• A Decomposition of NIBOR 

      Tafjord, Kristian (Economic Commentaries;3/2015, Others, 2015)
      This commentary discusses the elements that comprise the Norwegian money market rate, NIBOR, given today’s foreign exchange swap construction. Furthermore it explains how international conditions can affect Norwegian money ...
    • Analyser av effekter av boliglånsforskriften 

      Borchgrevink, Henrik; Torstensen, Kjersti Næss (Aktuell Kommentar;1/2018, Others, 2018)
      Denne aktuelle kommentaren analyserer effekter av boliglånsforskriften som kom i 2017. Analysene er foreløpige fordi ligningstall for 2017 ennå ikke foreligger. Krav til utlån med pant i bolig ble forskriftsfestet i 2015 ...
    • Analyses of Effects of the Residential Mortgage Loan Regulation 

      Borchgrevink, Henrik; Torstensen, Kjersti Næss (Economic Commentaries;1/2018, Others, 2018)
      This article analyses the effects of the regulation on residential mortgage loans issued in 2017. The analyses are preliminary as tax data for 2017 are not yet available. Residential mortgage loan requirements were laid ...
    • Arbeidsinnvandring og lønn 

      Nordbø, Einar W. (Aktuell Kommentar;5/2013, Others, 2013)
      Siden EU-utvidelsen i 2004 har Norge opplevd en sterk tilstrømning av utenlandsk arbeidskraft. I denne kommentaren diskuteres det hvilken betydning dette kan ha for lønnsutviklingen. Bruken av utenlandsk arbeidskraft har ...
    • Are Household Debt-To-Income Ratios Too High? 

      Berge, Tor Oddvar; Vatne, Bjørn Helge (Economic Commentaries;4/2009, Others, 2009)
      Household debt growth has been high over the past 8‐9 years and it has been far higher than growth in disposable income. As a result, the household interest burden has risen sharply and is now at a historically high level ...
    • Asset Prices, Investment and Credit – What Do They Tell Us About Financial Vulnerability? 

      Riiser, Magdalena D. (Economic Commentaries;6/2008, Others, 2008)
      In this commentary we examine whether a number of historical indicators can predict financial vulnerability over the past 150 years in Norway. Using a Hodrick-Prescott filter, we estimate the gap between actual observations ...
    • Asset Prices, Investment, Credit and Financial Vulnerability 

      Riiser, Magdalena D. (Economic Commentaries;4/2010, Others, 2010)
      Previous analyses indicate that macroeconomic gap indicators for house prices, equity prices, investment and credit are useful in predicting periods of financial instability in Norway. The indicators show, with few exceptions, ...
    • Asset Prices, Investment, Credit and Financial Vulnerability. An Analysis Using Quarterly Figures 

      Riiser, Magdalena D. (Economic Commentaries;6/2012, Others, 2012)
      Previous analyses using annual figures for a period of over 150 years show that gap indicators of house prices, equity prices, investment and credit are useful in predicting periods of financial instability in Norway. ...
    • Bankenes kredittrisiko mot oljeleverandørnæringen 

      Hjelseth, Ida Nervik; Turtveit, Lars-Tore; Winje, Hanna (Aktuell Kommentar;5/2016, Others, 2016)
      Den direkte kreditteksponeringen mot oljeleverandørnæringen er samlet sett lav i norske banker. Til tross for betydelig fall i oljepris og oljeinvesteringer har bankenes utlånstap holdt seg lave. Flere oljeleverandører ...
    • Bankenes marginer 

      Erard, Monique E. Erlandsen (Aktuell Kommentar;4/2014, Others, 2014)
      Det har den siste tiden vært fokus på hvordan bankene priser utlån. Ulike aktører har sprikende synspunkter på om bankenes marginer er høye, og hvordan de har utviklet seg over tid. Denne kommentaren søker å avklare ulike ...
    • Banks’ Credit Risk Associated with the Oil Service Industry 

      Hjelseth, Ida Nervik; Turtveit, Lars-Tore; Winje, Hanna (Economic Commentaries;5/2016, Others, 2016)
      Norwegian banks’ direct credit exposures to the oil service industry are low overall. Despite a substantial fall in oil prices and oil investment, banks’ losses on loans have remained low. The debt-servicing capacity of a ...
    • Banks’ Margins 

      Erard, Monique E. Erlandsen (Economic Commentaries;4/2014, Others, 2014)
      The issue of the pricing of bank loans has recently been in focus. There are varying views on whether banks’ margins are high and their development over time. This article seeks to clarify different margin concepts and ...
    • Basel I-gulvet – overgangsregel og sikkerhetsmekanisme i kapitaldekningsregelverket 

      Borchgrevink, Henrik (Aktuell Kommentar;8/2012, Others, 2012)
      Kapitalkravene skal sørge for at banker har en viss mengde kapital til å møte uventede tap. Kravene tar hensyn til hvor risikable bankenes ulike utlån er. Denne risikovektingen innebærer at det kreves mer kapital for mer ...
    • Beregninger av boligbehov i Norge 

      Molden, Birgitte Hovdan (Aktuell Kommentar;6/2011, Others, 2011)
      Denne artikkelen ser nærmere på endringer i boligbehovet og mengden boliger som er tilgjengelig. En tidligere analyse fra 2008 indikerer at boligbyggingen var lavere enn etterspørselsveksten de siste årene frem mot 2007. ...
    • Bolig og gjeld 

      Vatne, Bjørn Helge (Aktuell Kommentar;9/2009, Others, 2009)
      Lån med pant i bolig utgjør mer enn halvparten av bankenes samlede utlån. Det er derfor viktig å forstå risikoforholdene knyttet til boliggjeld i analyser av finansiell stabilitet. To forhold er av særlig interesse; ...
    • Branches of Foreign Banks and Credit Supply 

      Turtveit, Lars-Tore (Economic Commentaries;2/2017, Others, 2017)
      Over time, the government has received substantial revenues in both NOK and foreign currency from the petroleum sector (the government’s net cash flow). At the same time, the government earns considerable foreign currency ...
    • Bruk av referansekurser og påvirkning på valutamarkedet 

      Xu, Hong; Øwre-Johnsen, Marit (Aktuell Kommentar;8/2014, Others, 2014)
      I valutamarkedet gjøres det daglig millioner av handler. Valutakursene endrer seg kontinuerlig gjennom dagen og kan svinge mye i løpet av svært korte tidsrom. I mange sammenhenger er det behov for en daglig referansekurs ...
    • Calculating the Need for Housing in Norway 

      Molden, Birgitte Hovdan (Economic Commentaries;6/2011, Others, 2011)
      This article examines changes in the need for housing and the stock of available dwellings. A previous analysis conducted in 2008 indicates that growth in residential construction was lower than growth in demand in the ...
    • Commercial Real Estate in Norway 

      Hagen, Marius (Economic Commentaries;6/2016, Others, 2016)
      Norwegian banks' corporate loan exposure is highest in the commercial real estate market. Over the past 40 years, lending to the commercial real estate sector has played an important role in causing bank losses. Commercial ...
    • Consequences of an Abrupt Slowdown in China’s Property Market 

      Slettvåg, Bjørnar K. (Economic Commentaries;5/2014, Others, 2014)
      The Chinese property market probably poses one of the greatest downside risks to the global economy in 2014. Construction starts this spring were 20 percent lower than at the same time last year. At the same time, the stock ...