• Inflation Inertia and the Optimal Hybrid Inflation/Price-Level Target 

      Røisland, Øistein (Working Papers;4/2005, Working paper, 2005)
      A hybrid inflation/price-level target combines elements of both inflation and price-level targets. The paper derives a hybrid target within a new Keynesian model with inflation persistence due to price indexation. The ...
    • The Inflation Rate Disconnect Puzzle: On the International Component of Trend Inflation and the Flattening of the Phillips Curve 

      Ascari, Guido; Fosso, Luca (Working paper;17/2021, Working paper, 2021)
      Since 2000 U.S. inflation has remained both below target and silent to domestic slack and monetary interventions. A trend-cycle BVAR decomposition explores the role of imported intermediate goods in explaining the puzzling ...
    • Inflation Targeting Rules: History-Dependent or Forwarding-Looking? 

      Leitemo, Kai (Working Papers;10/2002, Working paper, 2002)
      This paper discusses the optimal use of inflation forecasts in an inflation targeting setting with reaction and implementation lags. It distinguishes between the optimality of history-dependence versus forward-lookingness ...
    • Information Sharing and Information Acquisition in Credit Markets 

      Karapetyan, Artashes; Stacescu, Bogdan (Working Papers;24/2010, Working paper, 2010)
      Since information asymmetries have been identified as an important source of bank profits, it may seem that the establishment of information sharing (e.g., introducing credit bureaus or public registers) will lead to lower ...
    • Information Sharing and Information Acquisition: Ownership and Coverage 

      Karapetyan, Artashes; Stacescu, Bogdan (Working Papers;23/2011, Working paper, 2011)
      We examine the conditions required for the existence of private credit bureaus, their ownership and coverage. Our model implies that bank consortia will most likely be preferred by banks, but that they will lead to restricted ...
    • Inn i den svarte boksen: Om kausalitet i makroøkonomiske modeller 

      Grønvik, Gunnvald (Arbeidsnotater;13/1994, Working paper, 1994)
      Temaet for dette arbeidet er modellteknisk og deterministisk og dreier seg om samspillet mellom variablene i makromodeller. Ved hjelp av begreper fra grafeteorien blir det gitt svar på spørsmål som Hvordan kan det kartlegges ...
    • Innvandreres tilknytning til arbeidsmarkedet 

      Akram, Q. Farooq (Arbeidsnotater;5/1998, Working paper, 1998)
      Kompetanseforskjeller mellom innvandrere og innfødte arbeidere kan være én mulig årsak til at de har ulik ledighets- og sysselsettingsmønster. Innvandrere står overfor en mer usikker avkastning på investeringer i humankapital ...
    • The interaction between macroprudential and monetary policies: The cases of Norway and Sweden 

      Cao, Jin; Dinger, Valeriya; Grodecka-Messi, Anna; Juelsrud, Ragnar; Zhang, Xin (Working Paper;8/2020, Working paper, 2020)
      To shed light on the interaction between macroprudential and monetary policies, we study the inward transmission of foreign monetary policy in conjunction with domestic macroprudential and monetary policies in Norway and ...
    • Interactions Between Eurozone and US Booms and Busts: A Bayesian Panel Markov-Switching VAR Model 

      Billio, Monica; Casarin, Roberto; Ravazzolo, Francesco; van Dijk, Herman K. (Working Papers;20/2013, Working paper, 2013)
      Interactions between the eurozone and US booms and busts and among major eurozone economies are analyzed by introducing a panel Markov-switching VAR model well suitable for a multi-country cyclical analysis. The model ...
    • Interbank Overnight Interest Rates - Gains from Systemic Importance 

      Akram, Q. Farooq; Christophersen, Casper (Working Papers;11/2010, Working paper, 2010)
      We study overnight interbank interest rates paid by banks in Norway over the period 2006-2009. We observe large variations in interest rates across banks and over time. During the financial crisis, the interest rates are ...
    • “Interest Rate Trap”, or: Why Does the Central Bank Keep the Policy Rate Too Low for Too Long Time? 

      Cao, Jin; Illing, Gerhard (Working Papers;12/2011, Working paper, 2011)
      This paper provides a framework for modeling the risk-taking channel of monetary policy, the mechanism how financial intermediaries’ incentives for liquidity transformation are affected by the central bank’s reaction to ...
    • The Investment Channel of Monetary Policy : Evidence from Norway 

      Cao, Jin; Hegna, Torje; Holm, Martin B.; Juelsrud, Ragnar; König, Tobias; Riiser, Mikkel (Working paper;5/2023, Working paper, 2023)
      We investigate the transmission of monetary policy to investment using Norwegian administrative data. We have two main findings. First, financially constrained firms are more responsive to monetary policy, but the effect ...
    • Investment Shocks and Macroeconomic Co-Movement 

      Furlanetto, Francesco; Natvik, Gisle James; Seneca, Martin (Working Papers;14/2011, Working paper, 2011)
      Recent studies find that shocks to the marginal efficiency of investment are a main driver of business cycles. Yet, they struggle to explain why consumption co-moves with real variables such as investment and output, which ...
    • Investment-Specific Technology Shocks and Consumption 

      Furlanetto, Francesco; Seneca, Martin (Working Papers;30/2010, Working paper, 2010)
      Current business cycle models systematically underestimate the correlation between consumption and investment. One reason for this failure is that a positive investment-specific technology shock generally induces a negative ...
    • Is Lumpy Investment Really Irrelevant for the Business Cycle? 

      Sveen, Tommy; Weinke, Lutz (Working Papers;6/2005, Working paper, 2005)
      Smoothness in aggregate capital accumulation is a necessary condition for New-Keynesian (NK) models to imply a quantitatively relevant monetary transmission mechanism (see, e.g., Woodford 2005). Can that aggregate smoothness ...
    • Is monetary policy always effective? Incomplete interest rate pass-through in a DSGE model 

      Binning, Andrew; Bjørnland, Hilde C.; Maih, Junior (Working Paper;22/2019, Working paper, 2019)
      We estimate a regime-switching DSGE model with a banking sector to explain incomplete and asymmetric interest rate pass-through, especially in the presence of a binding zero lower bound (ZLB) constraint. The model is ...
    • Is the Price Level in Norway Determined by Fiscal Policy? 

      Alstadheim, Ragna (Working Papers;5/2005, Working paper, 2005)
      The Norwegian public sector has net financial assets. The fiscal theory of price determination applies equally to Norway and economies with net public debt: If primary surpluses evolve independently of nominal debt (or ...
    • Joint Prediction Bands for Macroeconomic Risk Management 

      Akram, Q. Farooq; Binning, Andrew; Maih, Junior (Working Papers;7/2016, Working paper, 2016)
      In this paper we address the issue of assessing and communicating the joint probabilities implied by density forecasts from multivariate time series models. We focus our attention in three areas. First, we investigate a ...
    • Kan pengepolitikken påvirke koordineringsgraden i lønnsdannelsen? En empirisk analyse 

      Sparrman, Victoria (Arbeidsnotater;7/2002, Working paper, 2002)
      I økonomisk litteratur blir det hevdet at koordinering blant partene i lønnsdannelsen er ønskelig, fordi en slik løsning reduserer lønnspresset og følgelig arbeidsledigheten i økonomien. Modellen i Holden (2001) viser at ...
    • Kriterier for «gode» begrunnelser 

      Qvigstad, Jan F.; Schei, Tore (Working papers;6/2018, Working paper, 2018)
      I demokratiske samfunn utøver ulike institusjoner gjennom beslutninger viktig samfunnsmakt. Beslutningene kan rette seg mot enkeltindivider eller ha en mer generell samfunnsmessig virkning. Det er en selvfølge i dag at ...