Blar i Staff Memo på tittel
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Likviditetsstyringen i Norge og utviklingen i bankenes likviditet
(Staff Memo;10/2010, Working paper, 2010)Det operative målet for pengepolitikken er lav og stabil inflasjon med en årsvekst i konsumprisene som over tid er nær 2,5 prosent. Hovedstyret i Norges Bank bestemmer styringsrenten, som er renten bankene får på sine ... -
Liquidity indicators for the Norwegian government bond market
(Staff Memo;8/2019, Working paper, 2019)An objective of Norges Bank Government Debt Management is to meet the government’s borrowing requirement at the lowest possible cost. At the same time, Government Debt Management shall seek to maintain a yield curve out ... -
Liquidity Management System : Floor or Corridor?
(Staff Memo;4/2010, Working paper, 2010)Developments during the financial crisis of 2008 and 2009 have, at least temporarily, changed the way monetary policy is implemented in many countries. Before the crisis, most countries implemented policy through some form ... -
Long-Term Market Outlook
(Staff Memo;7/2006, Working paper, 2006)This Market Report will establish a set of investment beliefs for the 15 year horizon we shall be using in the ensuing Portfolio Reports, for the “Government Pension Fund – Global” and the “Foreign Reserves”, respectively. ... -
Long-Term Outlook for Fixed Income and Equity Return
(Staff Memo;10/2005, Working paper, 2005)The investment horizon applied to the Petroleum Fund and the foreign exchange reserves is long. Parts of the Petroleum Fund are phased into the Norwegian economy via the fiscal spending rule each year, but the fund’s life ... -
A macroprudential contagion stress test framework
(Staff Memo;4/2020, Working paper, 2020)We develop a macroprudential contagion stress test framework to examine how a network of Norwegian banks can amplify a shock to bank capital at the macro level. The framework looks at how fire sales of common asset holdings ... -
Macroprudential Regulation - What, Why and How?
(Staff Memo;13/2014, Working paper, 2014)This paper reviews recent literature on the theoretical foundations of macroprudential regulation. We identify six categories of market failures that give rise to macroprudential concerns; pecuniary externalities, ... -
Makroøkonomiske virkninger av høyere kapitalkrav for bankene
(Staff Memo;14/2011, Working paper, 2011)EU-kommisjonens forslag til nytt kapitaldirektiv (CRD IV) inneholder blant annet strengere minstekrav til kapital og et forslag om å innføre en motsyklisk kapitalbuffer. Direktivet skal etter planen innføres fra 2013 og ... -
Market Discipline Issues in Cross-Border Banking. A Nordic Perspective
(Staff Memo;1/2006, Working paper, 2006)Cross-border banking is on the rise. Large, cross-border banks have been established in the Nordic, Baltic and Benelux countries. Banco Santander’s takeover of Abbey National made headline news last year, and this year the ... -
Measuring and Predicting Household Housing Wealth
(Staff Memo;4/2006, Working paper, 2006)At Norges Bank, a small model has been developed, which includes estimated equations for the two variables that ultimately determine developments in household housing wealth, namely house prices and housing investment. In ... -
Mellom politikk og marked? En studie av Pengepolitisk avdeling i Norges Bank, IMF og spørsmålet om den norske penge- og kredittpolitikken ca. 1965-1980
(Staff Memo;19/2011, Working paper, 2011)This master thesis is a study of the Monetary Policy Department in the Bank of Norway (BoN), the International Monetary Fund (IMF), and the question of the Norwegian monetary and credit policy around 1965-1980. The main ... -
Model Estimates of the Output Gap
(Staff Memo;4/2018, Working paper, 2018)This paper documents a set of models used by Norges Bank in estimating the output gap. The models take into account developments in key cyclical indicators such as GDP, unemployment, inflation, wage growth, investment, ... -
Modellberegninger av produksjonsgapet
(Staff Memo;4/2018, Working paper, 2018)I denne artikkelen dokumenteres et sett av modeller som Norges Bank benytter i vurderingen av produksjonsgapet. Modellene tar hensyn til utviklingen i sentrale konjunkturindikatorer som BNP, arbeidsledighet, inflasjon, ... -
Monetary Policy Analysis in Practice
(Staff Memo;11/2010, Working paper, 2010)Norges Bank is one of few central banks publishing an interest rate fore- cast. This paper discusses how we derive and communicate the interest rate forecast. To produce the forecasts, the Bank uses a medium-sized small ... -
Monetary Policy Analysis in Practice - a Conditional Forecasting Approach
(Staff Memo;8/2010, Working paper, 2010)In this paper we provide a broad outline of the forecasting and policy analysis system adopted at Norges Bank. -
Monetary Policy Committees and Communication
(Staff Memo;2/2013, Working paper, 2013)A country has only one central bank. It is therefore logical to compare it with central banks of other countries. There is broad agreement on the objective of monetary policy – price stability – and on central bank ... -
Money and Credit in Norway
(Staff Memo;8/2009, Working paper, 2009)The recent turmoil in the global financial markets raises questions about the nature of the downturn of the Norwegian economy. In particular, are worsening credit market conditions also a leading cause of the Norwegian ... -
Myndighetenes støtteordninger under koronapandemien har dempet kredittrisikoen i foretakene
(Staff Memo;3/2021, Working paper, 2021)Etter at koronapandemien brøt ut, har myndighetene innført en rekke tiltak rettet mot næringslivet. Støtten har i stor grad blitt gitt til de næringene som er hardest rammet av pandemien og smitteverntiltakene. En betydelig ... -
Navigating with NEMO
(Staff Memo;5/2019, Working paper, 2019)This paper describes NEMO, the main dynamic stochastic general equilibrium model used at Norges Bank for monetary policy analysis and forecasting. NEMO has been used to identify the sources of business cycle fluctuations ... -
Når staten tar kontroll : Bankkrisen fra 1991 - 1993
(Staff Memo;18/2011, Working paper, 2011)På slutten av 1980-tallet inntraff en bankkrise i Norge, den første på 60 år her til lands. Denne oppgaven har til hensikt å undersøke løsningene som ble valgt for den norske bankkrisen fra 1988 til 1993, med vekt på de ...