Now showing items 160-179 of 462

    • Getting a Foot on the Housing Ladder: The Role of Parents in Giving a Leg-Up 

      Halvorsen, Elin; Lindquist, Kjersti-Gro (Working Papers;19/2017, Working paper, 2017)
      In this paper we question whether parental resources are important for first-time buyers? We find a nuanced set of results. First, when parents help out financially, it clearly increases the probability of entering the ...
    • Global and Regional Business Cycles. Shocks and Propagations 

      Thorsrud, Leif Anders (Working Papers;8/2013, Working paper, 2013)
      We study the synchronization of real and nominal variables across four different regions of the world, Asia, Europe, North and South America, covering 32 different countries. Employing a FAVAR framework, we distinguish ...
    • Government Spending and the Taylor Principle 

      Natvik, Gisle James (Working Papers;11/2006, Working paper, 2006)
      This paper explores how government size affects the scope for equilibrium indeterminacy in a New Keynesian economy where part of the population live hand-to-mouth. I find that in this framework, a larger public sector may ...
    • Government Spending Shocks and Rule-Of-Thumb Consumers: The Role of Steady State Inequality 

      Natvik, Gisle James (Working Papers;14/2010, Working paper, 2010)
      Galí, López-Salido, and Vallés (2007) suggest that because part of the population follow a rule-of-thumb by which they spend their entire disposable income each period, private consumption responds positively to deficit-financed ...
    • Granular credit risk 

      Galaasen, Sigurd; Jamilov, Rustam; Rey, Hélène; Juelsrud, Ragnar (Working Paper;15/2020, Working paper, 2020)
      What is the impact of granular credit risk on banks and on the economy? We provide the first causal identification of single-name counterparty exposure risk in bank portfolios by applying a new empirical approach on an ...
    • Has the Fed Responded to House and Stock Prices? : a Time-Varying Analysis 

      Aastveit, Knut Are; Furlanetto, Francesco; Loria, Francesca (Working Papers;1/2017, Working paper, 2017)
      In this paper we use a structural VAR model with time-varying parameters and stochastic volatility to investigate whether the Federal Reserve has responded systematically to asset prices and whether this response has changed ...
    • Have Standard VARs Remained Stable Since the Crisis? 

      Aastveit, Knut Are; Carriero, Andrea; Clark, Todd E.; Marcellino, Massimiliano (Working Papers;13/2014, Working paper, 2014)
      Small or medium-scale VARs are commonly used in applied macroeconomics for forecasting and evaluating the shock transmission mechanism. This requires the VAR parameters to be stable over the evaluation and forecast sample, ...
    • Heterogeneous Beliefs and Asset Price Dynamics: A Survey of Recent Evidence 

      Verschoor, Willem F.C.; ter Ellen, Saskia (Working Papers;22/2017, Working paper, 2017)
      This paper reviews the empirical literature on heterogeneous beliefs and asset price dynamics that challenges the traditional rational agent framework. Emphasis is given to the validation and estimation of (dynamic) ...
    • House Prices in Norway 1819–1989 

      Eitrheim, Øyvind; Erlandsen, Solveig K. (Working Papers;21/2004, Working paper, 2004)
      Annual house price indices for four Norwegian cities are presented for the period from 1819 to 1989. The indices are constructed on the basis of nominal housing transaction prices compiled from the real property registers ...
    • House Prices, Credit and the Effect of Monetary Policy in Norway: Evidence from Structural VAR Models 

      Robstad, Ørjan (Working Papers;5/2014, Working paper, 2014)
      This paper investigates the responses of house prices and household credit to monetary policy shocks in Norway, using Bayesian structural VAR models. I find that the effect of a monetary policy shock on house prices is ...
    • House Prices, Credit Growth, and Excess Volatility: Implications for Monetary and Macroprudential Policy 

      Gelain, Paolo; Lansing, Kevin J.; Mendicino, Caterina (Working Papers;8/2012, Working paper, 2012)
      Progress on the question of whether policymakers should respond directly to financial variables requires a realistic economic model that captures the links between asset prices, credit expansion, and real economic activity. ...
    • House Prices, Expectations, and Time-Varying Fundamentals 

      Gelain, Paolo; Lansing, Kevin J. (Working Papers;5/2013, Working paper, 2013)
      We investigate the behavior of the equilibrium price-rent ratio for housing in a simple Lucas-type asset pricing model. We allow for time-varying risk aversion (via external habit formation) and time-varying persistence ...
    • Household Leverage and Labor Market Outcomes : Evidence from a Macroprudential Mortgage Restriction 

      Kabaş, Gazi; Roszbach, Kasper (Working paper;14/2021, Working paper, 2021)
      Does household leverage matter for worker job search, matching in the labor market, and wages? Theoretically, household leverage can have opposing effects on the labor market through debt-overhang and liquidity constraint ...
    • How broadband internet affects labor market matching 

      Bhuller, Manudeep; Kostøl, Andreas R.; Vigtel, Trond C. (Working Paper;1/2020, Working paper, 2020)
      How the internet affects job matching is not well understood due to a lack of data on job vacancies and quasi-experimental variation in internet use. This paper helps fill this gap using plausibly exogenous roll-out of ...
    • How Do Banks’ Funding Costs Affect Interest Margins? 

      Raknerud, Arvid; Vatne, Bjørn Helge; Rakkestad, Ketil Johan (Working Papers;9/2011, Working paper, 2011)
      We use a dynamic factor model and a detailed panel data set with quarterly accounts data on all Norwegian banks to study the effects of banks’ funding costs on their retail rates. Banks’ funds are categorized into two ...
    • How does monetary policy affect household indebtedness? 

      Fagereng, Andreas; Gulbrandsen, Magnus A. H.; Holm, Martin B.; Natvik, Gisle J. (Working Paper;5/2021, Working paper, 2021)
      Households’ debt-to-income ratios change due to (a) primary deficits or (b) "Fisher effects" from interest costs, income growth, and inflation. With Norwegian micro data, we estimate how monetary policy affects household ...
    • How Does Monetary Policy Respond to Exchange Rate Movements? New International Evidence 

      Bjørnland, Hilde C.; Halvorsen, Jørn Inge (Working Papers;15/2008, Working paper, 2008)
      This paper analyzes how monetary policy responds to exchange rate movements in open economies, paying particular attention to the two-way interaction between monetary policy and exchange rate movements. We address this ...
    • How New Keynesian Is the US Phillips Curve? 

      Alstadheim, Ragna (Working Papers;25/2013, Working paper, 2013)
      I provide a generalization of Calvo price setting, to include non-overlapping contracts as a special case and embed this in a small DSGE model. The resulting Generalized Phillips Curve (GPC) nests New-Keynesian and ...
    • Human vs. Machine: Disposition Effect among Algorithmic and Human Day Traders 

      Liaudinskas, Karolis (Working paper;6/2022, Working paper, 2022)
      This paper studies whether and why algorithmic traders exhibit one of the most broadlydocumented behavioral puzzles – the disposition effect. We use trade data from the NASDAQ Copenhagen Stock Exchange merged with the ...
    • Hvilke faktorer driver kursutviklingen på Oslo Børs? 

      Næs, Randi; Skjeltorp, Johannes A.; Ødegaard, Bernt Arne (Working Papers;8/2007, Working paper, 2007)
      I denne rapporten analyserer vi avkastningsmønstret på Oslo Børs over perioden 1980- 2006. Formålet med rapporten er å analysere drivkreftene bak kursutviklingen i det norske aksjemarkedet. Et viktig siktemål med analysen ...