• Driving Forces Behind European Commercial Real Estate Prices Prior to a Sharp Fall in Prices 

      Hagen, Marius; Hansen, Frank (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 ...
    • Macroprudential Regulation - What, Why and How? 

      Borchgrevink, Henrik; Ellingsrud, Sigmund; Hansen, Frank (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, ...
    • Model Estimates of the Output Gap 

      Hagelund, Kåre; Hansen, Frank; Robstad, Ørjan (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 

      Hagelund, Kåre; Hansen, Frank; Robstad, Ørjan (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, ...