• Alternative virkemidler i pengepolitikken - den nødvendige monetære økosirk 

      Bernhardsen, Tom; Kloster, Arne; Syrstad, Olav (Staff Memo;12/2016, Working paper, 2016)
      I dette notatet ser vi [...] nærmere på alternative virkemidler med særlig fokus på monetær økosirk. Vi drøfter først ulike pengemengdebegreper og hvordan penger skapes. Deretter ser vi nærmere på såkalte likviditetsstyr ...
    • Bond market fire sales and turbulence in the Norwegian FX market in March 2020 

      Alstadheim, Ragna; Nordal, Kjell Bjørn; Syrstad, Olav; ter Ellen, Saskia; Wassas, May-Iren Walstad (Staff Memo;2/2021, Working paper, 2021)
      The world witnessed a meltdown in financial markets in March 2020 as the Covid-19 pandemic hit the global economy. In this memo we document how the turbulence affected Norwegian financial markets. We describe possible ...
    • Nibor, Libor and Euribor – all IBORs, but different 

      Kloster, Arne; Syrstad, Olav (Staff Memo;2/2019, Working paper, 2019)
      This memo takes a closer look at what lays behind different benchmark interest rates. Particular emphasis is put on how the different practices for quotation can explain why Nibor’s risk premium has on average been higher ...
    • Norges Bank’s Endogenous Interest Rate Path and Its Impact on Interest Rate Expectations 

      Syrstad, Olav; Rime, Dagfinn (Staff Memo;6/2014, Working paper, 2014)
      Norges Bank has published its own forecasts for the key policy rate since 2005. The Reserve Bank of New Zealand introduced this practice as early as in 1997. Later, in 2007, the Swedish Riksbank also started to publish its ...
    • Risikopåslagene i Nibor og andre lands interbankrenter 

      Bernhardsen, Tom; Kloster, Arne; Syrstad, Olav (Staff Memo;20/2012, Working paper, 2012)
      Interbankrenter som Libor, Euribor, Stibor og Nibor spiller en viktig rolle som referanserenter i en rekke låneavtaler og for ulike typer derivater. Interbankrentene skal uttrykke prisen på et usikret utlån fra en bank til ...
    • Risk Premiums in NIBOR and Other Countries’ Interbank Lending Rates 

      Bernhardsen, Tom; Kloster, Arne; Syrstad, Olav (Staff Memo;21/2012, Working paper, 2012)
      Interbank interest rates such as three‐ and six‐month LIBOR, EURIBOR, STIBOR and NIBOR play an important role as benchmark rates for a number of loan contracts and various types of derivatives. Interbank rates are intended ...
    • Systemer for likviditetsstyring : Oppbygging og egenskaper 

      Syrstad, Olav (Staff Memo;5/2011, Working paper, 2011)
      Målet i likviditetspolitikken er å sørge for at de helt kortsiktige pengemarkedsrentene holdes nær styringsrenten. Sentralbankene oppnår dette ved å fastsette vilkårene for bankenes lån og plasseringer i sentralbanken, ...