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Expectations survey for Norges Bank : the survey questions economists, social partners, business leaders and households

Norges Bank - [Oslo] : [Norges Bank] - 2018 Q2-

Persistent link: https://www.econbiz.de/10012121281

A New Monthly Indicator of Global Real Economic Activity

Ravazzolo, Francesco; Vespignani, Joaquin L. - Norges Bank - 2015

a new indicator, named World steel production, and compare it to other existing indicators, precisely the Kilian's index … of global real economic activity and the index of OECD World industrial production. We develop an econometric approach … activity in terms of our econometric properties. Kilian's index of global real economic activity also accurately predicts World …

Persistent link: https://www.econbiz.de/10011277157

Term structure forecasting using macro factors and forecast combination

Pooter, Michiel de; Ravazzolo, Francesco; Dijk, Dick van - Norges Bank - 2010

We examine the importance of incorporating macroeconomic information and, in particular, accounting for model uncertainty when forecasting the term structure of U.S.interest rates. We start off by analyzing and comparing the forecast performance of several individual term structure models. Our...

Persistent link: https://www.econbiz.de/10008464563

Implications of insights from behavioral economics for macroeconomic models

Holden, Steinar - Norges Bank - 2012

The last 20 years, the importance of a number of behavioral features has been widely accepted within economics, and they are now regularly included in standard macro models. Where has this development led us? I argue that the insights from behavioral economics have led to important progress in...

Persistent link: https://www.econbiz.de/10010835424

Have standard VARs remained stable since the crisis?

Aastveit, Knut Are; Carriero, Andrea; Clark, Todd E.; … - Norges Bank - 2014

Small or medium-scale VARs are commonly used in applied macroeconomics for forecasting and evaluating the shock transmission mechanism. This requires the VAR parameters to be stable over the evaluation and forecast sample, or to explicitly consider parameter time variation. The earlier...

Persistent link: https://www.econbiz.de/10010905649

Identification and real-time forecasting of Norwegian business cycles

Aastveit, Knut Are; Jore, Anne Sofie; Ravazzolo, Francesco - Norges Bank - 2015

financial conditions index are timely and accurate in calling the last peak in real time. The models are less accurate and …

Persistent link: https://www.econbiz.de/10011277154

Monetary policy and asset prices: To respond or not?

Akram, Q. Farook; Bårdsen, Gunnar; Eitrheim, Øyvind - Norges Bank - 2005

We investigate whether there is a case for asset prices in interest rates rules within a small econometric model of the Norwegian economy, modeling the interdependence of the real economy, credit and three classes of assets prices: housing prices, equity prices and the nominal exchange rate. We...

Persistent link: https://www.econbiz.de/10005292507

Oil wealth and real exchange rates: The FEER for Norway

Akram, Q. Farooq - Norges Bank - 2004

It is often argued that Norway’s sizeable net foreign assets based on its petroleum wealth imply an appreciation of its real exchange rate to a permanently strong level. We investigate this issue within the framework of the fundamental equilibrium real exchange rate (FEER) approach. It is...

Persistent link: https://www.econbiz.de/10005292510

Flexible inflation targeting and financial stability: Is it enough to stabilise inflation and output?

Akram, Q. Farooq; Eitrheim, Øyvind - Norges Bank - 2006

We investigate empirically whether a central bank can promote financial stability by stabilising inflation and output, and whether additional stabilisation of asset prices and credit growth would enhance financial stability, in particular. We employ an econometric model of the Norwegian economy...

Persistent link: https://www.econbiz.de/10005292512

Pursuing financial stability under an inflation-targeting regime

Akram, Q. Farooq; Bårdsen, Gunnar; Lindquist, Kjersti-Gro - Norges Bank - 2006

We evaluate two main views on pursuing financial stability within a flexible inflation targeting regime. It appears that potential gains from an activist or precautionary approach to promoting financial stability are highly shock dependent. We find support for the conventional view that concern...

Persistent link: https://www.econbiz.de/10005292513