Penger og Kreditt / Economic Bulletin: Recent submissions
Now showing items 181-200 of 473
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Norges Bank's Role in the Event of Liquidity Crises in the Financial Sector
(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 ... -
Indicators for Underlying Inflation in Norway
(Journal article, 2006)A central bank that is to steer inflation ahead in time seeks to exclude temporary price variations when setting policy rates. At a given point in time, it is not that easy to determine which price changes are permanent ... -
The Output Gap in Norway - a Comparison of Different Methods
(Journal article, 2005)Are pressures in the economy strong or subdued? The answer to this question is important to a central bank operating an inflation-targeting monetary policy regime, because the degree of pressure in the economy can provide ... -
Evaluation of Norges Bank's Projections for 2005
(Journal article, 2006)In 2005, the rise in consumer prices adjusted for taxes and excluding energy products (CPI-ATE) was noticeably lower than projected in 2004. The deviation between the projections and actual developments is primarily ... -
How Large Are the Financial Margins of Norwegian Households? an Analysis of Micro Data for the Period 1987–2004
(Journal article, 2006)In this article, financial margins in Norwegian households are calculated using micro data for the period 1987 – 2004. Financial margins are defined as household liquid assets after borrowing costs and ordinary living ... -
What Influences the Number of Bankruptcies?
(Journal article, 2005)After having remained relatively stable from the mid-1990s, the number of bankruptcies rose sharply in 2002 and 2003, but then fell again last year and in the first six months of 2005. Using an empirical model, we analyse ... -
Collateral for Loans from Norges Bank - New Rules
(Journal article, 2006)Norges Bank extends loans to banks against collateral in the form of securities. These loans are provided in connection with payment settlement and the implementation of monetary policy. Since the bond market in Norway is ... -
Norges Bank's Management of Cash Inventories
(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. ... -
House Prices, Equity Prices, Investment and Credit - What Do They Tell Us About Banking Crises? a Historical Analysis Based on Norwegian Data
(Journal article, 2005)In recent years, many countries have experienced a sharp rise in house prices and household credit. Many have expressed concern that this development is not sustainable over time and that it may lead to financial imbalances. ... -
A Retrospective on the Introduction of Prices in the Norwegian Payment System
(Journal article, 2006)During the 1980s, Norwegian banks introduced direct pricing of customers’ use of payment services. Direct pricing of payment services is relatively uncommon in other countries and Norway thus stands out in relation to the ... -
Coin Issue to Mark Ibsen Year
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Forecasting in Norges Bank
(Journal article, 2006)Norges Bank’s forecasts of economic developments form an important part of the basis for monetary policy. The projections of economic variables and Norges Bank’s interest rate forecast are interdependent. Current information ... -
The IMF's Stress Testing of the Norwegian Financial Sector
(Journal article, 2005)Following a thorough examination of the Norwegian financial system, the IMF concluded in summer 2005 that the system is sound and well managed. Shorter-term vulnerabilities are low. This conclusion is based partly on the ... -
Benefits from Securities Markets and Reforms in Norwegian Securities Legislation
(Journal article, 2006)This article discusses the ways in which efficient securities markets benefit society, how Norwegian securities market legislation is being modernised to be in line with European standards, and in addition issues related ... -
Norges Bank's Regional Network
(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 ... -
Currency Hedging in Norwegian Non-Financial Firms
(Journal article, 2005)Fluctuations in global foreign exchange markets in recent years have again shown that many Norwegian enterprises are sensitive to changes in exchange rates, in both a positive and negative sense. The question naturally ... -
Evaluation of Norges Bank's Projections for 2004
(Journal article, 2005)The assessments of capacity utilisation in the Norwegian economy in 2004, measured by estimates of the output gap, changed only moderately through 2003 and 2004. For the past year, Norges Bank has projected that the Norwegian ... -
Financial Variables and Developments in the Real Economy
(Journal article, 2006)This article examines whether financial variables are useful as leading indicators of the output gap and mainland GDP growth. Financial variables may be leading indicators either because they (a) are priced on the basis ... -
Final Pair of Coins to Mark the Centennial Celebration 1905 – 2005
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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 ...