Browsing Staff Memo by Title
Now showing items 47-66 of 282
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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 ... -
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 ... -
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 ... -
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 ... -
Effects of the new standardised approach and the new output floor for IRB banks
(Staff Memo;8/2023, Working paper, 2023)The EU plans to revise the capital adequacy rules for banks in 2025. Regulatory amendments will be introduced in Norway through the EEA Agreement. Our results show that the regulatory amendments can significantly reduce ... -
Effekten av en inndragning av 50-øremynten på inflasjonen
(Staff Memo;1/2009, Working paper, 2009)KPI måles med annonserte priser og ikke som betalt beløp, slik at avrunding av priser ved kontant betaling i seg selv ikke påvirker KPI. (Ved elektronisk betaling blir priser ikke avrundet.) Inndragning av 50-øremynten kan ... -
Effekter av arbeidsinnvandring
(Staff Memo;12/2011, Working paper, 2011)Høy innvandring har ført til sterk befolkningsvekst i Norge de siste årene. Befolkningsstrømmer av det omfanget vi nå opplever kan påvirke økonomiens virkemåte. Det er derfor viktig å ha en forståelse av hvilke effekter ... -
Effekter av IRB-metoden på bankenes utlån til norske foretak
(Staff Memo;1/2020, Working paper, 2020)I dette memoet analyserer vi hvordan innføringen av IRB-metoden kan ha påvirket bankenes utlån til foretak, utlånsmarginer og porteføljekvalitet i Norge. Våre resultater viser at IRB-bankene reduserte utlånsmarginene ...