After a forecast failure, a respecification is usually necessary to account for the data ex post, in which case there is a gain in knowledge as a result of the forecast failure. Using Norwegian consumption as an example, we show that the financial deregulation in the mid 1980s led to forecast...

Recent work by Clements and Hendry have shown why forecasting systems that are in terms of differences, dVARs, can be more accurate than economet- ric models that include levels variables, ECMs. For example, dVAR forecasts are insulated from parameter non-constancies in the long run mean of the...

After a forecast failure, a respecification is usually necessary to account for the data ex post, in which case there is a gain in knowledge as a result of the forecast failure. Using Norwegian consumption as an example, we show that the financial deregulation in the mid 1980s led to forecast...

Recent work by Clements and Hendry have shown why forecasting systems that are in terms of differences, dVARs, can be more accurate than econometric models that include levels variables, ECMs. For example, dVAR forecasts are insulated from parameter non-constancies in the long run mean of the...

This paper discusses aspects of a framework for modeling labor supply where the notion of job choice is fundamental. In this framework, workers are assumed to have preferences over latent job opportunities belonging to worker-specific choice sets from which they choose their preferred job. The...

We find that the Norwegian R&D tax credit scheme introduced in 2002 mainly works as intended. The scheme is cost-effective and it is used by a large number of firms. It stimulates these firms to invest more in R&D, and, in particular, the effect is positive for small firms with little R&D...

There is massive cross-sectional evidence that children of more educated parents outperform their schoolmates on tests, grade repetition and in educational attainment. However, evidence for causal interpretation of this association is weak. Within a rich census level data set for Norway, we...

Survival rates are widely used to compare quality of health care. In this paper we introduce post-illness employment as a supplemental indicator of successful treatment of serious diseases. Utilizing rich register based data on cancer patients we document substantial differences across Norwegian...

We measure the effective assistance to 17 Norwegian private industries in 1989 and 1991 caused by government budgetary subsidies, indirect commodity taxes, import protection through nominal tariffs and non-tariff barriers, and electricity market distortions. The assistance effects are measured...