This paper investigates the determinants of Norwegian import prices of manufactures over the period 1970(1) - 1991(4). Multivariate cointegration analysis establishes a long-run relationship between import prices, foreign prices, the exchange rate and domestic unit labour costs. Normalized on...

Contrary to standard agnostic statistical approaches an output gap estimate based on a New Keynesian Small Open Economy model provides the possibility to analyze the driving forces of the variation in GDP caused by nominal rigidities. This paper makes use of this and provides an estimate of a...

During the last decades Norwegian exporters have - despite various forms of exchange rate targeting - faced a rather volatile exchange rate which may have influenced their behaviour. Recently, the shift to inflation targeting and a freely floating exchange rate has brought about an even more...

In this paper, we compare Principal Component Analysis (PCA) and Partial Least Squares (PLS) methods to generate weights for composite indices. In this context we also consider various treatments of non-metric variables when constructing such composite indices. Using simulation studies we find...

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...

Knowledge about rig markets is crucial for understanding the global oil market. In this paper we first develop a simple bargaining model for rig markets. Then we examine empirically the most important drivers for rig rate formation of floaters operating at the Norwegian Continental Shelf in the...

We analyse the behaviour of OPEC as a group for the period 1992 to 2015 by formulating a model that encompasses several of the alternatives discussed in the literature. There is no consensus in the literature on how OPEC behaviour affects crude oil prices. Some studies treat the oil market as a...

The standard static labor supply model ignores that it takes time for individuals to adjust to a taxbenefit reform. A labor supply decision model is developed that allows for lagged responses in terms of state dependence, stemming from preferences, labor market constraints and adjustment costs....

When the budget set is non-convex the application of the Hausman approach to estimate labor supply functions will in general be cumbersome because labor supply no longer depends solely on marginal criteria (first order conditions). In this paper we demonstrate that the conventional continuous...

This paper modifies and extends the aggregate equilibrium models for matching markets developed earlier in the literature. Agents in the matching market search for a match among potential partners, including agreements about a flexible contract, such as hours and wage combinations in the labor...