Now showing items 340-359 of 462

    • Quantifying time-varying forecast uncertainty and risk for the real price of oil 

      Aastveit, Knut Are; Cross, Jamie L.; van Dijk, Herman K. (Working Paper;3/2021, Working paper, 2021)
      We propose a novel and numerically efficient quantification approach to forecast uncertainty of the real price of oil using a combination of probabilistic individual model forecasts. Our combination method extends earlier ...
    • R&D Heterogeneity and Its Implications for Growth 

      Galaasen, Sigurd Mølster; Irarrazabal, Alfonso (Working Papers;15/2016, Working paper, 2016)
      This paper quantifies the determinants of heterogeneity in R&D investment and its implications for growth. Using a panel of Norwegian manufacturing firms we document a negative correlation between R&D intensity and firm ...
    • RBCs and DSGEs: The Computational Approach to Business Cycle Theory and Evidence 

      Karagedikli, Özer; Matheson, Troy; Smith, Christie; Vahey, Shaun P. (Working Papers;17/2008, Working paper, 2008)
      Real Business Cycle (RBC) and Dynamic Stochastic General Equilibrium (DSGE) methods have become essential components of the macroeconomist’s toolkit. This literature review stresses recently developed techniques for ...
    • Real and Financial Tradeoffs in Non-Listed Firms: Cash Flow Sensitivities and How They Change with Shocks to Firms' Main-Bank 

      Ostergaard, Charlotte; Sasson, Amir; Sørensen, Bent E. (Working Papers;27/2010, Working paper, 2010)
      We study how non-listed firms trade off financial, real, and distributive uses of cash. We show that firms' marginal value of cash (MVC) affects the mix of external and internal finance used to absorb fluctuations in cash ...
    • Real-Time Inflation Forecasting in a Changing World 

      Groen, Jan J. J.; Paap, Richard; Ravazzolo, Francesco (Working Papers;16/2009, Working paper, 2009)
      This paper revisits inflation forecasting using reduced form Phillips curve forecasts, i.e., inflation forecasts using activity and expectations variables. We propose a Phillips curve-type model that results from averaging ...
    • Regional US House Price Formation: One Model Fits All? 

      Anundsen, André K.; Heebøll, Christian (Working Papers;8/2014, Working paper, 2014)
      Does a "one model fits all" approach apply to the econometric modeling of regional house price determination? To answer this question, we utilize a panel of 100 US Metropolitan Statistical Areas over the period 1980q1-2010q2. ...
    • Rente og inflasjon 

      Bårdsen, Gunnar; Nymoen, Ragnar (Arbeidsnotater;2/2002, Working paper, 2002)
      Vi kartlegger årsakssammenhengen mellom pengemarkedsrenten og inflasjon gjennom en makroøkonometrisk modell. Modellen belyser også hvilke typer sjokk en har størst mulighet til å nøytralisere ved hjelp av moderate ...
    • Residential Investment and Recession Predictability 

      Aastveit, Knut Are; Anundsen, André K.; Herstad, Eyo I. (Working Papers;24/2017, Working paper, 2017)
      We assess the importance of residential investment in predicting economic recessions for an unbalanced panel of 12 OECD countries over the period 1960Q1-2014Q4. Our approach is to estimate various probit models with different ...
    • Resolving the Financial Crisis: Are We Heeding the Lessons from the Nordics? 

      Borio, Claudio; Vale, Bent; von Peter, Goetz (Working Papers;17/2010, Working paper, 2010)
      How does the management and resolution of the current crisis compare with the response of the Nordic countries in the early 1990s, widely regarded as exemplary? We argue that, while intervention has been prompter, the ...
    • Revealing the Preferences of the US Federal Reserve 

      Ilbas, Pelin (Working Papers;21/2008, Working paper, 2008)
      We use Bayesian methods to estimate the preferences of the US Federal Reserve by assuming that monetary policy is performed optimally under commitment since the mid-sixties. For this purpose, we distinguish between three ...
    • Revisiting the Importance of Non-Tradable Goods’ Prices in Cyclical Real Exchange Rate Fluctuations 

      Bache, Ida Wolden; Næss, Kjersti; Sveen, Tommy (Working Papers;3/2009, Working paper, 2009)
      In an influential paper Engel (1999. Accounting for U.S. Real Exchange Rate Changes, Journal of Political Economy 107, 507-538) argues that essentially all the fluctuations in the real exchange rate can be attributed to ...
    • Risiko i det norske betalingssystemet 

      Bakke, Bjørn; Enge, Asbjørn (Arbeidsnotater;2/2003, Working paper, 2003)
      Risikoen i betalingssystemet er i stor grad knyttet til bankenes eksponeringer mot hverandre i betalingsoppgjørene. Blir disse eksponeringene for store, kan bankene bli ute av stand til å innfri sine forpliktelser om ikke ...
    • Risiko i finanskonsern 

      Øverli, Frode; Øwre, Grete (Arbeidsnotater;16/2000, Working paper, 2000)
      Dette notatet omtaler endringen i risiko som skjer når en tradisjonell bank, gjennom å danne et finanskonsern, utvider virksomheten sin til å omfatte flere typer inn- og utlånsvirksomhet, handel i valuta og verdipapirer ...
    • Risk Taking in Selection Contests 

      Hvide, Hans K.; Kristiansen, Eirik Gaard (Working Papers;2/1999, Working paper, 1999)
      We study selection contests in which the strategic variable is degree of risk rather than amount of effort. The selection efficiency of such contests is examined. We show that the selection efficiency of a contest may be ...
    • Risk-based pricing in competitive lending markets 

      Müller, Carola; Juelsrud, Ragnar; Andersen, Henrik (Working paper;19/2021, Working paper, 2021)
      We use unique data on banks' private risk assessments of corporate borrowers to quantify how competition among banks affect the risk sensitivity of interest rates in the Norwegian credit market. We show that an increase ...
    • Robust-Satisficing Monetary Policy Under Parameter Uncertainty 

      Akram, Q. Farooq; Ben-Haim, Yakov; Eitrheim, Øyvind (Working Papers;14/2007, Working paper, 2007)
      We employ the robust-satisficing approach to derive robust monetary policy when parameters of a macro model are uncertain. There is a trade-off between robustness of policies and their performance. Hence, under uncertainty, ...
    • Robustifying Optimal Monetary Policy Using Simple Rules as Cross-Checks 

      Ilbas, Pelin; Røisland, Øistein; Sveen, Tommy (Working Papers;22/2012, Working paper, 2012)
      There are two main approaches to modelling monetary policy; simple instrument rules and optimal policy. We propose an alternative that combines the two by extending the loss function with a term penalizing deviations from ...
    • Rule-Of-Thumb Consumers, Productivity and Hours 

      Furlanetto, Francesco; Seneca, Martin (Working Papers;5/2007, Working paper, 2007)
      In this paper we study the transmission mechanisms of productivity shocks in a model with rule-of-thumb consumers. In the literature, this financial friction has been studied only with reference to fiscal shocks. We show ...
    • Salience of Debt and Homebuyers’ Credit Decisions 

      Agarwal, Sumit; Karapetyan, Artashes (Working Papers;21/2015, Working paper, 2015)
      We show how a regulatory disclosure of hidden debt can eliminate a large mispricing in housing. In a setting where homebuyers must combine several sources of debt, they are biased towards hidden loans, especially if they ...
    • Savers, Spenders and Fiscal Policy in a Small Open Economy 

      Matsen, Egil; Sveen, Tommy; Torvik, Ragnar (Working Papers;18/2004, Working paper, 2004)
      This paper analyzes the effects of fiscal policy in an open economy. We extend the savers-spenders theory of Mankiw (2000) to a small open economy with endogenous labor supply. We first show how the Dornbusch (1983) ...