Blar i Arbeidsnotater / Working Papers på tittel
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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, ... -
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 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 ... -
Bad News, Good News: Coverage and Response Asymmetries
(Working paper;8/2022, Working paper, 2022)We study the dynamic link between economic news coverage and the macroeconomy. We construct two measures of media coverage of bad and good unemployment figures based on three major US newspapers. Using nonlinear time series ... -
Bagehot for Beginners: The Making of Lending of Last Resort Operations in the Mid-19th Century
(Working Papers;22/2009, Working paper, 2009)In this paper we survey the development of lending of last resort operations in the mid-19th century. We identify and document critical dimensions of the extension of lending of last resort functions, and also develop ... -
Bank Regulation and Bank Crisis
(Working Papers;18/2009, Working paper, 2009)The Norwegian experiences of the past thirty years illustrate what we believe are two general tendencies in bank regulation. The first one is that a bank crisis will tend to focus regulators' minds and lead to stricter ... -
Banking Competition, Monitoring Incentives and Financial Stability
(Working Papers;16/2010, Working paper, 2010)This paper addresses the desirability of competition in banking industry. In a model where banks compete on both deposit and loan markets and where banks can use monitoring technology to control entrepreneurs' behavior, ... -
A bankruptcy probability model for assessing credit risk on corporate loans with automated variable selection
(Working paper;7/2022, Working paper, 2022)We propose an econometric model for predicting the share of bank debt held by bankrupt firms by combining a novel set of firm-level financial variables and macroeconomic indicators. Our firm-level data include payment ... -
Banks as Multioutput Oligopolies: An Empirical Evaluation of the Retail and Corporate Banking Markets
(Working Papers;10/1994, Working paper, 1994)The distinction between retail and corporate banking markets is of much importance in real life banking organizations. The two markets differ with respect to concentration, the importance of informational asymmetries, and ... -
Banks’ Buffer Capital: How Important Is Risk?
(Working Papers;11/2003, Working paper, 2003)Most banks hold a capital to asset ratio well above the required minimum defined by the present capital adequacy regulation (Basel I). Using bank-level panel data from Norway, important hypotheses concerning the determination ... -
Banks’ Optimal Implementation Strategies for a Risk Sensitive Regulatory Capital Rule: A Real Options and Signalling Approach
(Working Papers;12/2006, Working paper, 2006)I evaluate a bank's incentives to implement a risk sensitive regulatory capital rule and to invest in improved risk measurement. The decision making is analyzed within a real options framework where optimal policies are ... -
Bayesian Analysis of Boundary and Near-Boundary Evidence in Econometric Models with Reduced Rank
(Working Papers;11/2017, Working paper, 2017)Weak empirical evidence near and at the boundary of the parameter region is a predominant feature in econometric models. Examples are macroeconometric models with weak information on the number of stable relations, ... -
Bayesian Nonparametric Calibration and Combination of Predictive Distributions
(Working Papers;3/2015, Working paper, 2015)We introduce a Bayesian approach to predictive density calibration and combination that accounts for parameter uncertainty and model set incompleteness through the use of random calibration functionals and random combination ... -
Betalingssystemet – en kilde til risiko. Behovet for overvåking og tilsyn
(Journal article, 2007)Betalingssystemet er en viktig del av et lands finansielle infrastruktur. Velfungerende betalingssystemer gjør det mulig å gjennomføre pengeoverføringer på en sikker måte og til avtalt tid. Artikkelen beskriver Norges Banks ...