Blar i Staff Memo på tittel
Viser treff 252-271 av 282
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Targeted Countercyclical Capital Buffers
(Staff Memo;13/2018, Working paper, 2018)This paper investigates the effect of broad-based versus sectoral capital requirements using a dynamic model of bank behaviour. We study the problem facing banks when determining their dividend policy and portfolio of ... -
Teknisk beregning av KPIXE
(Staff Memo;3/2009, Working paper, 2009)Norges Bank ser på flere ulike indikatorer i vurderingen av underliggende inflasjon. KPIXE2 er en indikator for underliggende inflasjon som ble publisert første gang i Pengepolitisk rapport 2/08. KPIXE fanger opp den ... -
Teknologiutvikling og klimatiltak kan påvirke bankenes kredittrisiko
(Staff Memo;6/2018, Working paper, 2018)Klimarisiko kan ha betydning for finansiell stabilitet. For Norge kan en stor oljesektor innebære en særegen risiko knyttet til svakere framtidig oljeetterspørsel. Usikkerhet om framtidig klimaregulering og teknologiutvikling ... -
Ten Years of Household Micro Data. What Have We Learned?
(Staff Memo;8/2014, Working paper, 2014)Administrative register data for Norwegian households are used to analyse the distribution of debt and assets by income, wealth and age group. We find that the cross-sectional distribution is skewed. The distribution of ... -
That Uncertain Feeling - How Consumption Responds to Economic Uncertainty in Norway
(Staff Memo;23/2012, Working paper, 2012)Economic theory predicts that higher uncertainty motivates households to consume less. In this paper we empirically assess how household consumption in Norway responds to variation in economic uncertainty. We consider ... -
The Choice of Exchange Rate Assumption in the Process of Forecasting Inflation
(Staff Memo;3/2005, Working paper, 2005)In the process of forecasting inflation the central bank needs to make assumptions regarding the future path of the interest rate and the exchange rate. This paper focuses on the exchange rate assumption. In particular, ... -
The Declining Deposit to Loan Ratio - What Can the Banks Do?
(Staff Memo;28/2012, Working paper, 2012)We have been exploring possible explanations for the strong decline in the ratio between bank deposits held by the non-financial sector in Norway, and the bank loans taken by the same sector. We have followed two different ... -
The Effect of Higher Interest Rates on Household Disposable Income and Consumption - a Static Analysis of the Cash-Flow Channel
(Staff Memo;3/2018, Working paper, 2018)Household debt in Norway has risen substantially over the past 15-20 years relative to both disposable income and bank deposits. An increase in interest rates will therefore reduce disposable income for Norwegian households ... -
The Financial Accelerator and the Real Economy : A Small Macroeconometric Model for Norway with Financial Frictions
(Staff Memo;2/2012, Working paper, 2012)This paper studies the salient features of a core macroeconometric model that allows for self-reinforcing co-movements between credit, asset prices and real economic activity. In contrast to the economic literature that ... -
The Golden Interest Rule : Robust Simple Interest Rate Rules for the Norwegian Economy
(Staff Memo;16/2012, Working paper, 2012) -
The Neutral Real Interest Rate
(Staff Memo;1/2005, Working paper, 2005)The topic for this paper is the so called neutral real interest rate. This is frequently defined as the level of the real interest rate consistent with stable inflation and production equal to potential production. Hence ... -
The Pension Reform in Norway - a Useful Step, but More Funding Could be Beneficial
(Staff Memo;5/2006, Working paper, 2006)A reform of the fairly generous Norwegian public pension system was agreed upon by a broadly based coalition in the Norwegian Parliament in May 2005. The reform promises to reduce future costs and to improve labour incentives ... -
The Phillips Curve and Beyond - Why Has Wage Growth Been so Low?
(Staff Memo;10/2018, Working paper, 2018)In this paper, we estimate various dynamic wage equations for mainland Norway. Our starting point is a standard Phillips curve. We then expand on our baseline specification by adding explanatory variables suggested by ... -
The Power of Forward Guidance in NEMO
(Staff Memo;7/2019, Working paper, 2019)This staff memo revisits the power of forward guidance with particular emphasis on the effectiveness of anticipated policy in Norges Bank’s main policy model NEMO. First we explain, within the context of a simple toy model, ... -
The Relationship Between the Key Policy Rate and Macroeconomic Variables : A Simple Cross-Check for Norway
(Staff Memo;3/2008, Working paper, 2008)In this paper we discuss simple relationships between the key policy rate and macroeconomic variables in Norway. Such models may be useful tools in monetary policy analysis as they provide a cross-check for the interest ... -
”til Christiania for at søge Forlindring i de store Tyngsler” : Bondetogene på Østlandet og bøndenes motstand mot skattepolitikken i 1818
(Staff Memo;3/2012, Working paper, 2012)Gjennom hele 1818 viste bønder på Østlandet sin motstand mot skattleggingen og finanspolitikken, både ved å skrive søknader og ved å gå i direkte konfrontasjon mot myndighetene gjennom organiseringen og utførelsen av ... -
Trondhjem som hovedsete for Norges Bank – noen faktiske og kontrafaktiske betraktninger
(Staff Memo;8/2008, Working paper, 2008) -
Two Essays on the Magic Number 4
(Staff Memo;2/2011, Working paper, 2011) -
Unemployment Benefits and Household Credit Risk
(Staff Memo;17/2014, Working paper, 2014)In Norway the wage replacement rate, i.e. the proportion of wage income that is replaced by unemployment benefit, falls with high income. At the same time, the distribution of debt is skewed towards high-income earners. ... -
Utdyping av stresstestene i Finansiell stabilitet 2/2012
(Staff Memo;32/2012, Working paper, 2012)I rapporten Finansiell stabilitet (FS) har Norges Bank to ganger i året publisert resultatene av makrostresstester av bankenes soliditet. Hensikten med stresstesten er å vurdere hvordan kreditt- og markedsrisiko vil utvikle ...