (Working Paper;7/2020, Working paper, 2020)
      This paper documents the suite of models used by Norges Bank to estimate the output gap. The models are estimated using data on GDP, unemployment, inflation, wages, investment, house prices and credit. We evaluate the ...
    • Norges Bank's liquidity instruments 

      Kilen, John E.; Thorstad, Håvard (Journal article, 1999)
      With effect from 1 September 1999, Norges Bank introduced a collateral requirement for fixedrate loans. This is in line with Norges Bank’s policy of securing its loans to the banking sector. This article starts with an ...
    • Norges Bank's Liquidity Instruments 

      Kilen, John E.; Thorstad, Håvard (Journal article, 1999)
      With effect from 1 September 1999, Norges Bank introduced a collateral requirement for fixed-rate loans. This is in line with Norges Bank’s policy of securing its loans to the banking sector. This article starts with an ...
    • Norges Bank's Management of Cash Inventories 

      Riiser, Magdalena D.; Vatne, Bjørn Helge (Journal article, 2006)
      Household debt in Norway has increased substantially since the 1980s. This article uses microdata to describe developments in household debt, income and financial assets from 1986 to 2003. Our findings show that an increase ...
    • Norges Bank's Management of Cash Inventories 

      Aastveit, Knut Are; Kjørstad, Thomas (Journal article, 2006)
      In order to fulfil its obligations regarding the supply of notes and coins, Norges Bank needs to hold cash inventories. The level of inventories must be considered with regard to ordinary and extraordinary circumstances. ...
    • Norges Bank's Oversight and Supervision of the Payment System 

      Ukjent forfatter (Journal article, 2002)
      The Norges Bank Act from 1985 gave Norges Bank responsibility for promoting an efficient payment system. In keeping with the increased focus on risk in the payment system, both nationally and internationally, Norges Bank’s ...
    • Norges Bank's Regional Network 

      Kallum, Jan-Reinert; Sjåtil, Maja Bjørnstad; Haugland, Kjersti (Journal article, 2005)
      The regional network was primarily established to provide up-to-date information about the economic situation and the outlook ahead through direct contact with enterprises. Regular communication with local contacts in ...
    • Norges Bank's Role in Cash Distribution 

      Eklund, Trond; Veggum, Leif; Solberg, Ragnhild L. (Journal article, 2005)
      During the past few years, Norges Bank has made major changes in its cash operations. These changes have been designed to adjust and clarify the division of responsibility between the various parties involved in cash ...
    • Norges Bank's Role in the Event of Liquidity Crises in the Financial Sector 

      Gerdrup, Karsten R. (Journal article, 2005)
      Central banks have traditionally had a role as lender of last resort (LLR). This means that the central bank can supply extraordinary liquidity to an individual bank or the banking system when demand for liquidity cannot ...