Arbeidsnotater / Working Papers: Recent submissions
Now showing items 81-100 of 472
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Price Adjustments and Inflation - Evidence from Norwegian Consumer Price Data 1975-2004
(Working Papers;11/2009, Working paper, 2009)I document price adjustments in both high and low inflation years from 14 milllion monthly price observations of 1,133 goods and services. The variation in the frequency of price changes explains all the variation in the ... -
Forecast Density Combinations of Dynamic Models and Data Driven Portfolio Strategies
(Working Paper;10/2018, Working paper, 2018)A dynamic asset-allocation model is specified in probabilistic terms as a combination of return distributions resulting from multiple pairs of dynamic models and portfolio strategies based on momentum patterns in US industry ... -
State Space Models with Endogenous Regime Switching (currently unavailable)
(Working Paper;12/2018, Working paper, 2018) -
ECB Spillovers and Domestic Monetary Policy Effectiveness in Small Open Economies
(Working Paper;9/2018, Working paper, 2018)In this paper we study financial spillovers from the European Central Bank's (ECB) monetary policy and communication, and whether they have consequences for the effectiveness of domestic monetary policy of small open ... -
Identification of Interbank Loans and Interest Rates from Interbank Payments - a Reliability Assessment
(Working Paper;8/2018, Working paper, 2018)We investigate the reliability of the 'Furfine filter' often used to identify interbank loans and interest rates from interbank payments settled at central banks. To this end, we have been granted access to records of all ... -
Forbearance Patterns in the Post-Crisis Period
(Working Paper;11/2018, Working paper, 2018)Using supervisory loan-level data on corporate loans, we show that banks facing high levels of non-performing loans relative to their capital and provisions were more likely to grant forbearance measures to the riskiest ... -
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 ... -
Criteria for “good” justifications
(Working papers;6/2018, Working paper, 2018)Many institutions in a democratic society wield important power by virtue of the decisions they make. These decisions may concern individuals or have a more general impact on society. It goes without saying today that this ... -
Kriterier for «gode» begrunnelser
(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 ... -
Technology and the Two Margins of Labor Adjustment: A New Keynesian Perspective
(Working papers;7/2018, Working paper, 2018)Canova et al. (2010 and 2012) estimate the dynamic response of labor market variables to technological shocks. They show that investment-speci c shocks imply almost exclusively an adjustment along the intensive margin ... -
Business cycle narratives
(Working papers;3/2018, Working paper, 2018)This article quantifies the epidemiology of media narratives relevant to business cycles in the US, Japan, and Europe (euro area). We do so by first constructing daily business cycle indexes computed on the basis of the ... -
The global financial cycle, bank capital flows and monetary policy. Evidence from Norway
(Working papers;2/2018, Working paper, 2018)We investigate the importance of a global financial cycle for gross capital inflows based on monthly balance sheet data for Norwegian banks. The VIX index has been interpreted as an “investor fear gauge” and associated ... -
Financial Globalization and Bank Lending : The Limits of Domestic Monetary Policy?
(Working papers;4/2018, Working paper, 2018)We empirically analyze how bank lending reacts to monetary policy in the presence of global financial flows. Employing a unique and novel dataset of the funding modes and currency composition of the full population of ... -
An historical perspective on financial stability and monetary policy regimes : A case for caution in central banks current obsession with financial stability
(Working papers;5/2018, Working paper, 2018)The global financial crisis (GFC) of 2007-2008 led to a call for central banks to elevate their financial stability mandate to the same level as their price stability mandate. It also led to a call for central banks to use ... -
Measuring Structural Unemployment: Is There a Rough and Ready Answer?
(Working Papers;9/1998, Working paper, 1998)In recent years, the OECD has measured the structural rate of unemployment by an indicator called the Non-Accelerating Wage Rate of Unemployment. The NAWRU indicator is an important element in the policy analysis of the ... -
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 ... -
Inference in small cointegrated systems: some Monte Carlo results
(Working Papers;9/1991, Working paper, 1991)The Johansen procedure for testing and estimating cointegration models is analysed from a practitioner's perspective. We adress the robustness of the cointegration tests in small samples and with respect to particular types ... -
Econometric Inflation Targeting
(Working Papers;5/1999, Working paper, 1999)Inflation targeting makes the Central Bank’s conditional inflation forecast the operational target for monetary policy. Successful inflation targeting requires knowing the transmission mechanisms to inflation from shocks ... -
Innvandreres tilknytning til arbeidsmarkedet
(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 ... -
Multiple Unemployment Equilibria: Do Transitory Shocks Have Permanent Effects?
(Working Papers;6/1999, Working paper, 1999)This paper tests for multiple equilibria in the Norwegian unemployment rate and investigates whether it displays asymmetric response to positive and negative shocks. Linear and nonlinear univariate models are employed to ...