Now showing items 1-20 of 246

    • 500 Years of Price History : Price Stability Is the Norm. What Distinguishes the Abnormal? 

      Qvigstad, Jan F. (Staff Memo;7/2005, Working paper, 2005)
      The transition to inflation targeting, which took place in Norway in 2001, may perhaps at the time have appeared to be a transition to a new and unfamiliar monetary policy system. Inflation targeting has, after just a few ...
    • A Cobweb Model of Financial Stability in Norway 

      Dahl, Geir Arne; Kloster, Thea Birkeland; Larsen, Unni; Rakkestad, Ketil Johan; Reisvaag, Rebekka; Syversten, Bjørne Dyre H.; Træe, Cathrine Bolstad (Staff Memo;15/2011, Working paper, 2011)
      The Staff Memo presents a cobweb model of financial stability in Norway. The model is a technical tool that incorporates both vulnerabilities in the banking sector and external risks to the banking sector. Thus, the model ...
    • A Composite Indicator of Systemic Stress (CISS) for Norway – a Reference Indicator for the Reduction of the Countercyclical Capital Buffer 

      Wen, Yudi (Staff Memo;4/2015, Working paper, 2015)
      This paper constructs a Composite Indicator of Systemic Stress (CISS) for Norway using a portfolio-theoretic framework as in Holló, Kremer and Lo Duca (2012) to facilitate real-time monitoring of the short-term development ...
    • A Financial Conditions Index for Norway 

      Vonen, Nikka Husom (Staff Memo;7/2011, Working paper, 2011)
      Financial conditions indexes (FCIs) may be useful tools for policymakers because they may have the ability to summarize overall financial conditions for households and companies and at the same time provide timely information ...
    • A Heatmap for Monitoring Systemic Risk in Norway 

      Arbatli, Elif Ceren; Johansen, Rønnaug Melle (Staff Memo;10/2017, Working paper, 2017)
      We develop a tool to monitor systemic risk in Norway’s financial system. In particular, we construct 39 indicators capturing a wide range of financial vulnerabilities and organise them under three broad classes of ...
    • A Macroprudential Stress Testing Framework 

      Andersen, Henrik; Gerdrup, Karsten R.; Johansen, Rønnaug Melle; Krogh, Tord (Staff Memo;1/2019, Working paper, 2019)
      We present a macroprudential stress testing framework. While traditional stress testing assesses the level of banks’ capital adequacy relative to regulatory requirements through a hypothetical crisis, macroprudential stress ...
    • A Model of Credit Risk in the Corporate Sector Based on Bankruptcy Prediction 

      Hjelseth, Ida Nervik; Raknerud, Arvid (Staff Memo;20/2016, Working paper, 2016)
      We propose a method for assessing the risk of losses on bank lending to the non-financial corporate sector based on bankruptcy probability modelling. We estimate bankruptcy models for different industries and attach a risk ...
    • A Small, Calibrated Macromodel to Support Inflation Targeting at Norges Bank 

      Husebø, Tore Anders; McCaw, Sharon; Olsen, Kjetil; Røisland, Øistein (Staff Memo;3/2004, Working paper, 2004)
      This note outlines a small, calibrated macromodel that can be used to support inflation targeting at Norges Bank. The model provides a stylised representation of the key flows in the macro economy, with a particular emphasis ...
    • A Suite-Of-Models Approach to Stress-Testing Financial Stability 

      Andersen, Henrik; Berge, Tor Oddvar; Bernhardsen, Eivind; Lindquist, Kjersti-Gro; Vatne, Bjørn Helge (Staff Memo;2/2008, Working paper, 2008)
      This paper presents a suite of models developed to stress-test financial stability. A macro model is linked to micro data-based models for households, firms and banks. The macro model includes credit- and consumer ...
    • 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 ...
    • Anslag på bankenes tap på utlån til ikke-finansielle foretak 

      Hjelseth, Ida Nervik; Saxegaard, Elif Arbatli; Solheim, Haakon; Vatne, Bjørn H. (Staff Memo;10/2020, Working paper, 2020)
      Lån til ikke-finansielle foretak er den største kilden til tap i bankene. Analyser av bankenes utlånstap til foretak er derfor viktig i vurderingen av finansiell stabilitet. I dette memoet presenterer vi Norges Banks ...
    • Aspects of the International Monetary System : International Reserves and International Exchange Rate Regimes 

      Fridriksson, Ingimundur (Staff Memo;9/2010, Working paper, 2010)
      The global economy has in recent years been characterized among other things by large imbalances between countries and regions, capital flow volatility, and large reserve accumulation by several countries, in some cases ...
    • Background Information, Annual Address 2010 

      Unknown author (Staff Memo;2/2010, Working paper, 2010)
    • Background Information, Annual Address 2012 

      Unknown author (Staff Memo;6/2012, Working paper, 2012)
    • Bank Lending to the Commercial Real Estate Sector - a Source of Systemic Risk? 

      Hagen, Marius; Hjelseth, Ida Nervik; Solheim, Haakon; Vatne, Bjørn Helge (Staff Memo;11/2018, Working paper, 2018)
      Banks' commercial real estate loans account for almost half of banks' total loans to non-financial enterprises. Losses on these loans are normally low in good times, but they have proved to be one of the largest sources ...
    • Bankenes etterspørsel og kredittpraksis siden 2008 : Resultater fra Norges Banks utlånsundersøkelse 

      Lindquist, Kjersti-Gro; Mundal, Olav M.K.; Riiser, Magdalena D.; Solheim, Haakon (Staff Memo;17/2016, Working paper, 2016)
      Artikkelen presenterer utviklingen i etterspørsel etter kreditt og kredittpraksis fra norske banker siden 2008, slik de er representert i Norges Banks utlånsundersøkelse. Norske banker har rapportert om en betydelig ...
    • Bankenes tilpasning til reguleringer : en modellbasert analyse 

      Nordal, Kjell Bjørn; Aronsen, Per Atle; Turtveit, Lars-Tore (Staff Memo;11/2016, Working paper, 2016)
      I denne artikkelen benytter vi en modell for å belyse insentivene banker har til å velge nivåene på kapitaldekning og utlånsvekst når de står overfor et regulatorisk kapitalkrav og regler om tvungen konvertering av gjeld ...
    • Bankenes utlån til næringseiendom – en kilde til systemrisiko? 

      Hagen, Marius; Hjelseth, Ida Nervik; Solheim, Haakon; Vatne, Bjørn Helge (Staff Memo;11/2018, Working paper, 2018)
      Utlån til næringseiendom utgjør nesten halvparten av bankenes utlån til ikke- finansielle foretak. Disse lånene har normalt lave tap i gode tider, men har vist seg som en av de største kildene til tap i bankene under ...
    • Banking Crisis Resolution Policy - Different Country Experiences 

      Mayes, David G. (Staff Memo;10/2009, Working paper, 2009)
      The current financial crisis has sparked an intense debate about how weak banks should be resolved. Despite international efforts to coordinate and converge on such policies, national policy advice and resolution practices ...
    • Bankmodellen og stresstesten i rapport om Finansiell stabilitet 2015 

      Syversten, Bjørne Dyre H.; Johansen, Rønnaug Melle; Lind, Øyvind Andreas; Solheim, Haakon; Stefano, Nicolas (Staff Memo;5/2015, Working paper, 2015)
      Norges Bank bruker stresstester til å undersøke mulige konsekvenser for bankene av alvorlige økonomiske forstyrrelser. Fra og med rapport om Finansiell stabilitet 2013 har stresstestene vært basert på et nytt modellapparat. ...