Browsing Staff Memo by Title
Now showing items 52-71 of 310
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Da Norge forlot gullet : Norges Bank og kurspolitikken 1931–1933
(Staff Memo;9/2012, Working paper, 2012)Denne masteroppgaven analyserer norsk kurspolitikk fra gullstandardens sammenbrudd og frem til kronens de facto stabilisering mot pundet i 1933. Oppgaven undersøker hvordan ulike argumenter og interesser kom til uttrykk ... -
Debt and Household Consumption Responses
(Staff Memo;1/2016, Working paper, 2016)Norwegian households’ levels of housing wealth have since the banking crisis of the 90s become an ever more dominant part of households’ portfolios. Low interest rates and easy access to mortgages have contributed to both ... -
The demand for safe liquid assets and the implications of issuing a Central Bank Digital Currency for bank funding instruments
(Staff Memo;8/2020, Working paper, 2020)The pros and cons of issuing a Central Bank Digital Currency (CBDC) is currently debated by Norges Bank and other central banks. A CBDC would grant access to the central bank balance sheet to a broader set of economic ... -
Den nøytrale realrenten: Et oppdatert syn på r*
(Staff Memo;7/2022, Working paper, 2022)Den nøytrale realrenten (r*) er en sentral størrelse for å kunne vurdere stramheten i pengepolitikken. Den nøytrale realrenten har etter alt å dømme falt betydelig de siste tre tiårene, drevet av avtakende produktivitetsvekst, ... -
Det norske pengemarkedet :
(Staff Memo;4/2022, Working paper, 2022)Dette memoet beskriver de viktigste delene av det norske pengemarkedet. Siden 2019 har banker med konto i Norges Bank rapportert sine transaksjoner i pengemarkedet til Norges Banks pengemarkedsrapportering (RPD). Memoet ... -
Digitale sentralbankpenger - konsekvenser for likviditetsstyringen og pengepolitikken
(Staff Memo;19/2023, Working paper, 2023)Notatet drøfter mulige effekter av digitale sentralbankpenger (DSP) på likviditets- og pengepolitikken. -
Distributional effects of monetary policy in Norway
(Staff Memo;4/2021, Working paper, 2021)We quantify the short-term effects of both non-systematic and systematic monetary policy on the income and wealth distribution in Norway, and measure the relative importance of the various channels. An expansionary monetary ... -
Documentation of NEMO - Norges Bank’s Core Model for Monetary Policy Analysis and Forecasting
(Staff Memo;8/2017, Working paper, 2017)This paper explains the basic mechanisms of Norges Bank’s core model for monetary policy analysis and forecasting (NEMO). NEMO has recently been extended with an oil sector to incorporate important channels of shocks to ... -
Documentation of the Method Used by Norges Bank for Estimating Implied Forward Interest Rates
(Staff Memo;11/2005, Working paper, 2005)Forward interest rates are an important indicator for monetary policy. They are commonly used, both by central banks and market participants, to gain information about market expectations of future interest rates. Forward ... -
Does high debt make households more vulnerable? : A survey of empirical literature using microdata
(Staff Memo;3/2023, Working paper, 2023) -
Does structural liquidity have a greater impact on the Nibor premium than earlier?
(Staff Memo;14/2023, Working paper, 2023)In recent years, the liquidity premium between the Norwegian krone (NOK) and the US dollar (USD) in the FX swap market, the so-called OIS basis, has accounted for a larger share of the Nibor premium than earlier. This has ... -
Dokumentasjon av enkelte beregninger til årstalen 2010
(Staff Memo;1/2010, Working paper, 2010) -
Dokumentasjon av enkelte beregninger til årstalen 2012
(Staff Memo;5/2012, Working paper, 2012) -
The downs and ups of mark-ups
(Staff Memo;2/2023, Working paper, 2023)Based on sectoral National accounts data and estimates of the implicit rental rate of capital, we calculate price mark-ups for 42 Norwegian industries for the period 1980-2019. The results indicate a broad-based increase ... -
Driving Forces Behind European Commercial Real Estate Prices Prior to a Sharp Fall in Prices
(Staff Memo;1/2018, Working paper, 2018)What factors have driven commercial real estate (CRE) prices upwards prior to a sharp fall in prices? We study this question by identifying turning points in CRE for a dataset covering the prime office segment in 58 cities ... -
The driving forces behind households’ accumulation of consumer debt
(Staff Memo;8/2024, Working paper, 2024)In this Staff Memo we explore the determinants of unsecured consumer debt among Norwegian households using detailed administrative data from 2020 to 2024. We identify a set of key drivers, including life-cycle patterns, ... -
Effects of a New Monetary Policy Loss Function in NEMO
(Staff Memo;10/2012, Working paper, 2012)In this memo we provide technical documentation of the impulse responses to some representative shocks in NEMO. The impulse responses are shown both with the new specification of the monetary policy loss function presented ... -
Effects of Changing Banks’ Risk Weights
(Staff Memo;15/2012, Working paper, 2012)The risk weights banks employ when calculating capital adequacy have been mentioned as a potential macro prudential tool to contain systemic risk emerging in specific sectors. Higher risk weights can to a certain extent ... -
Effects of Higher Equity Ratio on a Bank’s Total Funding Costs and Lending
(Staff Memo;10/2011, Working paper, 2011)Simply stating that because equity is much more expensive than debt funding, banks total funding costs will increase accordingly if their equity ratio is increased, biases the estimated increase upwards. As recently put ... -
Effects of the IRB approach on bank lending to Norwegian enterprises
(Staff Memo;1/2020, Working paper, 2020)This paper analyses how the introduction of the IRB approach may have affected banks' lending to enterprises, lending margins and portfolio quality in Norway. Our results show that the IRB banks' lending margins decreased ...