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Rational Expectations in Price Setting. Tests Based on Norwegian Export Prices
Svendsen, Ingvild - Statistisk Sentralbyrå, Government of Norway - 1998
the Norwegian private mainland economy. The long run solution is analysed using a cointegration technique. The dynamics …
Persistent link: https://www.econbiz.de/10004980524
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Classical identification: A viable road for data to inform structural modeling
Hammersland, Roger - Statistisk Sentralbyrå, Government of Norway - 2008
This paper addresses how to enhance the role of data in structural model design by utilizing structural breaks and superfluous information as auxiliary tools of exact identification. To illustrate the procedure and to study the simultaneous interplay between financial variables and the real side...
Persistent link: https://www.econbiz.de/10004980733
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The Financial Accelerator: Evidence using a procedure of Structural Model Design
Hammersland, Roger; Jacobsen, Dag Henning - Statistisk Sentralbyrå, Government of Norway - 2008
We find empirical evidence of a financial accelerator using a data based procedure of Structural Model Design. Credit to firms, asset prices and aggregate economic activity interact over the business cycle in our empirical model of a dynamic economy. Furthermore, the interdependence between...
Persistent link: https://www.econbiz.de/10004980837
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Import Price Formation and Pricing to Market: A Test on Norwegian Data
Naug, Bjørn E.; Nymoen, Ragnar - Statistisk Sentralbyrå, Government of Norway - 1995
(4). Multivariate cointegration analysis establishes a long-run relationship between import prices, foreign prices, the exchange rate …
Persistent link: https://www.econbiz.de/10004980558
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Identifying Structural Breaks in Cointegrated VAR Models
Hungnes, Håvard - Statistisk Sentralbyrå, Government of Norway - 2005
parameters and cointegration mean parameters. These parameters express long-run properties of the model. For example, the growth …
Persistent link: https://www.econbiz.de/10004980955
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Estimating and Restricting Growth Rates and Cointegration Means With Applications to Consumption and Money Demand
Hungnes, Håvard - Statistisk Sentralbyrå, Government of Norway - 2001
The parameters in the cointegration vector and the loading parameters are not the only interesting parameters in a … vector cointegration model. With a reformulation of the model the intercept parameters can be decomposed into growth … parameters and cointegration mean parameters. These parameters have economic interpretations and are therefore also important. We …
Persistent link: https://www.econbiz.de/10004980956
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Trade liberalisation and import price behaviour: the case of textiles and wearing apparels
Benedictow, Andreas; Boug, Pål - Statistisk Sentralbyrå, Government of Norway - 2010
Previous studies on the relationship between exchange rates and traded goods prices typically find evidence of incomplete pass-through, usually explained by pricing-to-market behaviour. Although economic theory predicts that incomplete pass-through may also be linked to presence of non-tariff...
Persistent link: https://www.econbiz.de/10008513052
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The importance of the distribution sector for exchange rate pass-through in a small open economy. A large scale macroeconometric modelling approach
Boug, Pål; Cappelen, Ådne; Eika, Torbjørn - Statistisk Sentralbyrå, Government of Norway - 2013
The degree of exchange rate pass-through to domestic goods prices has important implications for monetary policy in small open economies with floating exchange rates. Evidence indicates that pass-through is faster to import prices than to consumer prices. Price setting behaviour in the...
Persistent link: https://www.econbiz.de/10010678288
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The new Keynesian Phillips curve: Does it fit Norwegian data?
Boug, Pål; Cappelen, Ådne; Swensen, Anders R. - Statistisk Sentralbyrå, Government of Norway - 2011
We evaluate the empirical performance of the new Keynesian Phillips curve (NKPC) for a small open economy using cointegrated vector autoregressive models, likelihood based methods and general method of moments. Our results indicate that both baseline and hybrid versions of the NKPC as well as...
Persistent link: https://www.econbiz.de/10009018413
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Wealth effects on consumption in financial crises: the case of Norway
Jansen, Eilev S. - Statistisk Sentralbyrå, Government of Norway - 2010
A dynamic consumption function, where consumption in the long run is determined by households’ disposable income and wealth, has been superior to the Euler equation in explaining the development of Norwegian aggregate consumption over several decades. This period covers the years of financial...
Persistent link: https://www.econbiz.de/10008509743