Arbeidsnotater / Working Papers: Nye registreringer

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    • Optimum Currency Areas Under Inflation Targeting 

      Røisland, Øistein; Torvik, Ragnar (Working Papers;10/1999, Working paper, 1999)
      Several countries face the choice between targeting inflation independently or entering a monetary union that targets inflation. The present paper extends the theory of optimum currency areas to deal with this choice. In ...

    • The Generic Properties of Equilibrium Correction Mechanisms 

      Bårdsen, Gunnar; Hurn, Stan; Lindsay, Kenneth (Working Papers;8/1999, Working paper, 1999)
      Linear dynamic equilibrium correction mechanisms are shown to follow from the discretisation of continuous economic processes with steady-state solutions. In addition, the proposed procedure provides testable restrictions ...

    • The consumption function in Norway. Breakdown and reconstruction 

      Brodin, P. Anders; Nymoen, Ragnar (Working Papers;7/1989, Working paper, 1989)
      In the mid-eighties econometric forecasts and ex post simulations of private consumption in Norway began to show clear signs of "structural breakdown" .This evidence lends itself to two interpretations, distinct in their ...

    • A Test of Uncovered Interest Rate Parity for Ten European Countries Based on Bottstrapping and Panel Data Models 

      Bernhardsen, Tom (Working Papers;9/1997, Working paper, 1997)
      Based on both single country models and panel data models uncovered interest rate parity is tested for ten European countries relative to Germany by regressing exchange rate changes on interest rate differentials. The ...

    • Early Warning Indicators for Norwegian Banks: A Logit Analysis of the Experiences from the Banking Crisis 

      Berg, Sigbjørn Atle; Hexeberg, Barbro (Working Papers;1/1994, Working paper, 1994)
      Most existing early warning studies for the banking industry are based on U.S. data. The present paper considers the experiences made during the Norwegian banking crisis 1988- 92. The performance of a set of possible early ...

    • 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 ...

    • 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 ...

    • Unemployment. Labour Market Programmes and Wages in Norway 

      Wulfsberg, Fredrik; Raaum, Oddbjørn (Working Papers;11/1997, Working paper, 1997)
      The Norwegian authorities pursue active labour market policies to fight unemployment by qualifying the unemployed in a wide range of programmes. We discuss theoretically and investigate empirically the effects such policies ...

    • Error-Correction Versus Differencing in Macroeconometric Forecasting 

      Eitrheim, Øyvind; Husebø, Tore Anders; Nymoen, Ragnar (Working Papers;6/1998, Working paper, 1998)
      Recent work by Clements and Hendry have shown why forecasting systems that are in terms of differences, dVARs, can be more accurate than economet- ric models that include levels variables, ECMs. For example, dVAR forecasts ...

    • Wages and Profitability: Norwegian Manufacturing 1967Q1 - 1998Q2 

      Bjørnstad, Roger; Nymoen, Ragnar (Working Papers;7/1999, Working paper, 1999)
      Economic theories of imperfectely competitive labour markets predict that wages are linked to profits. In spite of this, profit variables are not explicitely specified in empirical models of wage formation that otherwise ...

    • Assessment of Credit Risk in the Norwegian Business Sector 

      Sjøvoll, Espen (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 ...

    • Monetary Regime and the Co-Ordination of Wage Setting 

      Holden, Steinar (Working Papers;1/2000, Working paper, 2000)
      International comparisons show that countries with co-ordinated wage setting generally have lower unemployment than countries with less co-ordinated wage setting. This paper argues that the monetary regime may affect whether ...

    • 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 ...

    • Statistical Issues in Macroeconomic Modelling 

      Jansen, Eilev S. (Working Papers;12/2000, Working paper, 2000)
      The paper describes the influx of mathematical statistics in economics. It focuses on an approach to macroeconometric modelling which is based on fundamental statistical concepts like the joint distribution function of all ...

    • The Performance of Inflation Forecast Feedback Rules in Small Open Economies 

      Leitemo, Kai (Working Papers;11/2000, Working paper, 2000)
      This paper examines the performance of inflation forecast feedback rules in a two-sector, calibrated model of the U.K. economy. Under such rules, the interest rate responds to the deviation of the unchanged-interest-rate ...

    • Open-Economy Inflation Forecast Targeting 

      Leitemo, Kai (Working Papers;2/2000, Working paper, 2000)
      The paper shows that the procedure of inflation forecast targeting arguably implemented by Sveriges Riksbank and the Bank of England may lead to high nominal and real variability; the latter being manifested most notably ...

    • Forecasting Cash Use in Legal and Illegal Activities 

      Humphrey, David B.; Kaloudis, Aris; Øwre, Grete (Working Papers;14/2000, Working paper, 2000)
      A general econometric model is developed and used to estimate the share of cash in consumer point-of-sale transactions in Norway over 1980-99. The share of cash fell from 90% during the 1980s to 50% in 1999, primarily due ...

    • When Does the Oil Price Affect the Norwegian Exchange Rate? 

      Akram, Q. Farooq (Working Papers;8/2000, Working paper, 2000)
      Major changes in the Norwegian exchange rate have often coincided with large fluctuations in the price of crude oil. Previous empirical studies have however suggested a weak and ambiguous relation between the oil price and ...

    • Fiscal Policy Under Inflation Targeting 

      Røisland, Øistein; Torvik, Ragnar (Working Papers;15/2000, Working paper, 2000)
      The paper discusses the role of fiscal policy as an instrument for macroeconomic stabilisation when monetary policy pursues inflation targeting. Within a theoretical model of an open economy with a traded and non-traded ...

    • Model Specification and Inflation Forecast Uncertainty 

      Bårdsen, Gunnar; Jansen, Eilev S.; Nymoen, Ragnar (Working Papers;6/2000, Working paper, 2000)
      Three classes of inflation models are discussed: Standard Phillips curves, New Keynesian Phillips curves and Incomplete Competition models. Their relative merits in explaining and forecasting inflation are investigated ...